Tips How to Get a Better Credit Score

If you’re in the market for a new or pre-owned vehicle but you need tips to increase a credit score, Hamden Chevrolet in Hamden has you covered! We can teach you how to get a better credit score and the various ways to raise a credit score. So, if you’re wondering “ How to boost my credit score” Read on to learn with our finance team near Wallingford.

Pull Your Credit Reports

There are many ways to raise a credit score, just like there are many that will lower your credit score. So if you’re wondering how to boost your credit score or how to get a better credit score, it starts by reviewing your credit reports from one of these major credit bureaus: Experian, Equifax, and TransUnion. The Fair Credit Reporting Act entitles you to one free copy a year that you can access at AnnualCreditReport.com.

Examine Your Debts

An important tip to increase credit scores is assessing your debt. Here are a few ways to determine the factors of your credit score:

• Your debt to credit ratio: How much available credit you have vs. how much you have actually charged. Our recommended advice to North Haven customers is to keep your credit card charges under 30% each month.
• Number of cards with balances: The more cards with balances, the lower your score.

Develop a Payment Plan

If your debts are adding up, an easy way to get a better credit score is by eliminating small balances.

Get a Credit Card

When you open a credit card in Milford, it will help you establish credit when you pay your bill on time. If you’re wondering how to get a better credit score, pick one recurring monthly charge and pay it with your credit card, then pay it off on time every month.

If you do not qualify for a regular credit card, you can consider a secured credit card. A secured credit card has a small limit and requires an initial deposit of a couple of hundred dollars to properly open and secure. A great tip to increase a credit score is by choosing a recurring monthly charge and having it paid using your credit card. Just ensure you have money aside each month to pay off your balance.

Learn More Tips to Increase a Credit Score at Hamden Chevrolet

Contact us at Hamden Chevrolet if you’re still wondering about how to boost your credit score or whether you should buy or lease.