Tips
13/08/2024
O credit score is one of the main tools that banks and financial institutions use to assess consumer confidence.
The higher the score, the greater the chances of getting lower interest loans, financing and credit cards.
That's why understanding how to increase it is essential for anyone who wants a healthy financial life.
Next, you'll see proven methods for increasing your credit score, effective strategies to prevent your score from falling and the importance of this index in your financial life.
Keeping a high credit score means easier access to the financial market. With it, you can:
Get credit more easily;
Pay lower interest rates in loans and financing;
Having greater negotiating power with banks and creditors;
Plan your long-term goals with more certainty.
A low score, on the other hand, can hinder approvals, increase interest rates and even generate distrust in the market.
The payment history is most important factor for calculating the score. Arrears on consumer bills, loans and credit cards directly affect your score.
💡 Tip: set reminders or use automatic debit to avoid missing due dates.
Avoid using your entire credit card limit. Experts recommend keeping usage to 30% of available limit. This shows balance and responsibility in the use of credit.
The older your relationship with the credit market, the better for your record. Closing old accounts can reduce the average age of your credit and harm your score.
Having different types of credit (card, loan, financing) shows that you know how to deal with different forms of payment. But remember: ask for credit only when necessary.
Every time you apply for credit, the market checks your CPF. Too many queries in a short space of time can signal risk and reduce your score.
O credit score varies from 0 to 1000 points and takes several factors into account:
Payment history;
Updating registration data;
Register of outstanding or settled debts;
Recent CPF queries;
Long-term relationship with the credit market.
👉 You can check your score for free on platforms such as Serasa, SPC Brazil e Quod.
Having a good credit score can bring numerous benefits, such as
Ease of use approval of loans and financing;
Lower interest rates in negotiations;
Greater flexibility to negotiate terms and conditions;
Possibility of achieving long-term goals, such as home ownership or a car.
On the other hand low score can hinder approvals and increase financial costs.
If you need to increase your score in a short time, follow these recommendations:
Pay your bills on time → even if it's the minimum amount, never delay.
Avoid excessive use of credit → keep the card within healthy limits.
Keep old accounts active → this strengthens history.
Reduce credit applications → only ask when you really need to.
Check your score regularly → to monitor its progress and identify errors.
You can monitor your score on services such as:
Credit Karma
Experian
MyFICO
Have financial discipline and control your spending;
Keep your details up to date with credit protection agencies;
Create a routine for monitoring your score;
Use personal finance apps to organize your budget.
O credit score is one of the pillars of your financial health.
Through simple and consistent habits, It is possible to diversify your credit sources, such as paying bills on time, keeping balances low and diversifying your sources of credit. increase your score and get better financial conditions.
Remember: improving your score is a gradual process, But with discipline and organization, the results appear and can transform your relationship with money.
