Boosting or increasing your credit score to get at least a good score – If you’ve been denied a personal loan, real estate mortgage, real estate lease or credit card, chances are you have something to do with your credit score. credit. Many do not even care until they find out that the name is dirty, however, you can learn more about credit and consumer protection reports here.
How to Increase or Boost Your Score and Credit Score?
Creditors and credit bureaus in general expect a time that varies according to the type of transaction to send their name and CPF for enrollment as negative, either in Serasa Experian or in SPC Brazil or in Boa Vista (SCPC) – But all Once this happens you become defaulter and you can be sure that significant damages are caused to your credit score and drop in points of the Score.
But let’s talk about good things .. In this article are six tips for you to increase your Score and boost your score, and with that, get increase in your bank credit limits and benefits in the use of credit card, in addition to access to credit, personal loans and much more advantageous financing.
It is worth mentioning that you should not forget that the most important variable in almost every scoring agency is your payment history. It is essential to ensure that you make payments within the terms agreed by contract. Also do not forget that if you have made mistakes in the past, that is, you have stopped paying your bills, it may be that to boost your score takes a little longer. Wants to know? Read it all the way.
1. Pay the bills on time and reduce the amount of debt
This includes credit card bills and debits and all types of installment debt that you are currently owed to assist in maintaining your positive Score.
2. Pay off credit card bills fully at expiration
If this is not possible, be sure to pay a portion on the due date (preferably beyond the minimum) and check if there is a plan for installment payment to pay the remaining balance or to be financed.
3. Set up notifications with payment date
Many lenders are currently using modernity and technology these days. Most of them will enroll you in some sort of option that notifies you before the expiration of your invoices or accounts payable before expiration, use this type of service.
4. Automate your bill, invoice and ticket payments
When you activate automatic payments with your credit card or automatic debit, you do not lose any due date and consequently keep your Score increasing or stable.
5. Always pay your debts with higher interest rates
Try to pay off your credit cards with higher interest rates first. This will improve your credit score and reduce with time the rates and interest applied to your profile. Consider reducing your card spend to about 40% of the maximum limit allowed, the more you get close to your card’s credit limit, the more your score is negatively affected.
6. Consider your credit cards carefully
Contrary to many beliefs, cancellation of unused cards does not have a positive impact on the increase of the Score and the boost of the credit score. However, borrowing a lot of new common cards or a credit card to negatively or more than one in the same year and canceling others, can actually have an even more negative impact on your credit score if you do not use them the way correct and change consumption habits.
Instead of doing all this trick, try this : trust two to three credit cards that you will use often but with caution. Building credit wisely over time is sure to help your credit score.
7. Consider a loan with a small portion
If you are in need of personal credit, and are having difficulty getting a good conventional credit card, the option of taking a split loan can be a good credit strategy. A installment loan is a loan that is paid in a short time or over time with a predetermined number of payments, usually at least 12 months.
When you get personal loans and pay properly, it demonstrates that you are a credit worthy consumer for having paid your payment flow on time.
Credit score is more than a simple number. Remember this!
The top three credit reporting agencies in Brazil, in addition to monitoring Score and credit, calculate your score taking into account several factors, including:
- The types of credit you have contracted
- How long will you pay your financial commitments?
- How much credit balance are you currently using
- How’s your payment history?
- Which debts are in arrears in the last months and years
- What status of your “payment performance” in recent years
Find here relevant information about Score:
1. 3 Reasons To Have Credit Denied Even With Excellent Score
2. Who can verify your credit information in addition to you
3. Why Monitor Credit Score? Worth it?
To boost your Score and credit score, follow these seven tips outlined above, check your credit reports constantly and protect yourself from being the victim of fraud or identity theft. After all, it’s your credit that’s on the line.