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Are you (yet) watching? This Netflix trick will help you increase your credit score.

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Can watching a movie improve your credit score? In fact, as easy as making regular payments using a credit card can help you build a payment story. Today, over 27 million UK households subscribe to at least one streaming service. All of these households can use it to improve their credit score. Method is as follows.

How to Make Payments to Improve Your Credit Score

According to an independent loan company Norton Finance, “By making a small monthly recurring payment with your credit card and paying the full amount on a regular basis, you can keep your account active and develop good credit habits. Over time, this wise A simple but simple habit can enhance your credit score. ”

And an easy way to do this is to use your card to make monthly Netflix payments. Do you have Netflix? Disney + or Spotify payments also work.

The key to making this piece is to add you credit card To your account as the default payment method. Your subscription fee will be charged to your card each month, which will provide you with simple proof of on-time payments to help you improve your credit score.

Note that bounced payments have the opposite effect. So be careful with your bank account or credit card so it never happens.

What else can you do to improve your credit score?

If your credit score can use more help, there are other things you can do to improve your financial position.

Take a closer look at your payment history

according to Investopedia, Payment history is the most important factor in credit score evaluation. This means that debt and invoices paid on time will work in your favor. The opposite happens when you miss a payment or neglect your financial obligations.

If you have difficulty keeping up with your monthly payments, automate as many payments as you can. Alternatively, set a due date alert to know in advance that you need to pay your invoice.

Keep credit utilization low

yours Credit usage rate The amount of credit you are currently using. The ideal percentage is 30%. For example, if you have a credit with a limit of £ 10,000, ideally you shouldn’t spend more than £ 3,000. If your current balance is well above 30% of the available credits, consider debt repayment as a way to improve your credit score.

Catch up if payment is delayed

Late payments will remain in your credit report for years. There’s not much you can do about payments that are already there. However, paying off these debts can prevent new late payments from being added, especially for ongoing accounts and subscriptions.

If you don’t need it, don’t ask for more credit

Applying for a new loan or raising your credit card limit can adversely affect your credit score. This is especially true if you are building many applications in a short period of time. If you are trying to improve your credit score quickly, take a break from your credit application.

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Are you (yet) watching? This Netflix trick will help you increase your credit score.

https://www.fool.co.uk/personal-finance/are-you-still-watching-this-netflix-trick-can-help-boost-your-credit-score/ Are you (yet) watching? This Netflix trick will help you increase your credit score.

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