Credit score score conversion, 3 tips on how to raise your credit score
<Credit rating score table conversion, how to raise credit score>
Credit rating and credit score are very closely related to our lives. A high credit score and credit rating is because, after all, I pay a low interest rate when I run a loan. If you have a lot of cash, you won’t have much trouble with a loan, but for most people, your credit score and credit rating are bound to be sensitive. Credit ratings have become meaningless since they were changed to the current credit score system, but many people are still using credit score conversion tables because they are accustomed to credit ratings. Check out the conversion table below and, if possible, learn more about how to improve your credit score.
index
Credit Rating Credit Score Conversion Table
Tip 1 to improve your credit score
Tip 2 to improve your credit score
Tip 3 to improve your credit score
conclusion
Reference
One.
Credit Rating Credit Score Conversion Table 신용등급 점수
<Credit Score Conversion Table> 좋은뉴스
As of January 21, the credit rating system disappeared and the credit score system was operated, causing confusion among many people, but it seems that the indicator that objectively confirms where you are is ultimately your credit rating. Credit score and credit rating are very important concepts because important things such as interest rates are determined and evaluated according to the credit rating. Credit score is also an important criterion for issuing a credit card. Currently, when the old credit rating system is substituted into the current credit scoring system as above, it can be evaluated in the same way as above. If you look at this score and don’t like your score, get a tip to raise your credit score below and apply it.
2.
How to improve your credit score Tip 1
Close unused credit cards and use credit cards appropriately
<Cancele unused credit cards and increase the limit to the maximum>
Credit rating agencies that evaluate credit scores recognize the total limit of credit card holdings as a liability in their evaluation criteria. This is because even if you have a loan, you may have debt depending on the use of your credit card. In other words, since it is assumed that when a credit card is issued, one negative bankbook is created, there is room for an increase in the credit score by canceling the unused credit card.
If your current salary situation and performance are at the same level as the credit card limit, it is also a way to check whether the card can be operated at a minimum. is not given. However, if you get multiple credit cards issued within 3-6 months, there is a possibility that it will eventually affect your credit score.
On average, spending about 300,000 won per month without delinquency on a credit card is a requirement for an additional credit score. In the meantime, if you don’t use a credit card or use it less, and you use more than 300,000 won for about 3 months, there is a possibility of getting an additional credit score. Also, using a debit card can help raise your credit score. You can receive 4 to 40 additional points even if you continuously use the debit card for 6 to 12 months of KRW 300,000 per month.
That said, if you do not use the credit card itself and your income and performance are low, this can also be a problem in improving your credit score. If you use your credit cards appropriately relative to your income, you are more likely to improve your credit score. In fact, I did not use my credit card performance compared to my income, but when I used more than 300,000 to 500,000 won, my credit score rose. After all, using your credit card appropriately is one way to improve your credit score.
3.
How to improve your credit score Tip 2
Do not overdue credit card loans/cash advances and utility bills
As mentioned earlier, credit rating agencies treat credit cards as a form of debt. In the meantime, if you use a card loan or cash advance, it can affect your credit score. If you have used the service today, please stop tomorrow. Any use of cash advances will remain on record. Using the service is interpreted as meaning that there is no cash in the end, and card loans and cash advances are worse than loans. Since card companies are low-grade institutional finance in the financial sector, not using them helps maintain your credit score.
One of the ways to increase your credit score in the short term is to submit to a credit information company the performance of paying telecommunication fees, national pension, health insurance fees, city gas, water fees, national taxes, and local taxes for more than six months. By submitting it, you can receive 5 to 17 points. In addition, if you faithfully pay for a long period of 6 to 24 months as a sincere payment period, the range of additional points will be expanded or the period for receiving additional points will be extended. There is a way to easily submit the documents to a credit rating agency by verifying my information on mobile in places such as Kakao Pay, so please refer to the application.
4.
How to improve your credit score Tip 3
Focus on repaying your loan rather than increasing your small deposit/installment savings
Rather than increasing small deposits and savings, it is difficult to raise your credit score just by having a loan. In the end, loans are an important evaluation target that holds a lot of ankles in increasing credit scores.
That’s why just paying off your loan can improve your credit score. However, having a loan does not mean you are at a disadvantage. If you take out a loan and repay interest and principal on a set date, there is no penalty to your credit score.
In addition, 5 to 13 additional points are given to credit ratings when loans are received for microfinance products such as Sunshine Loan and Smile Finance and faithfully repaid within 1 year without overdue or 50% of the loan principal is repaid. However, if you have overdue or overdue experience or two or more financial debts, you may be excluded from added points or the width of added points may be reduced. Also, if you pay off other loans you have, your credit score will go up.
In the end, no matter how many deposits/savings you have, if you have loans, it will be difficult to increase your credit score. Then, rather than making deposits/savings, getting rid of small loans without prepayment fees will help improve your credit score.
5.
conclusion
Credit score management is ultimately influenced by effort. Depending on how much you are interested, you will manage it in detail, and you will be able to increase your credit score higher than others. In the end, the way to raise your credit score is to use a lot of financial transactions. This is because credit score evaluation factors are ultimately evaluation details based on financial transaction performance. The surest way is to increase your credit score just by properly paying utility bills and carrier bills for a long period of time. And never overdue credit card bills. If you keep these basic things, you won’t have a big problem raising your credit score.