Having a high credit score plays a crucial role in your evaluation
This is because having a high credit score makes it easier to obtain credit cards and other financial products with favorable terms.
On the other hand, a low score can make it difficult to get credit approval and result in higher interest rates.
We have compiled 10 tips to help improve your credit score:
Make timely payments on your commitments: This greatly influences your score. Ensure you make payments on all your bills promptly. Consider setting up automatic payments to avoid delays.
Reduce credit card balances: The ratio between the amount used and the credit limit of your card has a significant impact on your credit score. Try to keep credit card balances as low as possible, preferably below 30% of the available limit.
Avoid obtaining too many credit accounts: Regularly using your credit card can negatively affect your credit score. Avoid getting multiple credit accounts simultaneously, as it may indicate that you are taking on more debt than you can manage.
Regularly check for errors: Verify that all information is accurate and up-to-date. Errors in the report can decrease your credit score.
Consider using a secured credit card: If you have a low score, a secured credit card may be a viable option. These cards require a security deposit that becomes your credit limit. Responsible use of a secured credit card can help improve your credit score.
Use credit responsibly: Use credit responsibly, only taking on debts you can afford. Try to pay off your balances in full each month to avoid accumulating interest.
Have a mix of credit types: Having a combination of different types of credit, such as credit cards, car loans, or mortgages, can be advantageous for your credit score. This demonstrates your ability to manage different types of debt.
Don’t cancel your cards: Cancelling a card can reduce your credit score as it decreases your total credit limit. If you don’t use a specific card, consider keeping it open and using it occasionally to maintain a healthy credit mix.
Avoid maxing out your cards: Maxing out your card limits can negatively impact your credit score. Try to keep balances as low as possible and pay as much as you can each month.
Be patient: Building and improving your credit score takes time and discipline. Have patience and maintain consistent commitment to responsible credit use.
The Serasa Score app is a tool developed by Serasa Experian, a credit study company in Brazil
The Serasa Score is an indicator representing a person’s credit score, which is the likelihood of paying their bills on time in the upcoming months.
Furthermore, the Serasa Score app allows users to check their credit score for free.
To use the app, you need to have an account and provide some personal information for identity verification.
After registration, users can access their current credit score and receive information about the factors influencing their score.
In addition to the credit score, the Serasa Score app also provides personalized tips and suggestions to improve the score.
It shows payment history, level of indebtedness, the number of CPF inquiries, and other factors affecting the credit score.
Based on this information, users can take steps to improve their score, pay their bills on time, avoid excessive debt, and maintain a good credit history.
It’s important to note that the Serasa Score is just one of several pieces of information that financial institutions consider when calculating creditworthiness.
Each institution may have its own criteria and credit study policies.
However, it’s worth mentioning that the information we provide is based on knowledge up until September 2022 and may be subject to updates or changes in the Serasa Score app.
For more accurate and up-to-date information, we recommend visiting the Serasa Experian website or contacting the company’s support.