Aditya had just accessed his free credit report from CIBIL’s website and he was quite upset with the fact that his credit score was quite low at just 450. Even while he had no immediate need for any loans, he was still concerned over improving his Cibil score. No wonder, he was at Kuber’s house in another 30 minutes.

“My score is 450 and that is quite low according to me. How to improve CIBIL score?” Aditya was indeed concerned.

Kuber was once again to his rescue.

“Credit score is nothing but a reflection of your credit habits through your loan transactions and repayments. The most important factor is the repayment history which carries the highest weight in the score. I noticed that you have made minor defaults in payment of your credit card bills. Make sure, you have been paying your credit card and loan dues well in time to improve your CIBIL score.”

Kuber continued, “Every time an individual’s credit score is checked by a bank/ financial institution, it gets recorded in CIBIL’s database and also reflected in acredit report. Since repeated inquiriesof seeking credit indicate an individual’s excessive reliance on credit, it adversely affects CIBIL score.One must take enough precautions not to be tagged as a credit-hungry individual to improve his/ her CIBIL score.”

“But Kuber, I also noticed, there was a defaulting loan account, which otherwise is not mine. Is there any way to get it corrected?” Aditya fired another question.

“Aditya, you are a good student. As I explained earlier, defaults in repayment of loans indeed lower your score. We need to get the details in CIBIL corrected by contacting the concerned bank/ CIBIL and going by my experience, it takes a little time to get the same rectified and see your improved CIBIL score. But anyways, now you know, why it is important to regularly monitor your CIBIL Score.” Kuberwas quick to resolve Aditya’s query.

“All I can say now is that when Kuber is here, there is no need for Aditya to fear.” Aditya was in the jovial mood now and his words said it all.

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