Your credit score is the foundation of your financial health. A reflection of how responsibly you manage money. Whether you’re applying for a credit card, personal loan, or unsecured loan, a score of 750 or above is the golden number that lenders look for.
A higher score means better loan approvals, lower interest rates, and improved access to financial products. But how do you get there? Let’s break it down into 6 simple, actionable steps to help you reach that coveted 750+ mark.
Step 1: Check Your Current Credit Score
Before improving your credit score, you need to know where you stand. Check your score regularly through trusted sources or directly within the FatakPay app for a quick, accurate report.
Your credit report will show:
- Current score and score range
- Active and closed loans or credit cards
- Repayment history
- Pending dues or missed EMIs
Understanding this data helps you spot improvement areas and take corrective steps early.
Step 2: Pay Your Bills on Time
This is the most important factor in maintaining a good credit score. Your loan EMIs and credit card payments make up nearly 35% of your total score.
Even a single missed payment can negatively impact your credit report. Set reminders or enable auto-debits (via eNACH) to ensure timely payments.
A consistent record of punctual payments builds trust with lenders and steadily improves your score.
Pro tip: Always pay at least the minimum due amount before the due date on credit cards to avoid penalties and negative marks.
Step 3: Keep Your Credit Utilisation Low
Your credit utilisation ratio, the percentage of credit you use against your total limit, should ideally stay below 30%.
For instance, if your credit card limit is ₹1,00,000, try to keep monthly spending under ₹30,000. High utilisation signals over-dependence on credit and can lower your score.
If you frequently reach your limit, request a limit increase or use multiple cards responsibly to spread usage evenly.
Step 4: Diversify Your Credit Portfolio
Lenders prefer borrowers who can handle different types of credit responsibly, this includes a mix of secured loans (like home or car loans) and unsecured loans (like personal loans or credit cards).
Diversifying your portfolio shows financial maturity and stability. For new borrowers, small credit-building tools like FatakUdaan can help you start smart by taking a small digital loan to establish repayment history.
A healthy mix of credit types contributes to roughly 10% of your score calculation.
Step 5: Limit New Credit Inquiries
Every time you apply for a loan or credit card, lenders perform a hard inquiry, which temporarily lowers your score.
Avoid making multiple applications within a short time. Instead, use pre-approved offers or instant loan options from trusted digital platforms like FatakPay, especially if you’re seeking an instant loan for a low CIBIL score.
The key is quality over quantity, apply only when you really need credit.
Step 6: Monitor Your Credit Regularly
Checking your credit score and report periodically is not just about staying informed, it’s about staying in control.
Regular monitoring helps you:
- Detect errors or fraudulent entries early.
- Track improvement progress.
- Understand how changes (like a new loan or EMI) affect your score.
With apps like FatakPay, you can check your credit score, track your credit journey, and even explore personalized loan offers tailored to your financial profile.
FAQs
1. What is a good credit score for a personal loan?
A score of 750+ is considered excellent for personal loan eligibility. However, you can still qualify for instant personal loan for low CIBIL score through digital lenders like FatakPay.
2. How fast can I improve my score?
Improvement depends on repayment consistency and credit usage, but visible changes can appear in 3–6 months.
3. Will closing old loans improve my score?
Not necessarily; older, successfully closed accounts show positive credit history. Keep them on record.
4. Can I get a loan if I’m new to credit?
Yes, small-ticket unsecured loans or credit-building products like FatakUdaan help you start your credit journey responsibly.
Build Your Credit Smartly with FatakPay
Reaching a 750+ credit score isn’t about perfection, it’s about persistence.
By managing EMIs, controlling credit use, and borrowing smartly, you can unlock better financial opportunities.
Begin your journey today with FatakPay, your partner in responsible credit growth.
Download the FatakPay App to check your credit score, apply for instant loans, and track your credit progress in real time.
