If you need to advance or sustain your credit score, taking out a PayDay Loan is a feasible way to do so. Building up a sterling credit score is an insightful investment in your future, as there may come a day when you need a home loan or vehicle finance – and having an impeccable credit score will be your ticket to procuring these essential assets.
What’s more, an impressive credit score will give you access to better interest rates on any subsequent loans you may wish to take out. It may even determine how much you’ll be charged for car insurance premiums and interest rates.
If you’ve banged your head against the ‘overshot budget’ wall again and have a mortgage or car finance instalment due day coming up, a PayDay Loan is your credit score’s cash advance in shining armour.
You see, all good things come in threes and so do the healthy components of your credit score, as it would just so happen – which are as follows:
- Punctual payments. “The dog ate my wallet” is just not going to cut it with respect to late, skipped or partial payments. Each missed instalment has a Thor’s hammer-like impact on your credit score. Timeliness is next to godliness, when it comes to the art of credit score maintenance. After you’ve fallen into arrears for 30 days or more, the credit bureaus will drop your credit score like it’s hot. It won’t be pretty.
- Minimal debt. Don’t go borrowing willy-nilly. Three words – credit score suicide! On the other hand, a PayDay Loan can soup up your credit score, if used to settle your credit card debt. Even so, going on a credit application bender because you’re a more-is-more plastic fiend is much like taking a chainsaw to your credit score. Tip! Keep your statement balance under 20% of your credit limit.
- Long-standing credit history. That’s right, for once, being old is a plus! The further back your credit history stretches, the better shape your credit score will be in. Tip! Stay credit active every month to keep your credit score fighting fit.
Apply for a PayDay Loan by filling in our basic online contact form 🙂