Dude, what’s your credit score?

If you’ve made all the right moves, you score! Right? Not too different in your financial life!

Having a good credit score opens up many opportunities. Knowing what lenders see as risky behavior can enable you, the borrower, to make all the right moves!

Take a look at these personal financial ratios that impact your credit score:

1. A clean, on-time repayment history will improve your score by up to 35%
2. Lower outstanding credit can improve your score by up to 30%
3. The longer you are in the credit system, the better the chances of improving your score, up to 15%
4. If you’ve made enquiries for new credit cards or new loans, it can negatively impact the credit score by up to 10%
5. If you have only unsecured loans such as personal loans and credit cards, then it is going to affect your credit score by up to 10%.

Most banks prefer to lend to customers with a CIBIL score of 750 and above. Review your financial footprints and get ready to score well.