Here’s how slice can help you improve your credit score:
Timely repayments - slice reports the repayment details of users. Making timely payments has a positive effect on your credit score.
Credit utilization - Credit utilization is a measure of how much of your highest purchase power is being used regularly. It is the ratio of your outstanding dues and highest purchase power estimated when you have no dues. Having a medium credit utilization, generally < 40%, positively impacts your credit score.
Delinquency account - When a user is late or has defaulted on their repayment, this information is also shared by slice to credit bureaus. Unfortunately, this negatively impacts your credit score. Hence, users must try to repay on time.
In summary, regularly using your slice account and making regular timely repayments is the best way to boost your credit score!