The credit score is a numeral between 350 and 800, which indicates your borrowing status or repayment capability if you are applying for a loan. The higher the credit score, the easier it is to get a loan approved by a financial institution. However, unlike credit card bills, you do not get regular reminders about your credit scores on emails. And it can be easy to let your score slide if you are not careful about timely EMI payments. So, just go through these apps to improve a bad credit score and become more credit-worthy for future loans.
Credit Karma is one of the most convenient apps to help you improve a bad credit score. It tracks your credit score from two important credit bureaus (TransUnion and Equifax). It provides instant alerts whenever there is a noticeable dip in credit ratings due to missed card payments or non-payment of EMIs. Besides, users also receive weekly updates and crucial tips for increasing the credit score. There is another helpful feature in this app, Approval Odds, which lets you know about the loans which you can conveniently get approved by banks. This useful app works on both Apple and Android devices.
Credit Sesame is another popular app among borrowers. This app monitors your credit score through the TransUnion credit bureau and alerts you about your account’s suspicious activities. One of the unique features of Credit Sesame is, users, get $50,000 as the identity theft insurance. This helpful feature is even available with the free version. So, now, you do not need to worry about breach of data while working with Credit Sesame. Similar to all other favorite credit monitoring apps, this service works well on Apple as well as Android platforms.
Mint is one of the most useful apps to improve a bad credit score if you work on a tight budget. It not only offers you updates about your credit score, but also designs your monthly budget. If users link credit card payments with the Mint app, then it can segregate your expenses under different categories, like utility bills payment, grocery expenses, and fuel expenses. It provides you with an insight into monthly spending too and prevents excessive expenses in any category. Moreover, if you exceed the designated budget, then the app will alert you instantly. In this way, you will never miss credit card payments or EMIs, and your credit score will improve systematically.
Debt Payoff Planner
The Debt Payoff Planner is an excellent app for those carrying several debts. It helps develop a get-out-of-debt strategy through the “Debt Avalanche” and “Debt Snowball” methods. In the former, borrowers pay off loans having the highest rate of interest, and in the latter, they clear the loans with the smallest balance. These strategies help in improving the credit score in the long run.
So, trust these tried and tested apps to improve a bad credit score and get loans easily in the future.