Are you ready to drive away from the showroom of Blaise Alexander Chevrolet Altoona in a new Chevy car but worried about your credit score? At our dealership, our Chevy finance experts are here to help. While some drivers choose to pay in cash, the majority opt for financing, where your credit score plays a large role. Here are some tips to raise your credit score and receive more favorable loan terms.
Pay Your Bills on Time
Though this may seem obvious, paying your bills on time is a crucial component of your credit score. To help, set reminders, create automatic payments, or use a budgeting app to ensure that you never miss a payment due date.
Don’t Close Old Accounts
One important factor that goes into your credit score is the length of your credit history. Closing old accounts may seem beneficial, but it’s actually the opposite, as doing so may shorten your credit history and potentially lower your score.
Pay Off Your Credit Card Balances
High credit utilization, or the amount of credit that you use compared to your credit limit, can negatively impact your score. Aim to keep your credit card balances below 30 percent of your available credit and pay them off completely if possible.
Check Your Credit Report for Errors
Before applying for financing, check your credit report for errors or inaccuracies. You can obtain a free copy of your credit report from Experian, Equifax, or TransUnion.
Obtain a Secured Credit Card
If you are rebuilding your credit, a secured credit card can be of assistance. These cards require a security deposit, which is typically your credit limit.
Chevy Financing Made Easy in Altoona, PA
Here at Blaise Alexander Chevrolet of Altoona, our friendly Chevy financing experts make financing simple. Visit us today to get the ball rolling on a Chevy financing plan!
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Finance