Credit score: A good credit history for a secured future

Surabhi : Mon Jan 21 2013, 10:04 hrs

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Be practical: Don't apply for credit cards or loans if you don't need to, as it means increasing your credit exposure. Also, always remember — more credit cards means you have more room to spend even if you do not have the means to repay back the debt.

Be a planner: Keep a tab on your savings. At times, it is better to pay back outstanding loans by using up some of your savings than paying interest on the debt. Not only does it mean a better credit score, but in the end you also save more as the interest component on loans is usually much higher than what you earn by keeping cash in your savings account or in a fixed deposit.

— surabhi.prasad@expressindia.com

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