Use These Tricks to Raise Your Credit Score

October 7, 2020 | Mason Roberts

 

 credit score

 

Credit score is the one thing that haunts us through our adult life. When people first take a loan, they are certain that the conditions are good, that they might even pay off the credit before its due date, and that they will soon be debt-free. One thing leads to another and their credit score is lowered. With a low credit score, you might not be able to afford large purchases like cars and homes. While it’s not impossible to make a big purchase like this, it’s significantly harder with a lower credit score.

If this sounds familiar, this article will benefit you directly and if you are looking for ways of maintaining a good credit score, you’ve come to the right place. We’ll even show you how to get a title loan which you can be approved for even with a bad credit score but more on that later. Let’s focus on how you can raise your credit score.

Increase Your Credit Card Limit

It sounds counterproductive to have a higher spending limit on your credit card. However, this is a great idea if you can keep your spending on that credit card, to a minimum. The smaller the percentage of money used on a credit card, the better your credit score will be.

Don’t Pay Off The Smaller Debt You Have

If you have a small amount that you keep paying off every month, it affects your credit score positively. If you need to urgently improve your credit score, look for “title loans near me”, in order to learn more about title loans. We serve several Locations throughout the state of New Mexico so you’re near far from fast financial relief! You can also use the money on a title loan to access a new credit card. Aim to use just 10% of the money available on a credit card. It is better to have multiple credit cards, with great balance, than just one with a high usage rate.

Always Have a Savings Account

Saving money is very important for your future. It is even more important for lenders because they learn more information about you from your financial habits. People who save money, no matter how many credits they have, tend to be more disciplined financially. Therefore, start a savings account, if you don’t already have one and save some money every month. Even if you put aside 10$, doing it regularly and not spending that money, will improve your credit score.

Pay Your Balance More Than Once A Month

Most lenders check your credit score whenever you are looking to obtain a loan. Title loans, however, aren’t based on your credit score. For more information on what title loans can do for you check out this blog Title Loans Santa Fe: Last Minute Cash Solution. That moment might be before you have to pay the balance on your credit card, so your debt score will look much worse than it actually is. 

One trick is to pay the balance bimonthly, during the month that you are looking to obtain a loan. If you don’t have the liquidities necessary to do this, you may want to access title loans in order to pay your balance and improve your score. 

Get A Second Credit Card

Lenders look at how many credit cards you have and at how you utilize them. Having a credit card that you barely use and that has low charges and excellent balance is a great way of impressing a bank.

Pay Your Bills and Any Leftover Feeds

Payment history is analyzed in depth by lenders. This includes everything, even that old 50 cent telephone bill that wasn’t worth the trouble. The way you pay your bills represents up to 35% of your credit score. So, make sure that you are always on time with your payment because a missed deadline can affect your credit score negatively.

Maintain The Balance

Sometimes, lenders check to see how you handle money on a larger scale. As a general rule of thumb, people who are good with money don’t shop a lot. So, if you use your credit card to shop every day, this might be a sign that you don’t have enough financial education to handle more debt. Try to spend a set amount of money, every month, and to go shopping no more than once every week. If you must spend a significant amount of money, before requesting a loan, this might put your credit score off balance. In this case, it would be best if you would access title loans instead of ruining your credit.

 

 woman checking credit score

 

Get a Title Loan in New Mexico

Title loans are a short-term loan option that allows you to leverage the value of your car to access up to $10,000 in fast, immediate cash! Furthermore, if you’re worried about your credit score being affected by a title loan, don’t be! Title loans don’t affect your credit score. You can obtain one in a store or online by filling out a short online form that can be found on the New Mexico Title Loans, Inc. Website. A representative will contact you to review the information that you’ll need to supply in person. Here’s what you need to bring with you:

  • Your driver’s license or state-issued ID
  • The lien-free title to your vehicle
  • A blank check to your bank account

You’ll also need to supply your car for a quick, five-minute inspection that will help the lender to determine how much money you’ll receive for your loan. It’s that simple. When it comes to the credit score system, it’s tricky and difficult to navigate, but once you understand a few basic principles, you will be able to maintain it to the best level possible. And if you need money, title loans near me is something you can always search for and find easily with us.