How to Increase CIBIL to 800+

[Parveshgarg]

Hey currently my CIBIL is 789 with one secure and one unsecure credit card.
I have 100% on time payment record and credit history of 4 year+ and I always keep my utilization below 30%

So how can I increase my CIBIL to 800+, please suggest your Ideas.

 

[shubhamaggarwal]

Hey currently my CIBIL is 789 with one secure and one unsecure credit card.
I have 100% on time payment record and credit history of 4 year+ and I always keep my utilization below 30%

So how can I increase my CIBIL to 800+, please suggest your Ideas.

That's great to know that you always make payment in full. There are many factors included in getting your score 800+ but you need to do the same process for sometime as you don't have any secured loan like house loan which also increases your score.

 

[Parveshgarg]

@TechnoFino @anirbanm is secured personal loan against FD create +ve affect on CIBIL score or -ve?
Does it count as secured loan?

 

[TechnoFino]

@TechnoFino @anirbanm is secured personal loan against FD create +ve affect on CIBIL score or -ve?
Does it count as secured loan?

If it's secured, then it's a good loan... it will have long term positive impact.

 

[Extrovert🌃]

is there any point in taking a secure loan just to improve CS?

if yes then any easy and unbelievably inexpensive way to take a secure loan?

 

[TechnoFino]

is there any point in taking a secure loan just to improve CS?

if yes then any easy and unbelievably inexpensive way to take a secure loan?

No... don't force yourself for a loan in any condition

 

[Extrovert🌃]

No... don't force yourself for a loan in any condition

will taking a Secured CC will be displayed as Secure Loan in CS?

 

[TechnoFino]

will taking a Secured CC will be displayed as Secure Loan in CS?

Yes... but not all banks report secure card as secured credit card ac to cibil.

 

[Akashgod]

Sbm one card also shows as unsecured in cibil, but axis, hdfc,kotak,icici show it as secured. Rest no idea

 

[Akashgod]

If shown secured, then it is FD against only.
Also depends on where u check cibil, I have an axis secured card, in some apps it's treated like loan and in icici cibil report, they consider it as unsecured product.

 

[Akashgod]

No, you are checking in one score.. that app never shows secured card as secured. Check in official cibil page report. U will get a clear picture

 

[sameerdes]

Hey currently my CIBIL is 789 with one secure and one unsecure credit card.
I have 100% on time payment record and credit history of 4 year+ and I always keep my utilization below 30%

So how can I increase my CIBIL to 800+, please suggest your Ideas.

Even I'm at 792 CIBIL.. Utilization as per OneScore/Cibil is usually 25-30%, credit history 6-7 yrs & all on time payments etc. Ran their simulators & it shows increase to 800+ only in case of availing home loan/vehicle loan etc Besides that don't know if other tips/tricks are sure shots to work

 

[TechnoFino]

That's true that only using CCs will not boost Cibi to 800+

But 750-800 Cibil is good 😅

Golden rule- don't push yourself for a secured loan just because of boosting cibil score

 

[sameerdes]

That's true that only using CCs will not boost Cibi to 800+

But 750-800 Cibil is good 😅

Golden rule- don't push yourself for a secured loan just because of boosting cibil score

Yes. Luckily have been loan free in my life so far.. so am happy about it & want to keep it so. Will let the CIBIL score take its own journey basis disciplined repayment, credit behaviour etc.. Rest I think 750/770+ is a good enough score & beyond that one shouldn't take CIBIL score too seriously or be too obsessed with it.

 

[TechnoFino]

Yes. Luckily have been loan free in my life so far.. so am happy about it & want to keep it so. Will let the CIBIL score take its own journey basis disciplined repayment, credit behaviour etc.. Rest I think 750/770+ is a good enough score & beyond that one shouldn't take CIBIL score too seriously or be too obsessed with it.

Absolutely... 770+ score is more than enough.
Just pay bill on time & relax

 

[Parveshgarg]

I am thinking about taking a overdraft facility against FD which can be availed in 5 minutes from net-banking which has only 1% interest rate only if we withdraw from OD.
Is it good method to get a secured loan and will it create +ve impact on my CIBIL?????

 

[TechnoFino]

I am thinking about taking a overdraft facility against FD which can be availed in 5 minutes from net-banking which has only 1% interest rate only if we withdraw from OD.
Is it good method to get a secured loan and will it create +ve impact on my CIBIL?????

Never push yourself for a loan... get a secured credit card instead

 

[Akashgod]

I am thinking about taking a overdraft facility against FD which can be availed in 5 minutes from net-banking which has only 1% interest rate only if we withdraw from OD.
Is it good method to get a secured loan and will it create +ve impact on my CIBIL?????

Overdraft on FD is not considered secured in cibil or any bureau. It is treated as current account itself which is unsecured. Also if u take hdfc fd od they show ur account balance in it as negative, which means if u have higher balance than Overdraft in ur saving account then in cibil current balance becomes negative equivalent to ur account balance. Consider icici od or any other . But anyway there is no secured OD in cibil.

 

[Parveshgarg]

Overdraft on FD is not considered secured in cibil or any bureau. It is treated as current account itself which is unsecured. Also if u take hdfc fd od they show ur account balance in it as negative, which means if u have higher balance than Overdraft in ur saving account then in cibil current balance becomes negative equivalent to ur account balance. Consider icici od or any other . But anyway there is no secured OD in cibil.

This is reporting of my previous OD against FD in my CIBIL report. how to check weather its secured or not? In type of collateral its showing FD.

 

[Akashgod]

This is reporting of my previous OD against FD in my CIBIL report. how to check weather its secured or not? In type of collateral its showing FD.

Can't comment on closed accounts as many of the details will be nullified. As far as I know, type of collateral is not usually seen, only Type: overdraft is considered which means its unsecured.