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How Can You Improve Your Credit Score?

Blog Aug 08th, 2023
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5 Tips for Improving Your Credit Score

There are many things that you can do to improve your credit score and if you’re looking to do so, you’re in the right place. With help from Autohouse Kingston, you’ll soon be on your way to a higher credit score. With a higher credit score, you’ll be more likely to get pre-approved for a car loan. Keep reading to learn more about the top five tips for improving your credit score, so you can get behind the wheel of the vehicle you want to buy.

 

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Top 5 Tips That Will Help Improve Your Credit Score

  1. Review All Your Credit Reports. Increasing your credit score will take time and patience and the first thing you’ll want to do is review all your credit reports. With this as the first step, you’ll be able to see if there are any mistakes on your credit report. If there are mistakes, have them corrected immediately.
  2. Make Payments on Time. Your payment history is an important part of your credit score and if you make late payments, it will lower your credit score. In order to help increase your credit score, be sure to always pay your bills on time.
  3. Limit How Many New Lines of Credit You Open. In order to keep your credit from dropping, limit the number of new lines of credit you open. Doing so will help improve your credit. 
  4. Keep Your Credit Utilization Rate Low. Keeping your credit utilization rate low (below 30%) will help you improve your credit score. An easy way to do this is to ask your credit card company to increase your credit limit.
  5. Don’t Close Old Accounts. Keeping your old accounts open that have been totally paid off will help maintain your credit history which in turn will help improve your credit score.

With these five tips for improving your credit score, you’ll now have the knowledge and know-how you need to improve your score. If you have any questions or would like to apply for a used car loan at Autohouse Kingston, please contact us, today, and we’ll be happy to help you.

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