During the festive season, many lenders offer to attract customers. Many online retailers provide fruitful offers on purchases with the help of credit cards. It is a beautiful opportunity for millennials wanting to build their credit history and boost their credit scores. You can undergo the free CIBIL score check procedure. You can check your credit score with the help of the CIBIL score app. The guide explains five ways for millennials to build their credit score with the help of festive shopping.

5 Smart Ways For Millennials To Build Their Credit Score Through Festive Shopping

You can go through the free CIBIL score check with the help of the CIBIL score app. The five intelligent ways for millennials to build their credit score through festive shopping are as follows:

Using Credit Cards for Purchases

Several retailers come up with multiple credit card offers during festivals. The offers aid you in earning reward points and cashback, but using the advantage of the credit card facility on credit cards and repaying on time can aid you in boosting your credit score. In addition, with the help of an old credit card, you can raise your credit age, which is a significant aspect that highly affects your credit scores. Hence, you can use a credit card if you want to make a big purchase, such as furniture or an electronic gadget. Timely repaying your credit card bills can aid in increasing your credit score. Using credit cards to boost credit history is one of the most feasible ways. If you repay your dues on time, you may not pay additional charges like interest or processing fees.

Using Equated Monthly Instalments Card/Facility

Nowadays, you do not need to wait and save for months to make big purchases. Many merchants offer no-cost or zero-interest EMI facilities to customers who need help to afford to make total payments. Online and offline merchants provide the facility in collaboration with financial establishments. 

Although the no-cost EMI facility saves some bucks, lenders charge processing and additional fees. Therefore, it is essential to meticulously differentiate between and go through the terms and conditions to dodge any disappointments later. If you do not find any festive offers accessible with your favoured merchant, you can convert the expenses you made with the help of your credit card into equated monthly instalments. 

Nonetheless, you might attract high-interest rates if you avail of the credit card equated monthly instalment facility without no-cost equated monthly instalments.

Take a Personal Loan

If you make more significant expenses during the festive season but do not have savings, you can opt for a personal loan to meet the substantial costs. There is no restriction on how you will use the personal loan amount, and you can use the amount for any legal purpose, such as purchasing a vehicle or renovating your home, etc. The interest rates of personal loans are higher than those of secured loans. Financial and non-banking financial establishments offer great discounts on interest rates during festivals. 

Before applying for a personal loan, comparing the interest rates and other factors every lender provides is essential. Getting a personal loan repaying on time can aid in boosting your credit score.

Retain Credit Utilisation Ratio

Many of you may need to pay more attention to the credit utilisation ratio aspect, which is vital in estimating your credit score. The more you use your credit facility with the help of your credit cards, the less your credit utilisation ratio will be. If you use your credit card frequently and use the EMI facility, you can use many credit cards or boost the credit limit on your current card to retain the credit utilisation ratio.

Repay Timely

It is essential to pay your credit card bills and loan instalments. Whether you apply for a personal loan or a credit card to build your credit history, you can ensure to make a repayment plan. You can take advantage of the auto-pay facility to guarantee to pay on time. If you want to spend less time during the festive time, you can boost your credit score if you apply for a lifetime free credit card that comes without joining or yearly charges and repay the due timely.


Even though having credit cards and loans is vital to boost your credit score and build a solid credit history, it is advisable to only apply for a few credit cards and loans simultaneously. Whenever you send applications for new loans or credit cards, the lender you opted for enquiries about your credit scores and reports with credit bureaus and numerous credit enquiries in a short span can adversely impact your credit score. You can go through the free CIBIL score check process, and for convenience, you can use the CIBIL score app

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