Tips for increasing yourcredit loan so you get preferential interest rates!

Customers often ask, "Why do I do the same loan, but my interest rate is higher than others?" Actually, the problem lies in your "credit score"! The most important thing in applying for a credit loan is the credit score. The credit score can reflect the borrower's financial situation, and it is also a strong evidence of the bank's ability to assess repayment. A high credit score can also increase the loan amount, and of course it can also reduce interest rates, allowing you to obtain the required amount at a preferential interest rate. So what do you need to do to improve your credit score?

1. Make a credit card and use it properly
The threshold for reviewing a credit card application is low, and the procedures are simple. It is the easiest way to cultivate credit. This is not to encourage consumption, but to change the payment method to cultivate a credit history. As long as it is paid within six months to one year and paid in full on a monthly basis, do not use "recurring interest" and control the usage limit to not exceed 50% of the credit limit (Note: Including the total amount of credit card installment outstanding) , You can add points to credit.

Second, pay off the debts on time
If the debt has been formed, at least payment must be made on time to maintain normal credit. If you have sufficient funds on hand, it is advisable to repay the higher interest debt first to reduce the total debt. For example, when receiving year-end bonuses, high-interest-rate personal credit such as credit card revolving interest can be repaid preferentially to avoid worsening debts over time.

Third, do not easily disable credit cards
Although the effect of card cutting on credit scores is small, credit cards can check the length of the user's credit. Therefore, long card holding time can add credit to the credit. Therefore, the longest-used credit card should be retained to maintain the credit length. It is recommended that if you want to cut the card, you should give priority to the most recently applied credit card.

Cultivating credit is actually like getting along with each other. It also takes time and performance to slowly build trust. There is no secret to one step. You should have the correct concept of financial management and debt management, keep in mind the importance of maintaining credit, and you can get good results at critical moments that rely on credit scores to obtain low interest rate and low monthly payment loan schemes from banks to improve financial problems. If you have doubts about your credit score or want to use your own credit terms to obtain a personal credit loan plan, welcome to consult for free.