When you need to apply for a credit card, car loan, mortgage, or any other financial institution that uses the CIBIL scoring system, it can be helpful to increase your score. But increasing your score is a difficult process and definitely not all within just this single article.
To increase your CIBIL score opting for a tiered credit profile is one of the best ways to raise you score. Tiered profiles basically mean that you want payment separation on your credit card. For example, having one card with a $500 limit, and another with a $1000 limit is better than having two cards with a $2000 limit. The reason for this is that if you have too large of an open credit limit, it gives the impression that you are unable to manage your finances. If you get into trouble and start missing payments, being able to separate your accounts into different tiers will help the credit reporting agencies understand what happened.
