How To Improve Your Credit Score in Lindsay, ON
How To Improve Your Credit Score in Lindsay, ON
Your credit score can greatly affect your acceptance rates when applying for loans. A comprehensive and affordable car loan is a major factor that can significantly affect the vehicle you buy. Here at Lindsay Dodge, we want to help you afford the car of your dreams from our new inventory. That is why we have outlined some top tips to improve your credit score and get better loan approval rates. Keep reading to learn more!
Monitor Your Payments
Being on top of your payments is one of the best ways to improve your credit score. Consistently making at least minimum payments on time can keep your payment history in good standing. Try signing up for electronic alerts or auto-pay if you have trouble remembering to pay your loans on time.
Use Your Credit Wisely
Try to stay below your credit limit as much as possible. Borrowing more than the authorized limit on your credit card can lower your credit score. Staying below 35% of your available credit is good practice to remain in good credit standing.
Limit Your Number of Credit Checks and Applications
Did you know that every time you apply for a loan or credit card, an inquiry is performed? Inquiries, also known as credit checks, can slightly lower your credit score the more you have them done. Limit the number of credit checks you apply for and get quotes from lenders before accepting a credit score inquiry.
Use Different Types of Credit
Having a mix of different types of credit can improve your score. As long as you make payments on time, having multiple loans can be beneficial. Various loans include credit cards, car loans, a line of credit, and a mortgage.
Contact
Lindsay Dodge Chrysler
57 McLaughlin Road Lindsay, ON K9V 6B5
Sales: 866-981-4935
Service: 866-924-8199
Parts: 866-926-3127
Hours
Mon - Thu | 8:00am - 5:30pm |
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Fri | 8:00am - 5:00pm |
Sat - Sun | Closed |