With Some Determination and a Little Help, You Can Rebuild Your Credit
What Can a Person Do to Get a Better Credit Score?
If your credit score is less than stellar, or perhaps you have little credit history, it’s important to know that you aren’t alone. Americans all across the country are in the same boat, but it’s important to take wise steps to help boost that credit score into the future. So, what can a person actually do to get a better credit score?
Although it may feel like you’re stuck, the truth is that you can improve your credit over time. Here are some practical steps you can take:
Things You Can Do to Boost Your Credit Score
- Pay off debts: We know… this probably wasn’t the answer you were hoping for, but the reality is that those debts aren’t going away on their own. You’ll need to pay them off if you want to boost your credit long-term, so plan out a budget and decide how much you need to pay toward these debts. Many find that it helps to knock out a large debt all at once, and then work on some of the smaller ones a piece at a time. It can also help to pay off any bills in collections first.
- Analyze your credit reports: Credit reports are pretty serious business, determining what your lending options are when it comes to buying a house, renting, etc. Though these should be accurate more often than not, the truth is, mistakes can be made. Look them over in detail, and if you notice any discrepancies, be sure to contact the credit agencies.
- Get the right credit card: If your score is low because of a lack of credit history, thankfully, it’s a little easier to start boosting that score. Applying for a credit card is likely your first step, but do some research to ensure it’s the right one. You’ll want one that will work for your income/credit history. Credit cards also tend to deliver rewards to users, so find one with rewards that work for your lifestyle, whether it be cash back on payments, airline points, etc. Just be sure to pay off the card as soon as you’ve used it.
- Get a trustworthy loan: Getting a loan with bad credit or little credit history can be a major challenge, but there are businesses out there that are willing to help you and work with you to get you the loan you need. Buy Here Pay Here dealerships, like Carlisle Motors for example, can get you a car loan when other dealerships won’t. Simply keeping a record of your payments throughout the loan can help you convince lenders to provide you with a loan down the road, but it’s also worth checking with such dealerships or other businesses to see if they will report your on-time payments to the credit bureaus.
As you can see, there are some practical things a person can do to improve their credit score, though regardless, it will take some work and sacrifice to cut your debt out of the equation. Check back to the Carlisle Motors blog for more helpful advice or to learn more about how you can get a used vehicle with struggling credit.