Ready to purchase a new Honda car, truck, or SUV? Concerned about your bad credit? Our Honda finance experts at Lester Glenn Honda have a few tips to help you raise your credit score.
Check Your Credit Report
Building and improving your credit can certainly take time. However, when you want an easy fix to raise your score quickly, start by reviewing your credit report. You want to look for any inaccuracies or disputable claims that can be removed from your report to help boost your score.
Ask for a Credit Line Increase
Your utilization of your credit can have a big impact on your score. Experts recommend that you keep your utilization under 30 percent. So, if you’re maxing out your cards, consider asking for a credit limit increase to instantly lower your utilization. Just make sure that you resist the urge to use the extra credit!
Pay Off Your Debt
While we know it isn’t always an option, consider paying down your debt. A big payment on a credit card or loan can help lower your utilization or total debt. This can help improve your score but also helps when we calculate your debt-to-income ratio when you apply for a loan.
Become an Authorized User
Do you have a trusted friend or family member that has excellent credit? If they’re willing, become an authorized user on one of their credit cards. This helps improve the amount of credit you have available, and you’ll also get credit for your solid payment history.
Visit Our Sea Girt Honda Dealership to Get Approved Today
Still have questions? Want to discuss your financing options? Stop by Lester Glenn Honda in Sea Girt, NJ to chat with our finance experts today!
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