How to get a good credit rating

How to get a good credit rating?

It is a worst feeling when you apply for a loan and get rejected. When you don’t have answer, why this has happened to?

Well some of the websites such as have answer to your problems. They exactly know what you what and how it can be achieved. One of the reasons behind rejection is credit rating. So how can we get a good credit rating?

Good credit rating can be getting in following ways:

Credit rating is depending upon what you show in your application and what is your credit history along with your credit score. All these information you can get from websites such as, if you have enrolled in them. This information is kept with credit reference agency also.

Every moneylender has sets its own rating. If your rating is lower than this, you will either be charged at higher interest rate or you application will be rejected.

It is necessary to have very high ratings so that you can meet the criteria of all the moneylenders. Sometimes different moneylenders use different model to calculate a credit scores. There are various models to calculate credit score such as vantage model, FICO model and non-FICO model. Out of all these FICO model is accepted worldwide and it is most commonly used model.

Sometimes moneylender ready to take risk on you and accept you application but charges put by them are way higher than your expectations.

Following are the ways to get a good credit rating:

  • Before applying for loan, check your credit report. You can check it on websites such as

  • If you are having any joint financial account with someone just end that partnership. This is because if that person has bad credit then your credit score will also go down.

  • Get enrolled which means if you enrolled yourself, then you develop a trust in lenders. This happens because you enrolled your original address so chances of fraud would be less.

  • Close all your unused accounts and credit cards. Because unnecessary debts are not good for rating.

  • Late payments and missed payments stay in account for very long time. They also ruin your good credit history (which you can see on websites such as

  • Pay all your debts in time. Don’t miss to clear your loan EMI and credit card bills on timely basis. One mistake can cost you long term.

  • You can build your good credit history using safe credit cards

Moreover you need to manage your credit score. And you have to be in range of good credit score which is 700 and above.

No question is how to get good credit score. You can get good credit score by doing the following:

  • Use the safe credit card

  • Close the card and account which is not in use

  • Pay the EMIs on time

  • Pay the credit card bills on time

  • Do not delay in any of your payments