If you happened to be the one who is looking to buy a property on a bank loan, but the thought of bank refusal putting you down, here are few tips to get away from those scary thoughts and increase your credit score quite easily.

Never exceed the credit limit

Sometimes people utilize more than their available credit limit. This overspending may not hurt you instantly but will hamper your credit record in the long run. It is therefore essential that you never exceed your credit limit. If you need more credit available, do so on request.

Never be late in your payments

Showing lassitude in your payments is another wrongdoing that you must keep at a distance as this leaves traces that your future lenders will see several months later. Forgetting to pay the payment for a single month might not have a big effect. However, if this happens for several months, you may have to face serious consequences. If you are drowning in financial troubles, you can pay the minimum payment. It usually represents a tiny percentage of your balance.

Diversity of credit sources

Another element that counts for the coast is the plethora of sources of credit. It's nice to have access to a credit card - a line of credit.

Again, you ought to manage your finances well. It's better to have at least two sources of credit so that your credit score will go up faster. Also, instead of depending upon single line, it's always better to have access to several sources of funding, so that you can pay the balance without much difficulty.

Improving your credit rating is not rocket science, but it takes discipline and time. Remember that you should never consider the limit of your credit card as money to spend. Rather, rely on the balance available in your bank account.

--Shailaja K