Increase your Score: see the steps to improve your score

The score is used and targeted mainly by the financial sector, being one of the essential tools for assessing an individual’s credit risk. It is through this system that companies evaluate the reliability of a potential credit borrower, which, in turn, will influence the decision to approve or deny a credit request, as well as the conditions associated with this approval.

With this objective in mind, one of the main desires of consumers is to increase their credit rating in order to obtain the necessary credit approval to carry out their plans.

Tips on how to increase your credit card score:

Understand the score calculation:

It is extremely important to have knowledge about the method of calculating your credit score, as this understanding is crucial to raising it. Have you ever heard that your evaluation is affected by registration information, negative records in your credit history and other important elements?

Therefore, it is crucial to take care of your finances, have financial planning and always opt for alternatives that do not harm, but that contribute to your credit history.

Find out which attitudes do not influence your credit:

In addition to understanding the criteria for creating your score, it is equally important to discern what is not considered. Take as an example the inclusion of the CPF in the invoice, this has no influence on your credit score, in the same way that an increase in income does not favor you in any way when it comes to credit.

Updated data:

One of the simplest and most fundamental ways to raise your credit score is to keep your information up to date. This demonstrates your commitment to maintaining effective communication with companies should they need to contact you.

Therefore, whenever there are changes to your name, address or mobile number, be sure and remember to update your registration details.

Avoid debt: financing and loans:

You don’t even need to mention that paying your bills within the due date is important to improve your prospects for increasing your credit rating. Even a delay of just a day or two may not result in a default registered in your name, but it can impact levels on your score, in addition to correcting penalties and interest charges.

Furthermore, if you are having difficulty paying your bills within the stipulated deadline, it is advisable to consider modifying the due date details. Another necessary factor is to pay off outstanding financial issues, and it is recommended to negotiate them and arrange for their payment over the shortest possible period of time.

Do not lend your name to apply for other individuals’ accounts:

The most dangerous and negative aspect is borrowing your name to apply to other people’s accounts, as this can be a case and situation of extreme penalty on your credit score, as such payments will not depend on you, but on the person you borrowed your name from.

Organize your expenses:

Organizing your expenses in advance, planning and organizing your expenses is elementary financial management advice, although it is followed by a minority. When your spending is predictable, you reduce the likelihood of late payments or running out of funds to meet your financial commitments.

Pay the full amount of invoices and bills:

Choosing to pay only the minimum bill amount indicates that you are having difficulty meeting your financial obligations, which is undoubtedly a detrimental point for improving your credit score. Furthermore, the additional charges associated with this option are another crucial reason to avoid adopting it.

Avoid installments:

Although paying your purchases in 12 installments can be a convenient way to purchase certain products, it can result in a lack of financial control and have an adverse impact on your credit score.

Be careful when applying for credit cards:

There is no problem in seeking credit in the market, as long as you do it responsibly. If you have recently applied for loans or performed several simulations in several places at the same time, this indicates that you may be facing an urgent need for credit. This action puts the market on alert, and your credit score could suffer a temporary drop.

Final considerations:

It is extremely important to exercise great caution when looking for information on how to improve your credit score, how to raise your CPF score and how to do it quickly. If you come across any offer, method, material or consultancy service that promises to increase your ranking instantly, it is advisable to avoid it as his poses a risk. There is no magic solution or instant formula for this purpose.