Advertisements
How to increase your score is one of the most frequently asked questions when we talk about obtaining credit.
This is because the score assessment is one of the main criteria for granting loans and cards.
But what is a score? How can you increase it? When should you do so?
These and other questions will be answered throughout the following content, where we'll give you practical tips for solving the problem.
That said, if you want to understand everything about the subject and improve your credit chances, join us in this reading!
What is a credit score?
You've certainly been in the situation of applying for some type of credit and having to wait for the analysis process.
This analysis aims to certify that your credit profile is adequate and provides security to the company.
The most common method of profile analysis is the credit score.
But what is a score? What is this feature for? How can I increase my score?
THE credit score is a resource created by Serasa to quantify a customer's level of payment ability.
This index ranges from 0 to 1000 points, and is classified as follows:
- 0 to 300 points: bad;
- 301 to 500 points: regular;
- 501 to 700 points: good;
- 701 to 1000 points: very good.
The purpose of this score is to indicate the likelihood that this customer will pay off their debts in the next 12 months.
Therefore, the higher your score, the greater your chances of getting a credit card, loan or financing.
It's worth mentioning that this score is calculated based on a number of criteria, and is based on the customer's financial history.
Therefore, customers who are debt-free and pay their bills on time tend to have higher scores.
It is worth noting that this score is not fixed, and varies as the customer's credit history changes.
Therefore, it is perfectly possible to increase your score if yours is low.
This way, you can improve your profile and get better financial opportunities!
How to increase your credit score
Throughout the previous topic, you were able to understand what a credit score is.
So, now you know that to get good credit opportunities, it is essential to have a good score.
But, as we've already said, the score is variable and can drop drastically simply because the customer acquires debt or is late in making payments.
And, after a drop, it can be a little difficult to recover your score, since you need to “clean up” the history that became negative.
But the good news is that although it's not something that can be resolved overnight, it's still possible to increase your score.
This is because, if you invest in practices that improve your history and enhance your profile, your score tends to increase.
To get credit you need a score of at least 500, but to guarantee approval it is ideal to have 700 points or more.
Therefore, whatever practice helps you gain points will certainly contribute to maximum profile improvement.
So, let's now look at some tips that will help you increase your score!
Put bills in your name
This is a tip that many people don't even consider, as they don't associate having accounts in their name with building a credit history.
But let's just think: if a late bill hurts your score, why doesn't a bill paid on time help?
And the answer is that having bills paid on time certainly helps a lot in building a positive history.
So, all the accounts you can put in your name, do so!
Remember that for this tip to work, it is important that you pay the amounts on time, otherwise the effect will be the opposite.
So, if you want to increase your score, know that the more positive payment history you have, the better your ratings will be!
Include CPF in the invoice
Some say that the CPF on the invoice only serves to prevent tax evasion.
But the truth is that including your CPF on the invoice also serves to associate a purchase with you.
This is because, with your document on the invoice, it is recorded that the sale was made to you.
And, as we well know, the more you buy and pay, the better your track record gets.
This is because purchases indicate purchasing power, and purchasing power is highly considered when granting credit.
Therefore, if you want to increase your score, avoid skipping this step in your purchases, which will certainly contribute to improving your score!
Avoid delays and debts to increase your score
This tip may seem obvious, as we all know that debts are the cause of a drop in credit score.
However, it is important to highlight that even debts that seem most irrelevant must be considered.
Therefore, no matter how small the amount, it is important that you always pay it.
Furthermore, it is quite common for us to end up leaving a bill to be paid 2 or 3 days after the due date.
After all, the interest rates aren't that high, so it's not worth worrying about, right?
Considering only interest, this view might make sense, but if your goal is to increase your score, everything changes.
This is because, no matter how small the delay, it is a delay that becomes a debt, therefore, it interferes with the score evaluation.
Therefore, keeping your accounts up to date and avoiding debt is something that should always be a priority in your daily life.
This way, you will certainly increase your score faster!
See also 👉High Score Manual: A Guide to Your Financial Success!
Invest in your relationship with the bank
The relationship with the bank is one of the main criteria for building a positive history.
This is because, when you bet on frequent use of banking services, it tends to give you benefits.
Therefore, it is not uncommon to see cases where the customer gets a card even with a low score.
And, believe it or not, this card could be all you need to increase your score!
This is because, if your credit profile isn't in good standing, paying off your credit card on time could prove that this assessment doesn't reflect reality.
Therefore, value this card and prioritize paying it in full, as this will increase your chances with other creditors.
After all, if you have a card and can pay it off, it's a sign that your history isn't as negative as you thought.
Therefore, investing in your relationship with the bank is an essential step to increasing your score and changing your profile!
So, now that you understand everything about scoring and know how to increase your score, get your hands dirty with these tips and take action towards your goal!
