How Can I Increase My CIBIL Score From 750 to 800?

A CIBIL score of 750 is considered excellent by most lenders. However, a score of 800 puts you in an even more favorable category for the best interest rates and loan amounts. While 750 is good reaching 800 takes some work.

In this article we’ll explore simple and effective ways to boost your CIBIL score from 750 to the ideal 800 mark.

Why is a CIBIL Score of 800 Ideal?

• A CIBIL score above 750 is rated as excellent, but 800 and above is considered outstanding.

• At 800, you become eligible for the most competitive interest rates from lenders. This can save you thousands of rupees over the lifetime of big loans like home and car loans

• You also qualify for higher credit limits and faster approval on loans and credit cards.

• Lenders see you as an ultra low-risk borrower and reward you accordingly.

• Achieving a score of 800 shows your dedication to financial responsibility. It reflects years of hard work and discipline with credit.

In short, a CIBIL score of 800 unlocks the most favorable loan terms and demonstrates your creditworthiness. Now let’s look at how to go from 750 to 800.

1. Pay All Bills on Time

Payment history has the biggest impact on your CIBIL score. A single late payment can drop your score by 50-100 points.

Set payment reminders and automate payments so you never miss a bill. This builds a record of perfect on-time payments month after month.

2. Lower Your Credit Utilization Ratio

Don’t use more than 30% of your total available credit limit across all cards and loans. Even if you pay in full, high utilization signals risk and lowers your score.

For example, if you have a total credit limit of ₹5 lakhs, keep your monthly spending below ₹1.5 lakhs. Spread spending across multiple cards to stay under 30% on each one.

3. Don’t Close Old Credit Cards

The average age of your credit accounts impacts 10% of your score. Close old cards and your score drops.

Keep cards open even if you don’t use them. Just charge a small expense once a year to keep them active.

4. Mix Types of Credit

15% of your score depends on your credit mix. Having different types of loans and credit cards shows your ability to manage diverse accounts responsibly.

Aim for a mix of secured credit like home and auto loans along with unsecured credit cards and personal loans.

5. Limit New Credit Applications

Each credit application causes a hard inquiry on your report. Too many in a short period suggests you’re credit hungry and desperate.

Wait at least 6 months between applications for new credit. This gives your score time to rebound from the hard inquiry.

6. Correct Errors on Your Credit Report

Errors on your credit report drag down your score. Regularly review all 3 of your credit reports to spot and dispute mistakes.

Correcting errors like duplicated accounts, incorrect balances, and reporting of paid debts will boost your score.

7. Become an Authorized User

Ask a spouse or family member with excellent credit to add you as an authorized user on their oldest credit card. Their positive history will be reflected in your score.

Of course, use the card responsibly by keeping your utilization low and never missing payments.

How Long Does It Take to Increase Your Score from 750 to 800?

With responsible credit habits, you can expect your score to steadily climb around 50 points per year. To go from 750 to 800, it typically takes:

• 6 months to reach 775
• 12 months to reach 800

The key is patience and persistence. Pick a few score boosting habits and stick to them long term.

When NOT to Expect Instant Results

Many credit repair agencies claim they can instantly raise your score by hundreds of points. But the truth is there are no shortcuts.

Avoid places that promise easy credit score fixes. Tactics like:

• Renting a high score
• Creating synthetic credit history
• Disputing all negative marks at once

These may offer a (very) temporary boost but often do more harm than good in the long run when lenders detect what happened.

The only way to sustain an excellent credit score is steady, responsible money management over time.

Monitor Your Credit Score

The first step to increasing your score is knowing your starting number. Sign up for free services that provide your score and regular updates.

Watching your score over time motivates you to keep improving. You’ll also catch any sudden drops that need attention.

Maintain Financial Discipline

A CIBIL score above 800 reflects years of restraint and smart credit decisions. Don’t take it for granted once you get there.

Stay focused on on-time payments, low utilization, and keeping old accounts open. Consistently good financial habits make high scores a lifelong benefit.

A CIBIL score of 800 unlocks the most favorable interest rates and loan amounts from lenders. While 750 is considered excellent, reaching 800 requires diligently building your credit over time.

Focus on responsible habits like paying bills on time, limiting new credit applications, and keeping utilization low across all cards and loans. With discipline and patience, you can reach 800 in about a year.

The reward is saving thousands on interest and getting approved for just about any loan you need. Monitoring your score and maintaining good financial habits will help you enjoy an 800+ CIBIL score for life.

To elevate a 750 credit score to 800, focus on maintaining a flawless payment history, managing credit utilization responsibly, and potentially diversifying your credit mix.