Pay Bills On Time: consistently paying your bills, like credit card statements and loans, on time shows responsible financial behaviour.
Use Credit Wisely: Use only a portion of your available credit to keep your credit utilization low. Aim for below 30% utilization.
Diversify Credit Types: A mix of credit types, such as credit cards and loans, can demonstrate your ability to handle various forms of credit responsibility.
Avoid Opening Too Many Accounts: Opening multiple accounts in a short time can lower your average account age, impacting your score.
Keep older accounts open: The length of your credit history matters, so keeping your older accounts open and active will help you increase your credit score.
Regularly Check Your Credit Report: Monitoring your credit report helps you catch errors or unauthorized activity that could affect your score.
Limit credit applications: applying for credit frequently can raise concerns about your financial stability, so limit your credit applications.
Manage Debts: Reduce Over time; try to reduce your debts to show your commitment to financial responsibility.
Become an Authorised User: Being added as an authorized user on someone else's established credit account can positively impact your score.
Avoid Collections: Unresolved collections can have a significant negative impact on your credit score, so be careful about them.
Build Stable Employment: Lenders appreciate a stable employment history, which can positively reflect on your creditworthiness.