{"id":26137,"date":"2023-08-29T03:19:13","date_gmt":"2023-08-29T03:19:13","guid":{"rendered":"https:\/\/tata-blog.osian.dev\/blog\/?p=26137"},"modified":"2024-12-19T15:53:01","modified_gmt":"2024-12-19T10:23:01","slug":"improve-your-credit-score-with-small-personal-loan","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/personal-use-loan\/improve-your-credit-score-with-small-personal-loan\/","title":{"rendered":"Improve your Credit Score with Small Personal Loan"},"content":{"rendered":"\n

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If you have ever applied for a loan, you know the importance of having a good credit score. Along with reflecting your creditworthiness, this three-digit number influences your loan approval and the interest rates you are charged. Naturally, you want to maintain a high score (750 points or above). However, this is an uphill task, especially when you have a high credit utilisation or you are at the start of your financial journey.<\/p>\n\n\n\n

However, believe it or not, one of the most fool-proof ways of raising your credit score is by securing short-term credit like a small personal loan. Curious how? Let\u2019s find out.<\/p>\n\n\n\n

Pay off your debts<\/strong><\/h2>\n\n\n\n

If you didn\u2019t know already, taking several loans in a short span can hurt your credit score<\/a>. What\u2019s more, it also makes it hard to keep track of your debts. In such a case, resorting to personal finance to pay off your dues through debt consolidation is a wise choice. Not only do you clear your unpaid debts without dipping into your savings, but you also get to restart debt repayments at a manageable personal loan interest rate.<\/a><\/p>\n\n\n\n

Additional read: <\/strong>Tips to Improve Personal Loan Credit Score<\/a><\/p>\n\n\n\n

Timely debt repayments<\/strong><\/h2>\n\n\n\n

Running short on funds to make loan repayments? Don\u2019t wait for a missed payment to leave a mark on your credit report and lower your credit score. Apply for a debt consolidation loan with a trusted lender to help you out.<\/p>\n\n\n\n

Doing this puts an end to a spotty repayment history and it also helps you build a history of timely debt repayments from scratch. The best part? You even get to select an EMI plan that works with your budget before getting a loan. This means you can repay your debts on your own terms. Need help choosing a suitable EMI plan? Use a personal loan EMI calculator<\/a> online.<\/p>\n\n\n\n

Reduce your credit utilisation<\/strong><\/h2>\n\n\n\n

Having multiple lines of credit that are close to the spending limit is a sure-fire way to reduce your credit score. Why? Because it shoots up the Credit Utilisation Ratio (CUR), thereby lowering your credit score. So, bring your credit spending under control by transferring the balance to a personal loan<\/a>. This reduces the CUR from individual credit lines and raises your credit score.<\/p>\n\n\n\n

Increase credit mix<\/strong><\/h2>\n\n\n\n

Your credit mix plays a crucial role in determining your credit score. So, if various credit cards are your only credit lines at the moment, diversify your credit mix a little with small loans. Adding these loans to your credit mix reflects that you have the experience of handling various types of credit, thereby increasing your creditworthiness and your credit score.<\/p>\n\n\n\n

Additional read<\/strong>: How Opting for a Personal Loan Can Boost Your Credit Score in the Future<\/a><\/p>\n\n\n\n

Final word<\/strong><\/h3>\n\n\n\n

Getting a small instant loan to increase your credit score might seem counterintuitive at first, but it works effectively to raise your credit score. So, apply for small loans online with a trusted financier like Tata Capital.<\/p>\n\n\n\n

Along with affordable loan rates and repayment tenures, we also offer quick disbursals and unmatched after-sales service. Connect today!<\/p>\n\n\n\n

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Apply Now<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n
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If you have ever applied for a loan, you know the importance of having a good credit score. <\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":26138,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-26137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-use-loan"],"yoast_head":"\nImprove your Credit Score with Small Personal Loan - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"If you're having a hard time qualifying for loans due to poor or no credit history then check out these tips to Improve your Credit Score with Small Personal Loan.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Improve your Credit Score with Small Personal Loan - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"If you're having a hard time qualifying for loans due to poor or no credit history then check out these tips to Improve your Credit Score with Small Personal Loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/improve-your-credit-score-with-small-personal-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-29T03:19:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-19T10:23:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2022\/03\/7-credit-score-with-small-personal-loan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/improve-your-credit-score-with-small-personal-loan\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/improve-your-credit-score-with-small-personal-loan\/\",\"name\":\"Improve your Credit Score with Small Personal Loan - 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