How to Get a Better Credit Score

If your current credit score isn’t the best, it can directly affect your purchases around Oceanside. Whether buying a new or pre-owned vehicle, you might be looking for ways to raise your credit score. 

Below, Quality Chevrolet goes into greater detail about tips to increase your credit score. Wondering, “How to boost my credit score?” Read this overview. Learn more and call (760) 871-4005 to speak to one of our finance staff members.

How to Boost My Credit Score

When looking at tips to increase your credit score, many Poway drivers often aren’t sure where to go. Below, we go over the best ways to raise your credit score.

Check Your Credit Reports

Outside of an issue like identity theft, some credit reports have mistakes that can negatively impact your credit score. So, when someone asks us how to get a better credit score, we often tell them to get the most accurate report. You can purchase one from all three major credit bureaus: Experian, Equifax, and TransUnion. 

The Fair Credit Reporting Act also entitles you to one free copy a year that can be accessed at AnnualCreditReport.com. Reviewing your credit reports can determine if any oversights are affecting your score.

Assess Your Debts

When looking for ways to raise your credit score, one major aspect is reviewing outstanding debts. Two major factors that can directly impact your credit score are the following:

• Your Debt to Credit Ratio: This is how much available credit you have vs. how much you have charged. You want to keep your credit card charges under 30% of your available balance per month.
• Number of Cards With Balances: The more cards with balances you have, the lower your score.

Create a Payment Plan

Still wondering, “How to boost my credit score?” Always tackle your debts with a repayment plan that includes dealing with debt collections, eliminating any card balances, and working to pay down much larger debts.

Open a Credit Card

Some Carlsbad buyers might have a lower credit score due to never having a loan or credit card. Opening a card can establish credit, and you should keep it under the 30% balance and pay your bill every month. Always keep a consistent schedule to pay your bills on time and keep your debt limit low.

If you can’t qualify for a regular credit card, choose a secured credit card. This card type has a small limit and requires an initial deposit of a couple of hundred dollars to open.

Build a Credit Age 

Any credit score is built up over time. If you’re starting one today, one way to improve or add to that history is by becoming a user on a family member’s account. As long as they’ve paid their bills on time, this reflects well on you. Everyone must understand who gets to use this credit line and how payments will be handled.

Minimize New Credit Applications

While we’ve discussed a new card or loan as one of the ways to improve your credit score, you need to be judicious in applying for new loans or cards. When lenders do a hard inquiry of your credit, that can impact your score for up to a year.

Learn More About How to Raise Your Credit Score at Quality Chevrolet

Now that you’ve read about our tips to increase your credit score, explore all your available finance options near Oceanside. Beyond sharing how to get a better credit score, Quality Chevrolet has a variety of ways for you to find the best vehicle at a fair price.

If you’ve found a model that suits your needs, you can start the process by applying for financing in our secure online portal. For those wondering how much they’ll pay, use our online calculator. Discover our great selection of new and pre-owned vehicles in Escondido!