Free
In Nigeria V1.0.1.2
5.0 (1 million +)
Security Status
in Nigeria
in Nigeria
Free
In Nigeria V1.0.1.2
5.0 (1 million +)
Security Status
LairaPlus is a popular credit loan app in Nigeria that provides users with quick and convenient access to financial assistance. One important aspect of using this app effectively is having a good credit score. A higher credit score not only increases your chances of loan approval but also improves your overall financial health. In this article, we will discuss six effective strategies to enhance your credit score on the LairaPlus credit loan app.
One of the most significant factors impacting your credit score is your payment history. Late payments or defaults can severely damage your creditworthiness. To improve your credit score, ensure that you pay all your bills, including utility bills, credit card bills, and existing loans, on time. LairaPlus provides reminders and notifications to help you stay on track with your payments.
Your debt-to-income ratio compares your monthly debt payments to your monthly income. A lower ratio indicates a healthier financial position. To reduce your debt-to-income ratio, consider paying off existing debts or loans. Additionally, avoid taking on unnecessary new debts that could increase your monthly obligations.
Free
In Nigeria V1.0.1.2
5.0 (1 million +)
Security Status
for Android
Credit utilization refers to the amount of credit you are currently using compared to your total available credit limit. To improve your credit score, aim to keep your credit utilization below 30%. If your credit card balances are high, try to pay them down or request a credit limit increase. Regularly monitoring your credit utilization can help you stay within a healthy range.
Having a mix of different types of credit accounts can positively impact your credit score. LairaPlus encourages users to have a diversified credit portfolio by offering various loan products. Consider including a mix of credit cards, personal loans, and other types of credit in your financial profile. However, be cautious not to take on more credit than you can handle.
Your credit report provides a summary of your credit history and is used to calculate your credit score. It is essential to review your credit report regularly to identify any errors or discrepancies that could be negatively affecting your credit score. If you find any inaccuracies, contact the credit bureau to request corrections.
While it may be tempting to apply for multiple loans at once, doing so can harm your credit score. Each loan application triggers a hard inquiry on your credit report, which temporarily lowers your score. Instead, focus on applying for loans only when necessary and make sure you meet the eligibility criteria before submitting an application.
Improving your credit score on the LairaPlus credit loan app in Nigeria is crucial for accessing better loan terms and improving your overall financial well-being. By following these strategies, such as paying bills on time, reducing your debt-to-income ratio, monitoring your credit utilization, maintaining a diversified credit portfolio, checking your credit report regularly, and avoiding multiple loan applications, you can enhance your creditworthiness and enjoy the benefits of a higher credit score. Remember, building good credit takes time and consistent effort, but the rewards are worth it in the long run.
Free
In Nigeria V1.0.1.2
5.0 (1 million +)
Security Status
in Nigeria
in Nigeria
Free
In Nigeria V1.0.1.2
5.0 (1 million +)
Security Status
LairaPlus is one of the best loan apps in Nigeria with low interest.
Contact：+2349053621749
Contact：+234 704 247 5161
MAIN BUSINESS
APPLY FOR LOAN
SERVICE SUPPORT
