How to Improve Your Credit Score

Credit Score



When your credit score is preventing you from getting an auto loan or credit card, don’t panic! If you are wondering how to get a better credit score, there are a couple of simple changes you can make to quickly boost your score. SJ Denham Chrysler Jeep Dodge Ram has compiled a list of tips for getting your credit score back to where you want it to be. How long does it take to build credit back up? It might take less time than you may think!

Tips to Increase Credit Score: Check Your Credit Reports

Did you know that if you have a low credit score there can be mistakes on your credit report, or you may be a victim of identity theft? If you are asking how to boost my credit score, or for ways to raise credit score, you should get a copy of your report from the three major credit bureaus: Experian, Equifax, and TransUnion. This way, you can compare the reports and check for accuracy. The Fair Credit Reporting Act entitles you one free copy a year that you can access at AnnualCreditReport.com.

Tips to Increase Credit Score: Minimize New Credit Applications

When you are constantly applying for credit, it can have a negative impact on your credit score. When lenders do a hard inquiry on your credit, it can have lasting effects for approximately a year.

Credit Improvement Tips: Assess Your Debts

To help you figure out what you currently owe, it is a good idea to create a list of your debts. What you owe can affect your credit score in the following ways:

  • Your debt to credit ratio: This ishow much available credit you have vs. how much you have actually charged. If possible, it is best to stay under 30% of your available balance.
  • The number of cards with balances: When you have several credit cards that have balances on them, it can decrease your credit score.

Tips to Increase Credit Score: Create a Payment Plan

Create a repayment plan to help gradually eliminate your debts. Your plan should look something like this:

  • Tackle debts in collections
  • Get rid of small balances on cards
  • Start paying down larger debts

Credit Improvement Tips: Build a Credit Age

It takes time to build up your credit and one way to start doing so is to become a user on a family member’s account. If they are making their payments on time, it can benefit you. Before making this type of arrangement, be sure each party understands who is responsible for what expenses.

Tips to Increase Credit Score: Open a Credit Card

One reason you may have a low credit score is that you simply have yet to establish credit. Opening a card in Redbluff is a good way to start building credit. However, keep in mind that you will need to make your payments on time and stay under the 30% balance.

One way to use a credit card to enhance your score is to select a recurring monthly charge and use your credit card to pay off that amount. Remember to keep money set aside to pay that debt.

If your credit does not allow you to open a traditional credit card, a secured credit card could be another option. Secured credit cards typically require an initial deposit and come with a low limit.

Learn More About Financing with SJ Denham Chrysler Jeep Dodge Ram

If you would like more tips to increase credit score or you have questions about the car financing process, do not hesitate to reach out to SJ Denham Chrysler Jeep Dodge Ram. We would be glad to help you secure an affordable loan as well as discuss your financing options, like whether it is best to lease or buy.

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603 South Mount Shasta Blvd • Mount Shasta, CA 96067

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SJ Denham Chrysler Jeep Dodge Ram

603 South Mount Shasta Blvd Mount Shasta, CA

Phone: 530-926-4817

http://maps.google.com/?q=603%20South%20Mount%20Shasta%20Blvd%2C%20Mount%20Shasta%2C%20CA%2096067

Parts

Phone: 530-926-4817

603 South Mount Shasta Blvd Mount Shasta, CA

Sales

Phone: 530-926-4817

603 South Mount Shasta Blvd Mount Shasta, CA

Service

Phone: 530-926-4817

603 South Mount Shasta Blvd Mount Shasta, CA
41.3088008 -122.3112846
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SJ Denham Chrysler Jeep Dodge Ram
SJ Denham Chrysler Jeep Dodge Ram
603 South Mount Shasta Blvd
Mount Shasta, CA, 96067 US
530-926-4817
https://di-uploads-development.dealerinspire.com/sjdenhamcjdr/uploads/2018/03/SJDenhamCDJROGImage.png
SJ Denham Chrysler Jeep Dodge Ram 41.3088008, -122.3112846.