What should I avoid when trying to improve my credit score?

  1. Missing a payment: Regularly missing payments may lower your credit score.

 

  1. Applying for too many credit cards or loans at once: This may indicate that you are just shopping around, but it can also indicate that you are desperate for funds or taking on too much debt.

 

  1. Co-signing a loan: If the person you have co-signed the loan with defaults on their repayments, your credit score could be affected.

 

  1. Using up your credit limits: If your credit limit is RM10,000, it’s a good idea not to exceed RM3,000 in usage. This keeps your credit utilisation ratio at a healthy level.
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