A credit score is necessary because it is through it that institutions approve loans. Therefore, here we present how you can increase your credit score.
With a few adjustments to your budget, we can significantly increase your score. If necessary, ask a financial analyst for help to create a personalized plan.
How many points in the score are considered good?
To get greater approval for loans and financing, we must have a score from 501 to 700 points.
One score very good is when you are above 700 points. The Serasa created this points system with the aim of proving that the customer is a good payer.
In general, banking institutions evaluate scores in the following way to help.
- Bad score: 0 to 300;
- Regular score: 301 to 500;
- Good score: 501 to 700;
- Excellent score: 701 to 1000.
THE score can help customers obtain better financing conditions, with lower rates and more flexible terms. To obtain a credit card, for example, it is necessary to have a score of 501 to 1000 points.
For other financing, the recommended score is 700 points, as banking institutions can evaluate the criteria below:
- Client's financial condition;
- Your current monthly income;
- History of relationship with banking institutions.
This information is important so that your financing or loan can be approved, in certain situations the score can fluctuate up to 50 points.
However, banks evaluate the history in general, and not just an isolated number.
Tips to increase your credit score
If you want to know how increase your credit score, it is important to understand that the score is related to your budget. Below, we list some measures that can help improve your score.
1. Make a plan
Good financial planning can help increase your score, if you are in need of a loan, approval may occur more quickly.
Nowadays, we can have planning in the form of spreadsheets or cell phone applications.
2. Get to know Folia for free consultation
This is a resource used during Carnival, so that people can enjoy the party without running the risk of getting into debt, this way, you can go out without forgetting your bills.
3. Take advantage of opportunities to clear your name
Thanks to Serasa Clean Name Fair, you can balance your accounts, significantly increasing your score.
This trading event has made millions of offers available since its launch, helping thousands of Brazilians.
4. Be careful with commemorative dates
Holidays tend to be very tempting, especially dates like Easter, for example. To avoid debt, research the best deals. Group purchases can also yield a good discount.
Conclusion
So you already know how increase your credit score, so if you have debts, contact the companies to negotiate, after the pandemic, many companies are offering discounts to help customers.
So, if you need a loan, take note of your current income, the loan cannot exceed 30% of your income!