A good credit score can help you qualify for larger loans with better interest rates. Here’s how to boost your creditworthiness in Kenya:

1. Always Pay Loans on Time

Late or missed payments negatively affect your credit score. Even repaying a few days late can result in penalties and a lower score.

2. Borrow Responsibly

Only take a loan when necessary. Multiple loans at once can make repayment difficult and reduce your credit rating.

3. Monitor Your CRB Status

Check your Credit Reference Bureau (CRB) report regularly. If you’re listed negatively, clear your debts and request an update from the CRB.

4. Maintain a Good Debt-to-Income Ratio

Don’t let loans take up too much of your monthly income. A healthy balance shows lenders you can manage debt responsibly.

5. Build a Positive Credit History

Start with small loans, repay them on time, and gradually increase your borrowing limit. This helps you build a strong credit profile over time.

With MavoLoan, responsible borrowing helps you access bigger loans in the future!