BEYOND THE CART: ALTMALL’S IMPACT ON YOUR CREDIT SCORE

Gone are the days when traditional financial institutions held the sole key to building your credit score. Today, alternative financing pathways like Altmall's "Buy Now, Pay Later" (BNPL) option are offering convenient access to credit, potentially impacting your credit score in new ways. Altmall's? financing options will allow you to seek out your shopping indulgences while creating a positive ripple effect on your financial standing.

Altmall allows you to purchase items and split the cost into manageable instalments without upfront costs or interests. This makes it an attractive option for individuals seeking financial flexibility, particularly for larger purchases or unexpected expenses. Altmall also reports your payment history to credit bureaus, which means your responsible repayment behaviour can positively impact your credit score, while missed payments could have negative consequences.

Altmall’s impact on credit scores extends beyond mere transactions. Each purchase becomes a building block for a healthier credit profile. Users have the opportunity to demonstrate regular & timely payments, diversify their credit portfolio, and build a solid credit history through responsible financing, which are crucial elements on the path towards financial well-being.

Altmall helps you build your credit score through:

• Timely Payments: The most significant factor influencing your credit score with Altmall is making your payments on time and in full. Consistent on-time payments demonstrate your creditworthiness and can gradually improve your score.
• Credit Utilisation: According to Investopedia, your credit utilisation ratio is the percentage of credit currently being used compared to the total credit available to you. Altmall tracks your credit utilisation ratio, which compares your outstanding balance to your credit limit. The general rule of thumb is that a healthy credit score keeps a low ratio, ideally below 30% and shows responsible credit management.?

Also, the Altmall advantage is a win-win proposition and not a one-sided affair. While users gain access to the latest and affordable items without the immediate financial strain, Altmall benefits from a loyal customer base committed to responsible financial practices. This symbiotic relationship creates a mutual proposition that transcends traditional retail dynamics.

Used responsibly, Altmall can be a valuable tool for building a healthy credit score and improving your financial standing. However, it's crucial to understand the potential impact on your credit and manage your BNPL usage wisely. Remember to stick to your budget and avoid overspending that could strain your finances and negatively impact your credit score or worse, cause you to miss payments.

Visit altmall.ng to shop a wide range of items at affordable prices and improve your credit score.