score low? 3 tips from Nubank will upgrade your score

a Balance level It is a score used by banks and financial institutions to determine how safe it is to extend credit to a consumer. This score is based on the citizen’s payment history, where it is analyzed whether he pays his debts on time or is permanently behind.

Read more: Want to know your score? Free consultation that reveals if you have debt

Thus, by having a high score, the citizens will be able to get credit from the banks more easily, since they have a history of being good buyers in the market. In this way, when applying for a loan or credit card limit increase, for example, the chances of your application being approved are greater with a high score, which determines whether the customer is reliable for approval or not.

How do I raise my grade?

If you have a low score and want to increase it to improve your image with the banks, know that Nubank has included some tips on How to increase your score. With them, roxinho customers will be able to increase their card limit and also get loans from other financial institutions.

Check out some of these tips!

1. Pay attention to the negative noun

By registering as a defaulter with credit protection agencies, such as SPC and Serasa, know that your score can seriously change. In this way, it is necessary to pay attention to paying bills on time so that you will not have a bad name for a long time.

2. Don’t get into debt

Even if this advice seems obvious, know that it is the most important of all. When there is active debt in the market, banks wonder why as well as the consumer’s ability to repay. Thus, consumers without debt receive a higher score, which is one of the main criteria analyzed in credit issuance.

With this in mind, try to pay off your debts on time and maintain your financial foundation, keeping in mind your income and basic costs. This will make it easier to avoid debt. However, if it is not possible to pay the bill in full, then at least pay the minimum amount.

3. Keep your information updated

Finally, another important metric for you to increase your score is to keep the information up to date on the banks. Thus, any changes to the initially reported data must be reported. For example, in cases of change of address, contact forms, monthly income, among others.

Therefore, the income should always be up to date, especially if you intend to increase your card limit.