You have probably already heard about the term score, present in several articles about credit card, but you know what the credit score? If you don't know, don't worry, because we will clarify all your doubts on this subject.
Check below our article on what a score is, how the score works in credit score and how to access your score.
After all, what is a Credit Score?
O Credit Score it is a score according to a citizen's financial habits in the credit market. According to this score, companies are able to define whether or not a customer is a good payer according to the score level.
In addition, the score is usually consulted by financial companies for the release of a credit card or even one loan, for example. If a customer has a high score, the chances that the request will be approved are high.
How does the Credit Score work?
O Credit Score consists of a score ranging from 0 to 1,000 points. In which the customer is analyzed according to factors such as debt history, timely bill payments, registered data and financial relationship with companies.
According to this score, it is possible to know whether or not the customer is a good payer. For example, a score of 0 to 300 may indicate a default risk. A score up to 700 may indicate medical risk and above 700 a high score.
Which companies can consult the Credit Score?
Companies such as stores, banks, financial services, telephone companies, TV, telephone and internet. In addition to service providers in general, they can consult your score.
Where can I check my Credit Score?
There are companies that offer this type of service, such as Serasa Score, in which the customer can consult his score for free. On this site the customer can make a quick registration and check how his profile is as a consumer.
And how to increase my Credit Score?
There are a few ways to increase your score, but the main ones are clearing debts on your behalf and changing financial habits, such as paying bills on time and keeping your data up to date as much as possible.
For example, negative people may have a low score, as they have debts in their name and in this case they may have their request refused by several companies.
What to do if my Credit Score is high?
In case your Credit Score is above 700 points, this is good news and indicates that you are a good payer and pay your bills on time. That way, the chances of getting a loan, for example, can be high!
Finally, remember that the score is considered a financial “curriculum” with all the account histories you've ever made, so it's good to keep it impeccable.
