Boost Your Credit Score: Unlock Quicker Loans and Lower Interest Rates
Business
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Moneycontrol•24-01-2026, 16:01
Boost Your Credit Score: Unlock Quicker Loans and Lower Interest Rates
- •A strong credit score is crucial for quick loan approvals and favorable interest rates, often checked before income or job details by lenders.
- •Timely repayment is paramount; even a single missed payment can significantly damage your score. Utilize auto-debit and reminders.
- •Use credit cards wisely: keep utilization low (below 30%) to signal financial health. Consider requesting a higher limit if spending is stable.
- •Limit new credit applications; too many inquiries in a short period can negatively impact your score. Apply selectively and space out requests.
- •Regularly review your credit report for errors. Incorrect information can hurt your score, and correcting it can lead to quick improvements.
Why It Matters: Consistent financial discipline, timely payments, and responsible credit use are key to a healthy credit score.
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