Have you every asked yourself, how do I improve my credit score? Like it or not, credit scores are important when you're trying to purchase a vehicle, whether new or used. Some people think they have little ability to affect their credit score, especially if they are new to credit, or if they have 'messed up' their credit in the past. But there are opportunities, and they are simple.
Oklahoma City, to improve your credit score, you can do many things, but you should start by paying you bills on time. This is the most simplistic opportunity to make your credit score steadily increase. Lenders just want to see that you can give them their money back, on time, without too many hassles.
The second thing you can do is eliminate your outstanding credit card debt. This is a more difficult opportunity, but an opportunity none the less. When you start eliminating that debt, your credit score can do nothing but go up.
Credit companies rate your trustworthiness base on experience, so keep your old credit lines. The longer you have a credit card with low debt and on time payments, the more trustworthy you are to lenders.
Applying for credit affects your credit. When a potential lender checks your credit score to see if and or how much they are willing to lend you, your credit takes a hit. With this in mind, only apply at a car dealership you are extremely interested in buying from.
Lastly, one of the key measurements to credit success is a 30 percent credit to debt ratio. Always aim to keep your credit availability high and your debt low.
Over time, these credit opportunities can turn in to credit skills, leaving you with an excellent credit score with which you can get the car you want at the interest rate that's best for you. Improving your credit score isn't hard, it just takes time.
As always, Edmond Hyundai has the best selection of new Hyundai and used vehicle inventory in the OKC Metro Area. If you have mastered these skills and are ready to see what car, truck or SUV works for you, we would love to help you. Give us a call of come visit us.