{"id":5151,"date":"2020-03-30T20:47:13","date_gmt":"2020-03-30T15:17:13","guid":{"rendered":"http:\/\/blog.ruloans.com\/?p=5151"},"modified":"2020-03-30T20:47:13","modified_gmt":"2020-03-30T15:17:13","slug":"important-things-to-avoid-for-a-better-credit-score","status":"publish","type":"post","link":"https:\/\/www.ruloans.com\/blog\/important-things-to-avoid-for-a-better-credit-score\/","title":{"rendered":"Important Things to Avoid For a Better Credit Score"},"content":{"rendered":"\n<p>It\u2019s 2020 and apart from Coronavirus,\nthe only important thing that people focus on is maintaining their credit\nscore. Why so? It\u2019s simple! A salaried person with a good credit history is a\nreliable person as per the Bank\/NBFC. These Banks\/NBFCs will offer an instant\npersonal loan at the best interest rates and deals possible.&nbsp;<\/p>\n\n\n\n<p>But what if my credit score is not good?<\/p>\n\n\n\n<p>Then we must break the bad news to you!\nWithout a good credit history, getting the best personal loan interest rates is\nalmost impossible. Banks will consider you as a credit hungry customer and\nmight either;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Give you the personal loan at higher interest rates OR<\/li><li>Reject your loan application (This will further affect your credit history)<\/li><\/ul>\n\n\n\n<p>How do Banks know if I am a reliable\ncustomer?<\/p>\n\n\n\n<p>Banks run a personal loan eligibility\ncheck to understand your income &amp; credit history. If you fulfill the\nminimum requirement, then you surely can get your loan application approved.<\/p>\n\n\n\n<p>What are the important things I can\navoid for a better credit score?<\/p>\n\n\n\n<p>We have listed 4 important points that\nyou must directly avoid if you need a better credit score.<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Do not Default. Ever!<\/strong>&nbsp;\u2013\nThe thumb rule for any person will be that they must always pay their bills on\ntime. Do not default on your credit card payments or EMI payments on personal\nloan. Any one default can bring down your credit score. Avoid the practice of\n\u201cMinimum amount due\u201d as the Bank understands that you cannot pay your bills\nfully.<\/li><\/ol>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Avoid High Credit\nUtilization on your cards<\/strong>&nbsp;\u2013 Every credit\ncard has a limit. Try to ensure that you don\u2019t max out your limit. If possible\nmanage a healthy credit utilization ratio. This ratio must hover less than\n35-40% of your credit limit. It shows the Bank that you only need little credit\nand your income is sufficient to fulfill your needs.&nbsp;<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Avoid becoming a Loan\nGuarantor\/Co-Applicant<\/strong>&nbsp;\u2013 There are\nmultiple advantages of becoming a loan guarantor\/ co-applicant for personal\nloans. But remember that if the other applicant doesn\u2019t repay the loan EMI or\ncannot repay it at all, then you will also have to bear the brunt of it. It\nwill directly affect your credit score.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Do not cancel older\ncards<\/strong>&nbsp;\u2013 Be careful when it comes to your\nold credit cards. If you cancel them, it will only affect your credit history.\nYes, when you close a card, all your credit history related to that card also\ngets wiped out. This will have a direct impact on your credit history.<\/li><\/ul>\n\n\n\n<p>Hence you must be very careful when it\ncomes to improving your credit score. Be a reliable person and always pay your\nbills on time. If you are looking to find the best deal on personal loans,\nvisit Ruloans.com!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s 2020 and apart from Coronavirus, the only important thing  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