Why your credit score matters 📝

  • Don’t miss any repayments and don’t pay late.
  • If you don’t have a credit score yet, some institutions offer a product called a ‘credit-builder’ to enable people with no score to get onto the ladder, or people with low scores to start again. Ask your bank.
  • Pay your credit card off in full each month. Besides credit card interest being very expensive, this also reflects well on your credit score.
  • Don’t apply for too much credit at once. It’s a warning sign to the bureaus that you might be in financial distress. Actually, don’t apply for too much credit — full stop. Having access to credit increases your risk of going deeper into debt.
  • Try to stick with a single credit card. One lender trusting you for several years can have a positive impact on your credit score.
  • Close accounts after you’ve settled them — especially store accounts.
  • Pay close attention to your personal information. The details saved for the financial products you use must match the details on the credit bureau database, otherwise your score might not be recorded.



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Thoughts, observations and insights. About money, life and 22seven. Visit 22seven.com