Managing your Credit Score

Tips on Creating and Growing your Credit Score

How your credit is managed can either positively or negatively affect your personal and business life. Most business loan lenders do a credit check on your personal profile too, before deciding on whether to lend you or not. A bad credit record can even prevent you from securing a career role, which in turn affects your income and cashflow. 

The following are a list of tips in helping you manage your credit in your favour.

Payment date – Always pay before the due date expected, not the day after. The reason for this is because payments don’t always reflect the same time on the credit provider’s system. Even if they do, their accounts department may not update these immediately. So, when the due date is on the 7th, pay days before time if you can. By the time the credit bureau system is updated, you have already paid.

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