Among the main questions for the borrowers are: how to raise a score, how it's calculated, what kinds of scoring are used. In the article we try to answer the most important question - we give you 3 useful pieces of advice how to make your score higer and by this to raise your chances of approval for a Payday Loan, Installment Loan or Personal Loan with lower interest.
3 Ways to Raise Your Score.
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Try to increase your credit limit.
If you:
- make payments on time
- have a steady balance
- want to decrease the utilization rate
Do the folowing: ask the credit card company to raise the credit limit.
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Show you can handle different kinds of debt.
If you lack money apply for Different Types of Credit and pay them back on time. It will show that you can successfully deal with different credit types.
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Open a new account and make on-time payments.
If you need extra money and want to appy for a loan or get a new credit, open one more account. But handle it responsibly:
- make payments on time
- don't borrow more than you can afford
The above tips if followed will definitely help raise your score and keep it high. But remember: be consistent in your credit habits. In other words, don’t forget the fundamentals: don't default the loan, don’t borrow more than you can afford and be careful not to apply for too many accounts at a time.
