What is Credit Score?
Credit score is a note from 0 to 1000 that credit bureaus (Serasa, SPC, Boa Vista) give to you. This note indicates to banks and stores what the chance is of you paying your bills on time.
Score ranges
| Range | Score | Meaning |
|---|---|---|
| Very low | 0-300 | High risk of default |
| Low | 301-500 | Considerable risk |
| Good | 501-700 | Moderate risk |
| Very good | 701-1000 | Low risk, good payer |
What affects your score
Increases:
- Paying bills on time
- Having a long history of good payments
- Having accounts in your name (electricity, phone)
- Active Positive Registration
Decreases:
- Delaying payments
- Having a negative name (SPC/Serasa)
- Many credit inquiries in a short time
- Using too much of the credit card limit
How to improve your score
- Pay all bills on time (even small ones)
- Activate the Positive Registration on Serasa
- Negotiate and pay off open debts
- Avoid applying for credit in many places at the same time
- Keep registration data up to date
Why the score matters
With a high score you can get:
- Lower interest rates on financing
- Higher credit card limits
- Easier approval for rentals
- Better conditions on loans