How can you build a credit score without a credit card

Updated: 20 September 2023

Published: 7 December 2022


CIBIL or Credit Information Bureau (India) Limited is a three-digit code that denotes the credit history of a person. It includes the details of the credit history of an individual and is maintained in the Credit Information Report (CIR). Credit card is one of the predominant factors in maintaining a credit score. Hence, many people have myths that credit card is the only thing that can hype up the credit score. But an individual can also maintain the credit score with other techniques. Paying the EMIs of your personal loan, business loan, home loan, or any other type of loan on time. Besides this, a person can also opt for the financing of items rather than paying the full amount at once. Here are certain tips that can help you to boost your CIBIL score even if you do not have a credit card.

Tips to boost your CIBIL Score without a credit card

Personal Loan

A personal loan can be a good option if you want to boost your credit score. Personal loans are unsecured loans or signature loans that can be applied by an individual based on personal documents and financial details. This type of loan does not require any asset as collateral and can be disbursed easily based on your eligibility.  Taking a personal loan based on your needs and paying Equated Monthly Installment ( EMI) on time can enhance your credit score.

Car Loan

Car is not a luxury today rather it has become a need for everyone. Taking a car loan can help you to increase your credit score. Financing a car is a cakewalk in today’s time. It is preferable to pay a certain amount as a down payment and manage the rest as EMI. Pay EMI on time to build your credit score. Taking car loan can satisfy your needs two-fold, you shall own a car with lesser savings and it will enhance your credit score.

EMI of existing loans

Pay the Equated monthly statement or EMI for the precising loans without missing or due it. Here is a tip that can help can help you to remind yourself of all the EMIs. Set the reminder on your phone and pay EMIs on time.

Financing the required things.  

There are many NBFCs and banks that provide finance at a 0% interest rate on vital things. It is always better to opt for finance at zero or low-interest rates rather than paying the whole amount at once. Pay the amount in small installments and get rid of the burden of spending more amount at once.


Boosting the credit score shall be profitable for you in the long run of life. Break the myths that only credit cards can enhance your credit score, there are many ways to increase your CIBIL score. The above-mentioned ways can pave the path to an enhanced CIBIL Score. Opt for finance and personal loans and pay your EMIs on time to grade up your CIBIL. Check your CIBIL Score swiftly with My Mudra and look up to the points to enhance your score.

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