If you’re working on financing a car from Crest Cadillac, you’ve likely been hearing a lot about credit scores. The better a score, the better deal you can get on a loan. The good news is that you can improve your credit score with some time and patience.
Keep Your Credit Card Balances Low
Your credit score is affected by how much you owe compared to your credit allowance. If your cards are close to maxed out, that will have a negative effect on your score. Keep your balances paid off most of the way for a better credit score.
Minimize Your Credit Sources
Having too many credit cards will also reflect badly on your score. Pay off the smaller balances first so that you just have one or two cards to focus on, and this can help to gradually increase your credit score.
Pay On Time
One of the biggest factors to consider when calculating a credit score is your payment history. If you’re not paying bills on time, you’re not developing a good credit score. Make on-time payments a priority—set up automatic payments if you have to—and start working your way to positive financial history for better financing opportunities in the future.