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Anonymous
Bad Credit Score?
I have been using 2 credit cards since 2020 and these are my 1st credit cards. I recently checked my credit score and was shock to see it in the bottom tiers. Anyone knows why? I pay all bills on time. Does adjustment of credit limit affect the credit score? What about credit instalments (e.g 3 months)? Also, is it advisable to put a limit on your credit card e.g. $3,000 and spend close to the limit? Does this affect the credit score as well?
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Did you pay the full outstanding credit card bill monthly, or just the minimum required?
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- Check if you have other loans (personal bank loan/housing loan/study) that were not fully repaid a...
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Try asking for a higher credit limit. Part of the credit score is determined by credit utilisation (ie how much of your limit you're using) - so a higher credit limit will bring down utilisation (which shows you are not overextending yourself and spending beyond your means).