Gifted money does not directly affect your CIBIL score as it depends on your credit behaviour and financial management. But here s how you can use this money to improve your score indirectly.
There are numerous ways to improve your credit score quickly: paying off your existing debt, paying credit card bills on time, maintaining good credit mix and reducing credit utilisation.
While your CIBIL score is a key factor in determining your eligibility for an unsecured loan, banks consider other aspects of your financial profile as well such as your income, employment stability, existing debt obligations, and overall credit history.
Credit History: If you are using credit cards for a longer time or paying Home loan or personal loan EMIs constantly on time, it will show your good credit history to improve your CIBIL score.
Secured credit cards are meant for individuals who have poor or no credit history. You will need to give a security deposit, that serves as your credit limit. Use the card responsibly by making small purchases and paying off the balance in full each month to show responsible credit usage.