611 is not a bad credit score. You can still land up with most loans and credit cards in the market. But, you will have to pay expensive interest rates and pay higher credit card bills, since your credit score is lower. You just have to pay premiums and assume higher interest rates. Submit more documents if you think that will help.

Your credit score is a key indicator of your creditworthiness to the lender. With the recent spike in NPAs across lenders, they are treading with caution while making lending decisions. They know that a higher credit score reduces the risk of default and increases the chances of getting approved for a loan. So it is important to pay close attention to your credit score.

Just follow these simple steps to improve your score:

  1. Pay your bills on time and in full. 
  2. Strive to improve your credit report by paying off old bills and repairing damaged credit.
  3. Maintain a healthy credit utilization ratio of 30% or less
  4. Improve your credit mix by having a mix of credit cards, loans and installment loans.
  5. Review your credit report once a year to check for inaccuracies and get them duly fixed

Credit Repair Services

It wouldn't hurt to seek professional help to fix your credit. There are various credit repair services available online and offline. CreditMantri offers premium credit improvement services that can help improve your credit score. Call us today!