How can I improve my CIBIL score before applying for a home loan?
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I’m planning to apply for a home loan in a few years, but my CIBIL score is quite low right now. Should I focus on clearing those small overdue loans and credit card bills first to get them off my back, or would it be better to start fresh with disciplined payments and a secured card to build my score up?
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First things first, if you have any overdue loans or credit card bills, make sure to pay them off. Late payments can seriously interfere with your CIBIL score. Once you're all caught up, just try to pay your bills on time from then on. Getting a secured credit card can also be a good way to help rebuild your credit history.
Try to keep your spending in check and avoid applying for too many loans at the same time. If you stay on top of this, you’ll definitely see your score go up before you apply for that home loan.