As the Cricket World Cup draws closer, we’ve designed the ideal game plan to ramp up your Credit Score! Curious? Read on!
As the big fat Indian Elections conclude, a new mega-event is almost here; the Cricket World Cup. A sport that’s regarded as a religion in the Indian sub-continent, cricket is surely going to take the limelight as England opens its pitches to what will surely be a memorable fight for the sought-after World Cup trophy.
Wondering why we’re going on about cricket? Turns out you can really learn some neat lessons about maintaining your Credit Score through this beautiful game. Wondering how? Well, read on to find.
Every legendary batsman has a trademark shot that we remember him by, and here are a few shots that you can take inspiration from when it comes to your Credit Score.
Additional Reading: All About Your Credit Score
Keep Bad Debts At Bay With Rahul Dravid’s Solid Defence
Rahul Dravid is known for his patience, perseverance and consistency – no wonder he’s regarded as one of the finest test cricketers of all time. He uses his grit and defensive ability to frustrate bowlers. Once the bowlers get to know that nothing can get past his front-foot defence, they give up in frustration. Similarly, you need to know how to handle your debt situation in order to build a robust credit history, especially when it comes to paying your dues. Ensure your loan EMIs run as planned and do not drift from your long-term commitments – you’ll be rewarded in the long run.
Time Your Credit Applications Like Sachin’s Straight Drive
There’s no one who can play the straight drive as gracefully as the master-blaster himself, Sachin Tendulkar. When it comes to batting, the key to more runs and a successful inning is timing, and that’s exactly what you can keep in mind when you’re applying for credit. What you can do is monitor your Credit Score regularly and ramp it up as you go. Once you’ve reached the 700+ category, you can consider yourself to be in form! Now would be the sweetest time to apply for a Credit Card or Personal Loan, because with a Credit Score of 700+, chances are that lenders will approve your application easily.
However, do remember to space out your credit applications to avoid multiple hard enquiries, just like the little master spaces out his choicest signature strokes to keep the bowler in suspense.
Additional Reading: A Brief History Of Credit Scores
Knock Credit Card Bills Out Of The Park With Dhoni’s Helicopter Shot
If there’s one cricketer who can knock the ball out of the park in style, it’s MS Dhoni. Be like him when you’re dealing with Credit Card bills, because your minimum due every time may not be the best option. Credit Card bills can pile up like snow, so it’s best you pick up the bat, forget the ones and twos and hit your bill out of the boundary. – by which we mean, settle your bill in full by making big payments. This way, your credit utilisation ratio stays healthy.
Keep Your Portfolio As Versatile As Virat Kohli’s Drives And Cuts
The current Indian skipper is one of the finest batsmen in the business today. He approaches the sport from a technique-based perspective and hence is able to use a plethora of cricketing shots in every inning he plays. This makes him a tough batsman to bowl to. What you can learn from Kohli’s batting is to keep your credit portfolio versatile – always maintain a healthy credit mix of cards and loans. A broad portfolio tells lenders that you’re capable to managing different types of credit well. What’s more? It’s great for your Credit Score too.
Additional Reading: Why You Should Read Your Credit Report
Use Ponting’s Pull Shot To “Pull” Your Credit Report Regularly
A veteran who knows how to disrupt a good bowling attack, Ricky Ponting is famous for disrupting new ball bowlers with his trademark pull shot. He uses this shot to assert his dominance over the game. Similarly, you can take charge of your finances by pulling your credit report for FREE on a regular basis and staying updated with your Credit Score. This way, you’ll know how your Credit Score is changing over time and can adapt according to the situation.
Ready to get off the mark?