Answer to Question #317401 in Marketing for Maham

Question

One of your clients wants to apply for a Home Loan in the next 12 to 18 months. Few

months back the client had lost his job during the COVID-19 pandemic and delayed his

credit card payments. The client is worried that this may impact his credit score

maintained by Credit Bureaus. Suggest a roadmap to your client to improve his credit

score.

Answer 1

Take a look at your credit reports.

Get a Glimpse of Your Bill Payments

Aim for a credit utilization rate of 30% or less.

Limits the number of new credit requests you make—and the number of hard inquiries you receive.

Make the Most of a Limited Credit History.

Maintain open old accounts and deal with delinquencies.

Consolidate your debts if possible.