Be guided and Stay updated!

It is common to get confused but it takes common sense to understand all aspects of lending and borrowing better. Get complete guidance and regular updates with regards to payday loans.
How to Build a Good Credit Score? ?>

How to Build a Good Credit Score?

You Want a Good Credit Score!

good credit score

Suppose you want to take out a loan to fulfill your daily business needs, for some emergency medical expenses or for other personal purposes, and to do that, you approach the bank. You provide details and submit the application, but the bank doesn’t approve your loan request. There is a high chance that it happened because of a bad credit score.

So why is a good credit score important? It helps the lender determine whether you, the borrower, can repay the loan on time or as per the agreed terms without any hassle. If yes, you can avail of a loan with ease.

How Important is a Good Credit Score?

A good credit score plays a critical role in helping you achieve your dreams. The better the credit score, the greater the chances you get the loan approved. Although it doesn’t ensure you will get the amount of loan you desire.

A credit score is a numerical number ascribed to you based on the information available in your credit report. A credit report is prepared by a relevant credit reporting agency based on the information collected from various sources, including banks and financial institutions and collating it with your credit history. Typically, a credit score is ascribed to an individual in the range of 300 to 850.

The credit score between 580 to 669 is considered fair, the ones between 670 to 739 are deemed suitable, the ones between 740 to 799 are considered very good, and those over 800 and above are accorded excellent status. So, if you have a good credit score, you are more trustworthy as a borrower, as per the credit rating agency, and are highly unlikely to default on your loan repayment.

What If You Don’t Have a Good Credit Score

As shown above if you have a credit score below 580, it means you have a bad credit score. A bad credit score means that you won’t be able to secure a loan from traditional lenders like banks. In that case, you can look for alternate options and still avail of loans. Many lenders can provide you with short-term cash advances or payday loans.

We at EZPaydayCash, as direct loan providers, can offer short-term loans to borrowers like you, even if you have a bad credit score.

How Can You Build a Good Credit Score?

You can build a good credit score from scratch if you like. However, it can take anywhere from one month to six months to one year, depending on the type of credit score you want to achieve in the long run. If you pay your bills on time and don’t stretch your available credit limits on the credit card, it can help build your good credit score. It would be best to be careful not to miss out on your loan or credit card installment. If you do, it will result in a downgrading of your credit score.

As such, building a good credit score depends on five different factors, namely: –

  • Payment history – 35%
  • Credit utilization – 30%
  • Credit history length – 15%
  • Credit mix – 10%
  • New credit – 10%

You can build a good credit score by doing the following things: –

    1. Use credit-building products

    Get yourself a credit-builder loan or a secured credit card to bulk up your credit history.

    2. Become an authorized user

    To become an authorized credit card user, getting in touch with someone with a good credit score can help. Getting recommended as an authorized user to credit bureaus or card issuers can help build your credit score.

    3. Learn how credit scoring works

    Know factors that help build your credit scores. Figure out what is within your power to build a good score.

    4. Keep the good work going

    It would be better to have a pretty good credit score backed by consistent on-time payments. Setbacks can occur, but take measures to rebuild your healthy credit score.

    5. Remove incorrect information

    Take measures to remove incorrect and harmful information from your credit reports; that is very unlike you to create a healthy credit report.

    6. Start using a secured credit card

    If you have a low credit score, use a secured credit card. It requires you to make an initial deposit to get a loan or credit. It helps boost your good credit score by generating a history of responsible use. Also, research better credit options to suit your financial needs.

    7. Prepare a payment report

    You can make regular payments on your loan or credit card payments. But opting for an alternative reporting service can boost your credit history.

Despite all your best efforts, if you still suffer from a bad credit score, the next best option is to apply for an online payday loan for up to $1000 from lenders like EZPaydayCash today.

Leave a Reply

Your email address will not be published. Required fields are marked *

Looking for Direct Payday Loans with Bad Credit?

*I have read and understand the Terms and Conditions & Privacy Policy of this loan.

Apply Now  

Applying Does NOT Affect Your Credit Score

Consumer Notice: A payday advance is a small, short-term loan intended to cover a borrower's expenses until the next payday. Payday advances are intended for short-term financial relief and do not constitute long-term financial solutions. Consumers facing debt and credit difficulties should seek out debt and credit advisory assistance. Consumers are encouraged to learn more about the risks involved with payday advances, local laws and regulations that may apply to payday advances, possible loan alternatives and recent developments in their state.

Legal Disclaimer: is a legitimate direct lender authorized to lend money to genuine borrowers where the interest rate, term and maximum amount that can be borrowed are solely decided by the company. Without authentic and verifiable information in the application, funding by no means is guaranteed. Upon requirement, the prospective borrower is expected to provide additional document/information- failing which would result in rejection of the loan application. While reviewing loan applications, we typically do not perform credit checks with the three major credit reporting bureaus (Equifax, Experian and TransUnion). However, soft credit checks or consumer reports through alternative providers such as Teletrack or DP Bureau, which typically will not affect your credit score, may be obtained in certain circumstances. You will not be charged any fees to use's service. Learn more by reading our Rates & Fees section. To change your communication preferences for this website or to submit a comment or question you can contact us.

Availability: Residents of some states may not be eligible for a payday advance based upon lender requirements. does not guarantee that completing an inquiry form will result in being offered a loan product with satisfactory terms or rates. It also worth noting that any loan request submitted on Friday after 6:00 PM EST will be processed on the next business day. For inquiries related to our services you may Email us at