In a recent webinar organised by the Moneylife Foundation, Aparna Ramachandra, the founder director of Rectify Credit, took the virtual stage to discuss ‘Actionable Strategies for a Strong Credit Profile.’ With her extensive expertise in credit management and financial empowerment, she provided valuable insights and practical tips to help individuals improve their credit profiles. The webinar proved to be an enlightening session for participants eager to take control of their financial well-being.
During the webinar, Aparna shared several strategies that can contribute to building a strong credit profile. Some of the key takeaways from her insightful session are mentioned below.
Aparna emphasised the significance of understanding one's credit report and score. She also shed light on how credit reports are generated, what factors affect credit scores and how individuals can access their credit information. By being aware of their credit standing, individuals can make informed decisions to improve their financial health.
One crucial aspect of a strong credit profile is maintaining a history of timely payments. Aparna stressed the importance of paying bills and debts on time, as this significantly impacts credit scores. She discussed practical strategies for managing debt effectively, such as creating a repayment plan, negotiating with creditors and consolidating debts when appropriate.
Establishing a positive credit history is vital for a strong credit profile. Aparna provided guidance on how individuals can begin building credit, even if they have no prior credit history. She discussed the importance of responsible credit card usage, diversifying credit types, and the significance of keeping credit utilisation low.
Participants learned about the importance of regularly monitoring their credit reports for errors or inaccuracies. Aparna explained the process of disputing such errors and highlighted the rights consumers have under credit reporting laws. By proactively addressing any discrepancies, individuals can ensure the accuracy of their credit information.
The attendees were left with valuable insights and practical advice. Aparna’s expertise in credit management and financial empowerment enabled participants to gain a deeper understanding of credit profiles. By implementing the strategies shared during the webinar, individuals can work towards building a strong credit profile, leading to better access to credit and improved overall financial well-being.
A Video Recording of the Session is Available on Our YouTube Channel