How Using Netflix Can Improve Your Credit Score - Wales Online

How using Netflix can improve your credit score

A simple hack with just three steps could help you get finance, loans and even a mortgage

NewsNeil Shaw Assistant Editor10:26, 27 Sep 2021This article contains affiliate links, we will receive a commission on any sales we generate from it. Learn more

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In just three savvy steps, the 27.1 million UK households currently subscribing to streaming services could improve their credit scores, according to finance experts.

Subscriptions are one of the easiest ways to build a history of on-time credit payments.

Sticking to three simple steps can steadily improve your credit score and make it easier to get loans or mortgages if you ever need them.

There’s no extra cost as long as you pay on time. It’s a really easy way to improve your credit score, or even build it from scratch if you’re just starting out.

Three simple steps to a better credit score

• Go to settings on your Netflix account (or any other subscription service) and add your credit card as the payment method.
• Go to your credit card account and add select to pay the balance in full by direct debit from your bank account.
• This is the critical one: make sure you always have enough money in your account to make the payments. Be aware of any cost increases from the service you’re using.

Having any small purchase on your card every month, paid off in full and on time builds a consistent payment history? This means that over time your credit score will go up.

Use this hack for any of your streaming services or regular monthly outgoings – whether it’s Netflix, Spotify, Disney+ or Sky.

But beware, make sure to pay your credit card in full every month to avoid paying any interest or building up credit card debt.

A spokesman for Norton Finance said: “Making a small regular monthly payment on a credit card and paying it off in full, routinely keeps the account active and helps you build good credit habits. Over time, this shrewd yet simple habit can strengthen your credit score.”

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