Improve Your Credit
Arizona Car Sales in Mesa Arizona presents a guide to improving or establishing your credit!
Credit Scores, otherwise known as FICO scores, range from the high 300’s to a perfect 850. Given the challenging economy, housing and employment market of the past couple of years, many people’s credit has been adversely affected, some people dropping from a 700+ score to one in the 400’s. Here at Arizona Car Sales in Mesa Arizona, we get asked what the best ways to improve your credit are, so we decided to publish the best ways we have seen for people to establish or re-establish credit. The goal of having a credit score in the 700 range, which means you will get the best interest rates and terms available, means that most people have to get to work and get their credit score in shape! After all, your credit score determines what interest rate you’ll pay on your auto loan, credit card balances, most kinds of insurance, and your home mortgage. The higher your score, the lower the interest rates you’ll be offered so try these suggestions!
To improve your credit score:
- Pay all your bills on time
- Only apply for the credit that you need
- Don’t use too much of the credit that is available to you
- Order your credit report every year and dispute any errors you find
Here’s the stuff that’s usually worth the effort of correcting with the bureaus:
- Late payments, charge-offs, collections or other negative items that aren’t yours.
- Credit limits reported as lower than they actually are.
- Accounts listed as “settled,” “paid derogatory,” “paid charge-off” or anything other than “current” or “paid as agreed” if you paid on time and in full.
- Accounts that are still listed as unpaid that were included in a bankruptcy.
- Negative items older than seven years (10 in the case of bankruptcy) that should have automatically fallen off your reports.
Money and Credit Resources:
Credit Report resources: