We’ve been there. A few late bills, a couple of accounts gone to collections, a credit card or two that has been used up to its limit – all of these things can happen when someone has hit hard times. And all of those things can cause your credit score to take a big hit. But it doesn’t mean you’re score is stuck forever. The good news is that there are several ways to increase your credit score. Lots of our Cerritos customers have significantly recovered from bad credit using expert tips from our finance department to increase their credit scores. So let’s talk about how to boost your credit score.
It may seem like we’re at the mercy of the three credit reporting bureaus when it comes to our credit scores. But you are not powerless. You can fix your credit and get that new car you need. At Kia of Cerritos, we know how to get a better credit score, and plenty of our Los Angeles customers have done just that. So take a look at our tips to increase your credit score below:
Check your credit report. This is an important first step. We often tell our Carson customers that you can’t fix what you don’t know about.
Dispute any inaccuracies with the credit bureaus.
Open a credit card. This applies if you don’t have any credit cards. Having an open credit account (that you haven’t used up to the credit limit) counts favorably towards your score.
Open a secured credit card. If you can’t get a conventional credit card. Get one that is secured by a deposit in a bank account. If you pay your bills on time, this will count favorably towards your score
Pay your bills on time. Bills that are paid late don’t look good on a credit report.
Dispute old mistakes. Unfavorable items are supposed to leave a credit report after a certain amount of time. If there’s a very old late bill, short sale, or some other negative event on your credit score, find out what the time limit is on reporting it according to federal law. If that time limit has passed, dispute the event with all three credit bureaus.
Pay down or pay off debt. A big debt utilization ratio (used credit to available credit) can hurt your credit score.
Clear up collection accounts and late bills. Get these negative events off of your credit report.
If your credit score is lower than your liking, be proactive. If you’re wondering how to boost your credit score, follow the above tips to increase your credit score. Take advantage of as many different ways to increase your credit score as possible. It may take some time, but there is light at the end of the tunnel.
Our knowledgeable finance managers know how to improve a credit score, and can help you do just that. You should drop by to talk to them. While you’re here, you might as well look at out new vehicle specials. We make it easy for you to get behind the wheel of your next vehicle. You can even get pre-approved for financing online. We’re just a short drive away from Orange County. So drop by or contact us today!
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