Sometimes we only bother about our credit score when we face a loan rejection. However, to ensure that your loan is approved you need to be confident of your credit score. If your credit score is high then any bank would lend you the loan without much hue and cry- on the other hand if your credit score is low no lender would offer you the loan you require. Now there would be a number of reasons as to why your credit score would have gone low – which may include lack of capability to repayment owing to less income, lack of reliability owing to any default in making payments, pending credit card bills etc. However, did you know that low scores can be improved? Yes low scores can be improved by means of debt management agencies. These debt management agencies are specialized in offering right financial advice to individuals having bad credit history and help them in improving their credit history and therefore their credit score. However, you can begin with very simple and proven ways that would enhance your credit score:

1. Watch over your Credit Card Bills – Pay Bills but do not close your Credit Card:

If you have a credit card pay your bills and break the debt cycle. Make sure that you do not close you credit card. Just maintain it well. Closing credit card can lay a negative impact on your credit score.

2. Opt for a loan re-finance:

Compare your loan and see the rate of interest at which the loan was granted to you. If your loan was granted a higher rate of interest then all you need to do is to immediately take a loan balance transfer to other bank offering loan at lower rate of interest. This will reduce your financial burden by lowering your EMI and also the overall cost of the loan you have borrowed.

3. Pay your EMIs in time:

You should ensure that you pay your EMIs in time. Paying your EMIs in time will portray that you are serious about making re-payments and won’t default in future which can prove as a positive act that would lead to enhancement of your credit score.

4. Clear your long pending debt:

If you have any long pending debt you need to immediately get away with it – Loan refinance can be one thing that can serve beneficial when it comes to clearing your long pending debt.

5. Correct your Credit History through a Debt Management Agency such as Credit Clear:

You can improve your credit score by simply login into Letzbank website and clicking on Improve your Credit Score under Services tab. The services tab is located at the top of the website. Simply enter your name, email address and mobile number and hit submit. Make sure that you check the box regarding the terms and conditions. A representative from Credit Clear department will be in touch with you to help you with the best financial solution as per your needs. They will analyse, improve and restore your credit score.

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