It’s a common misconception among consumers that someone with a low CIBIL Score may not get any access to credit or loans, let alone a chance to rebuild their score. And that seems to be reason enough to never let your score drop.
However, the truth is a low credit score can be caused by a number of unavoidable circumstances too — you may have hit a rough patch and couldn’t make timely payments, you allowed yourself to get carried away with your brand-new credit card, or you simply forgot to keep your account funded and missed the due date. While your credit profile may be affected by these factors, your credit score is beyond this. Your CIBIL Score is a reflection of past credit behavior and payments; it’s a history of your credit, and the good news is that history can be created all the time.
So even if you have hit rock-bottom, there are ways to rebuild your credit history and CIBIL Score, starting today.
Remember, a high CIBIL Score will help you get access to loans and credit whenever you need it the most. All you need is time and conscientious efforts to set this right. Start rebuilding your score today and work towards your financial goals and dreams.
Disclaimer: The information posted on this blog (Information) is prepared by TransUnion CIBIL Limited (TU CIBIL). This Information is for generic informational purposes only and is meant for consumer education and awareness about credit scores, credit history and credit reporting. The Information posted on the blog does not constitute credit advice and the user will need to consider the same and take independent informed decisions . No part of this Information may be quoted out of context, distorted ,distributed, published and/ or reproduced in any form and manner whatsoever. Consumers are advised that the Credit Information Reports (CIRs) prepared by TU CIBIL are based on collation of information, substantially, provided by credit institutions who are members with TU CIBIL. TU CIBIL is not responsible and /or liable for errors and/or omissions caused by inaccurate or inadequate information submitted to it by credit institutions. TU CIBIL does not guarantee the adequacy or completeness of the Information and/or its suitability for any specific purpose nor is TU CIBIL responsible for any access or reliance on the Information. TU CIBIL expressly disclaims all such liability. Further, this Information is based on the data available with TU CIBIL at the time of publication and therefore may not be up-to-date.