Do you know your credit score and your financial health are closely related?
“The economy is hard! Items are expensive to purchase.”
“I now spend three times more on transportation to work than I did earlier this year!”
“I literally have no savings left from my monthly income!”
“I wish I could get access to quick credit to grow my business!”
If you’ve ever said any of these or know someone who did, then this article is perfectly for you.
A common way to stay afloat in unpleasant financial situations is to borrow from lenders; institutions that give loans or credit to people.
However, legit lending companies won’t give you access to funds if you have a bad credit score. A background check on you can easily reveal your financial health and habit to them.
A good way to get lenders throwing cash at you without thinking twice about it is by having a good score.
Your credit score relies on the details in your credit report, reflecting your financial history over time. These factors determine your score, and if it’s lower, it indicates a greater risk for lenders.
How CredPal’s Credit Builder Works
The CredPal Credit Builder is a tool that gives you the opportunity to do either of these three:
- Build your credit score if you have no credit history.
- Repair your credit score if you have a bad credit history.
- Improve your credit score if you have a fair credit history.
Build Your Credit Score:
If you have never taken a loan in the past or you credit or loan habit was not reported to a credit bureau, then you wouldn’t have a credit score or credit history as you are yet to prove to lenders that you can be consistent with making repayments as at when due.
With CredPal Credit Builder, it gives you the opportunity to build your credit score by being approved for credit after consistent savings over a 3 months period.
Repair Your Credit Score:
If you have ever defaulted on loans or frequently make late repayments, you credit score will most likely be bad. This is a red alert that immediately inform lenders to be wary of giving you credit or loans if you request from them.
With CredPal Credit Builder, you can begin to get access to loans again after repairing your score over a certain time period. This is important for your overall financial health.
Improve Your Credit Score:
If you have a score between 690 – 719, then you have a good score which can be improved to excellent. You can already prove to lenders easily that they can trust you with money and have a confidence that you will pay back in good time.
However, there’s still need to improve it so you wouldn’t have any worries about your financial health.
CredPal Credit Builder is the easiest way to build, repair and improve your credit score in order to be eligible for loans irrespective of the lending company you approach.