When You Need A Car With A Low CIBIL
We recently got an email from reader Zahid who is interested in a car loan, but ran into some issues.
From: Zahid ********* <**********@gmail.com>
Subject: CIBIL SCORE
I owe a credit card from 05/05/2017 with limit Rs 29000. I paid only the minimum dues per month. Recently I applied for car loan but they rejected it saying that I have a low CIBIL SCORE (665).
Later I searched the internet and found that paying only minimum due is a dangerous step as it lowers the CIBIL SCORE.
I now cleared all the dues.
Please let me know how long it will take to improve my score. Also please guide me how to improve it.
Thanks and Regards
What To Do
- SBI Does Not Ban Cryptocurrency Purchases – But Offers Warning - 22/04/2018
- Closing Liabilities and Raising Your CIBIL Score - 15/04/2018
- Understanding Credit Limits: Is My Credit Limit For A Month or Year? - 02/04/2018
- I Have an 818 CIBIL Score, Why Was I Rejected For A Loan? - 18/03/2018
- Looking For A New Credit Card To Compliment the HDFC Regalia - 26/02/2018