It is good that you know that you have a poor credit score. It is only after knowing and acknowledging a problem that you can work towards rectifying it! So many people are ignorant about credit scores and how it affects their life with respect to finance. But by knowing that you have a poor credit score, you can work towards improving your credit score.

Here are few fundamental ways that will go a long way in improving your credit score:

Repay all your debts You may have defaulted on a payment or may just be delaying it for months, but it is imperative that you repay all your debts before applying for a loan.

Repay on time Time is of the essence when it comes to repaying loans. Ensure you repay all your credit payments in time to maintain a good repayment history. For this, use reminders, mails, etc on your phone, laptops so you never miss a Due Date

Borrow only as much as you can repay People tend to get trigger happy when they start earning and get credit cards. They take on way more credit than they can repay and this results in defaulting.

Don’t ignore your default payments In line with the point above, once borrowers default they start ignoring the mails/calls from the banks thinking that the problem will vanish. However, this couldn’t be farther from the truth. One can still deal with a payment or a default before it snowballs (with accumulated interest) into a figure that’s beyond your reach.