Raising Your CIBIL After An NOC
The emails keep coming in to us with credit questions, here’s a recent one from a reader with a low CIBIL after a paid loan:
Hello Sir/Madam,my name is Prasanna..my mom once took a credit card from ICICI bank and the payment was overdue so the bank has put my in defaulters list and the cibil score got decreased cause of the issue we are not able to get any loan from any bank so now we paid the over due amount and closed the account in ICICI Bank and got a NOC from the bank for the settlement of Amount and now I want the cibil score to be increased as soon as possible!!. So what would be the process to solve the issue!!
What You Should Plan On Doing
Thanks for emailing us at CreditSmart! I’m sorry to hear about your past situation with ICICI and your resulting CIBIL score drop. All is not lost, but your CIBIL score can only be rebuild over time – it is not an instant process. The general easy tip that always works to increase your score is USE your credit cards frequently for small purchases, then pay in full each month. After many months of positive repayment history, CIBIL sees you have a positive trending pattern of reliable payments – and your score will increase steadily. I suggest you start by reading our large amount of articles directly on this topic of improving CIBIL score. You are sure to pick up some tips on how to improve your CIBIL score.
Additionally, if there is an error on your CIBIL report, meaning false information, that may be bringing your score down, you can work with CIBIL to remove the error by filing a Dispute Resolution here: https://www.cibil.com/dispute-resolution
Best of Luck,
CreditSmart Staff CreditSmart
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