Your Fido Score reflects your financial habits and determines your access to better credit opportunities. To maintain a strong Fido Score, it’s important to understand the key factors that influence it and take steps to improve it.
Why Your Fido Score might reduce
Your score may be affected by several factors, including:
- Late or Missed Payments: Your payment history plays an important role in determining your Fido Score. Missing a payment or making late repayments can negatively impact your score.
- Inconsistent Payment History: Changes between paying on time and missing payments can reduce your Fido Score negatively.
- Defaulting on credit: Failing to make payments for an extended period, leading to credit default can reduce your Fido Score.
How to Improve Your Fido Score
Improving your Fido Score takes time and consistency. Here are some steps to help improve your score:
- Pay your credit obligations on time.
- Keep your account information up-to-date.
- Demonstrate responsible borrowing habits over time.
- Provide additional financial and personal information.
By taking these steps, you actively improve your creditworthiness, making it easier to access larger credit amounts and better financial opportunities with Fido.