StepUp - Why hasn't my credit score improved?

StepUp boosts your credit score by reporting your payments to TransUnion, Experian, and Equifax every month. A good credit score gives you better financial options. The credit agencies take 6 to 8 weeks to update your credit file with the information we provide.

Did your credit score not improve after 12 months of being a member of SteadyPay StepUp?

The credit score is often misunderstood. Let us help you understand how it works and what affects it. Your credit score provides insight into how lenders view you, making it useful when applying for credit.

Here are some key factors you need to remember about what affects your credit score:

• Building up your credit score takes time (you need to show good habits over a long period of time);

• Your debt balances are high;

• You have a limited credit history;

• You have missed payments;

• You have opened a high amount of accounts or submitted to many credit applications;

More detailed information can be found on each credit agency's website; for your convenience, you can see Experian here.