How to Improve CIBIL Score Without Credit Card?

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1

Hi experts, I want to build cibil score without credit card. Can you suggest how to go about it?

2

Improving your CIBIL score without a credit card is not as hard as you think. I started my journey with an education loan and when I first checked my score, it was 639. Now my credit score is 764, and I am sharing some valuable tips for you.

To increase your CIBIL score without a credit card, I followed these simple hacks:

  1. First, I took a small personal loan from my bank of just ₹25,000. I always paid my EMIs on time, without delay. Timely payments are one of the biggest factors in building a solid credit score.
  2. In your case, if you want to avoid high-interest personal loans, you may take out secured loans. For example, gold loans or loans against fixed deposits are much easier to repay and helpful for your credit score.
  3. You may also use Buy Now Pay Later platforms, where you can shop in EMIs. With timely payments, this can also be helpful to increase your CIBIL score.

However, one thing I have also been doing since 2022 is checking my credit score once every 2-3 months to ensure that there are no mistakes on my end to improve it.

In short, it is possible to build and improve your credit score even without a credit card. You just need to be responsible while repaying the amount.
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