Here’s how slice can help you build or improve your credit score:
- Timely repayments - slice reports your repayment details to the bureaus. Making timely payments has the biggest positive impact on your credit score
- Credit utilization - slice reports your outstanding dues and your highest purchase power (estimated when you have no dues) to the bureaus. Having a medium credit utilization, generally under 40% positively impacts your credit score
- Delinquency account - When a user is late or defaulted on their repayments, this information is also shared by slice with the credit bureaus. This negatively impacts your credit score. Hence, you should always repay on time to improve your credit score
In summary, responsibly using slice borrow and making regular timely repayments is the best way to boost your credit score!