At Joe Morgan Honda, our goal is to find you the car you need at a price that fits your budget. Even if past financial trouble has damaged your credit score, we’ll work with you on a payment plan with the lowest possible interest rates. You can get even better rates by raising your credit score before you apply. A “how to boost my credit score” plan will look different for every car-buyer. In the guide below from Joe Morgan Honda, you’ll learn how to get a better credit score before you apply for financing in Cincinnati!
Knowing how to get a better credit score begins with knowing the score. If you haven’t checked your score in the last few months, do so ASAP. Credit scores can fluctuate for many reasons, from identity theft to forgotten past-due debts. A quick check through a major credit bureau won’t impact your credit score, and many banks offer their customers complimentary credit checks.
Next, figure out how each of your debts is impacting your score. One of the fastest ways to raise a credit score is to find out what is dragging your score down the most, and tackle those issues first. List your debts and pay attention to the following factors:
Now that you’re familiar with your debt, you need a clear plan for how to get a better credit score. That’s where a “how to boost my credit score” payment plan comes in! You already know what’s holding your credit score down the most, so write up a plan that tackles those issues first.
One of the easiest ways to raise a credit score is simply by using your credit cards regularly. Credit cards are great for your credit score under two conditions: you use them regularly, and the debt-to-credit ratio is under 30%. Even with a low debt-to-credit ratio, an account that sits unused can actually be bad for your score. Close any unused accounts, or start using them regularly. One way to do this is to set up autopay to the credit card on a routine purchase, and then an automatic payment to the credit account.
If you found these tips to increase your credit score helpful, be sure to contact our knowledgeable team for more car-buying expertise! Whether you want to calculate monthly payments for various Honda models, or value your trade-in, we’re here to help. Explore more helpful car-buying tip such as what credit score is needed to finance a car and more. Contact us today to learn more! You can even check out more helpful tips such as how to trade-in a car that you still owe on.