Wondering what a credit score is? We will tell you what it is. It is probably the only score which, if good, will help you in life. Mostly, your financial life.
But what is a credit score?
It is basically an analysis of all your accounts, credit cards, loans, and your repayment history. Based on this analysis you get a score ranging between 300-900. The closer you are to 900 the better chances are that you get loans, credit cards from banks easily.
But if you have never used a credit card or taken a loan, it is very unlikely to get a credit card or loan from a bank. So how would you build your credit score? Well, this is where the slice card comes into the picture
How to improve a credit score?
5 Simple Steps to build a credit score for students/professionals over the age of 18:
1) Get a slice account. You can apply<link> for slice account if you are over 18 years of age and get a credit limit of up to Rs. 1 Lakh
2) Get a slice card once your slice account is active. slice card can also be owned by any person who is over 18 years of age. slice card is better than other credit cards as it has zero annual fees, spend over the month anywhere and repay later at no extra cost.
3) Use slice credit through slice card, No cost EMI vouchers of Amazon, Flipkart, Myntra, MakeMyTrip and more and repay on time.
4) Get an increase in your credit limit. How to do that? Just use the slice credit wisely and repay on time each month to get a higher credit limit. This also helps in improving credit score
5) Repeat Number 3 and 4.
5 Reasons why you need to have a improve your credit score:
1) Get easy loan and credit card approvals at lower interest rates.
2) Get better offers on car insurance
3) You may sometimes get to avoid high deposits while getting an apartment on rent
4) Get approved for a higher limit. A perk that you see with slice card as well. The more you use the slice card the more credit limit you get as alongside your credit score also improves.
5) You can always show off with a good credit score, right?
Ready to improve your credit score? Apply now
Know more about slice card and No Cost EMI with slice