The credit score is a score made by global information companies, so that people can access better credit opportunities. Of course, this record can also impact other aspects of your lifestyle, so it is quite common to seek to have a good score, and therefore, we will tell you some things you can do to improve your credit score:
Avoid paying minimal amounts
This is something that not many know, but when a person chooses to pay the minimum required of their credit card, in reality, it only ends up lengthening their debt and making it bigger. I am, since most of this credit is used to cover the interests that generate the debt, instead of directly paying what is due, so it is better to use this option only when you have no other option to be able to settle the debt as quickly as possible.
Pay on time
The most obvious, and known way to improve the credit score of a card, and that can even repair your credit history, is to pay all your loans and credits on time, not only during the deadline, but even before even. Doing doing will make you much more reliable for financial institutions.
Schedule payments
Programming the payments of your debts is a tool offered by credit institutions, which their users can use free of charge. If you do this, to program the payments of your debt for certain days, you will not only avoid delays, but you will call the attention of these banks, being able to get a better score.
Leave balance on your cards
To improve your credit score you not only need to pay your accounts, but you should also seek to maintain at least 10% of your money deposited on your card constantly. This will keep your accounts active, and give greater control in your finances for banks.
Do not request several credits simultaneously
Although, requesting and paying off several credits can be something positive to improve your score, ask for multiple cards or loans consecutively or in a short period of time can generate multiple consultations to your history, which could be interpreted by entities as a desperate search to obtain credit.
Cancels only what you see necessary
Anyone who wants to improve their credit score should know that the longevity of their credits and loans is normally 15% of the credit rating. Therefore, canceling them may not be your best option to access a greater loan, the most recommended in these cases would be to analyze your accounts to decide which one to keep and which to extend, until you finish canceling everything gradually.
Be sure to cancel your credits
More than a guideline to follow, this is a advice, since it is quite common for a person to be mistaken with their finances and heel as “canceled” debts that are not really. Therefore, it is recommended to always make sure that the debts they pay are completely liquidated, closed and inactive, so you will prevent them from being generated commissions or interests without being accounted for that they would not only make you spend more than necessary, but that they could ruin your credit history.