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Is your score low? In fact, a low score makes it much harder to achieve our goals. Find out in this content the reasons why your score drops.
First of all, the credit score is one of the most used tools by institutions. In fact, it is consulted even when contracting a simple cell phone plan.
It is based on this “thermometer” that companies analyze whether the consumer is able to pay off the debt or not.
In other words, the indicator shows the chances of installments not being paid within a 12-month period. See the reasons!
Your score is low because of late payments!
First of all, if you have the habit of paying bills only after they are due, stop now.
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Late payments, especially those over 30 days, are reported to the Positive Registration, as well as payment on time.
Therefore, This is one of the pieces of information that credit bureaus use most when calculating scores. Therefore, this is one of the first reasons that leave the score low.
Many credit applications simultaneously
The second reason that your score decreases is the act of making too many credit requests simultaneously.
Even more so when your credit analysis is denied by several institutions at the same time.
Therefore, be careful with excessive debt. In fact, a low score is a sign that it is time to stop and control your accounts.
Many loan, financing and credit card installments on the CPF
If on the one hand it is necessary to have “well-paid debts” for the score go up, on the other hand, many payments make the score decrease.
This does not mean that you are a bad payer, but rather that there are many financial commitments that generate “a certain risk” for creditor companies.
Negative accounts in SPC and Serasa: the great villain of low scores
A negative debt is, with good reason, one of the biggest villains of credit analysis and overall financial health. As well as greatly reducing the score.
So, check your CPF in the market and if this is your case, arrange for renegotiations. Take advantage of Serasa's Turbo Score offers and discounts for paying off debts.
Providing false information also lowers your score
Another reason for a low score is false or outdated information. Therefore, do not lie about yourself or omit important information, such as income, for example.
As well as having different addresses and telephone numbers at each financial institution. Because, banks cross-reference various data together with Serasa and SPC.
In that regard, contradictory information is a very negative factor and directly influences your score. So, keep your registration data always updated and truthful.
In conclusion, these are the main reasons that cause a low score. Have you ever been in this situation too? Leave your message! Follow our social networks at Facebook and in the Instagram!
