How to maintain a good credit score and why is it important?

What do you feel like doing this New Year’s? Plan to soak up the sun at an island or spend it at an amusement park with your family? It would be amazing to be able to indulge in whatever you want, whenever you want to, without worrying about cash crunch, and that’s what Simpl strives to do for you.

To be able to avail a credit, it’s important to have a good credit score. A good credit scores helps you avail certain rewards, and it also shows how reliable you are and predicts the likelihood of you paying your credit on time in the future based on how you’ve managed any credit in the past.

The best way to improve credit score is to repay loans/credit on time. Here are a couple of things you can do to improve your credit report:

1. Pay your bills on time
2. Keep your credit card balances low
3. Don’t settle old credit cards
4. Manage your debt
5. Limit your applications for new credit
6. Check your credit report.

That’s why we encourage our customers to repay the due amount timely. Why is it so important to clear the due amount on Simpl timely? Here’s what you can avail with timely due payments:

• Get access to higher spending limit
• Unlock more merchants
• Regular and timely repayments helps in unlocking offers/benefits
• Guaranteed buyer protection

So, repay your bills on time, maintain a good credit score, and unlock amazing benefits 🙂