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5 Things People With An 800 CIBIL Score Do

5 Things People With An 800 CIBIL Score Do

An 800 CIBIL Score Requires Good Habits

5 Things People With An 800 CIBIL Score DoDo you know that more than 79% of loans that are approved are of individuals who have a CIBIL score of 750 or more? Yes, it is very much true! People who have a CIBIL score of 750 or above are more likely to get their loan applications approved, along with many other benefits.

For instance, if you have a CIBIL score of 750 or more, then not only your loans will get approved, but they will be approved much faster and very easily. And, if this is not enough for you, then check out some of the other benefits of a high CIBIL score, such as you will be able to get better credit card offers, you can qualify for a 0% interest rate, you can get the best insurance premiums, etc.

After reading about all these benefits, who would not want to get a credit score of 750 or above? Obviously, everyone would! Moreover, it is not as difficult as you think it to be. You just have to take some cues from individuals who have a CIBIL score of 800. Learn about what these people do and implement the same guidelines in your credit behavior.

Now, you would be wondering what people with a CIBIL score of 800 do. Do not fret, as we have made this easy for you by listing the top 5 things that people with an 800 CIBIL score do. Just follow these 5 important things and see how your CIBIL score touches or even crosses the 800 mark in your credit report card.

1. Pay on time every time

Not only you must pay your card balances on time, but you should pay them on time every time. In other words, people who have a credit score of 800 or above pay their card balances on time every month. They do not miss a single payment, as this can have a significant effect on their CIBIL scores, which they do not want to make.

In fact, this is the foremost thing that individuals with 800 CIBIL score pay attention to.  And, this is not only about credit cards, but also your loans. The EMIs that you pay on your loans must be paid on time every month, no matter if it’s a car loan, personal loan or home loan. If you have a good car payment or loan repayment history, then it would reflect favorably on your CIBIL score.

2. Don’t revolve the credit card payments

You should pay the entire balance on your credit bill and must not revolve your card payments. This is because, when you just pay off the minimum balances on your card and allow the remaining overdue balance to go to the next month’s bill, it will indicate that you do not have much money to pay off your card balances.

Plus, you have to pay off high interest rates at times, up till 42% annually on credit cards, which in turn increases your loan burden. Therefore, it is advised to pay off 100% of your card balance.


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3. Work on credit utilization

Credit utilization means you must pay off your entire balance every month as well as you must use only up till 10% of your total credit line in your billing cycle. For instance, if the total credit limit of your card is Rs. 1,00,000, then do not use more than 10,000 per month.

4. Don’t close the oldest account

Most of the people tend to close the card account that they are not using for a long time. But, this is where they go wrong. Don’t believe me? Ask the people with an 800 or above CIBIL score. They will tell you that keeping your oldest account is a good thing, as it will determine your credit history, which in turn has a good impact on your CIBIL score.

5. Get different types of credit

Do not just use credit cards to build your credit score, but other types of credit too, such as secured loans, unsecured loans, mortgages, revolving accounts, etc. This will add diversity to your credit score. People who have a credit score of 800 or above generally use other types of credit, besides credit cards. Even if you have only credit cards, you should get an installment loan to improve your CIBIL score.

These are the 5 top most things that individuals with an 800 or above CIBIL score do. To enter this exclusive club of people with excellent credit, make it a point to follow all these tips and stay close to CreditSmart!

Viveka Rao

About Viveka Rao

Viveka Rao is post grad in finance and a freelance writer here at CreditSmart. A love for shopping and travel rewards has fueled her interest in personal credit, and making the most of rewards programs. She writes to educate other consumers in making great financial choices.

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