A low credit score can prevent you from being able to get a credit card until you finance a vehicle or property and ask for personal loans. That’s why it’s so important to have a good score. The secret no one tells is that it is possible to increase the score with simple actions. As well? OK, let’s go:
Never be denied
This is simple. Every time you are denied, your credit score goes down a lot and can even zero. That is, it drops from 999 to 0 depending on the time you spend being negatived. Avoid this at all costs.
Always pay your bills on time
A paid payment history can help you a lot with your score.
Just borrow what you can afford
When you acquire a healthy credit habit, it is also recorded in the databases of financial institutions. So if you apply for personal loans in the amount of R $ 1,000 and release R $ 3,000, keep only what you requested, it is probably the amount you can afford.
Use only a portion of the amount of credit the bank approves for you
The same as in Item 3, just “accept” what is within your possible payment plans.
Start with only 1 credit card
Accumulating a very large number of cards can mean a large amount of debts. So be careful not to make that mistake.
Pay the full invoice of your credit card
Spend only what you are able to afford financially, so you will have no problem paying your full bill at the end of the month. Paying everything up – to – date shows that you are a good payer, something that lenders cherish a lot.
Remove your bills before expiration
Not all of your monthly payments will be listed on your credit report, so they do not directly affect your score, as long as you’re paying them on time, of course. But any account can potentially influence your credit if you become defaulter. So anticipating would be a good margin of safety.
Keep old bank accounts active
Leave your old accounts open as they help increase your creditworthiness and build a good credit reputation. In fact, wrapping up a credit card can affect your score in the market.