When it comes to auto financing, your credit score is a key factor. If you’re concerned with your score, there are some simple steps you can take. Our Jeep® finance experts at Blaise Alexander Chrysler Dodge Jeep RAM Fiat of State College have a few tips to help you get started.
Check Your Credit Report
There may be issues dragging down your credit score that you aren’t even aware exist. It’s important to check your credit report to see if there are any discrepancies. You can even send disputes on your own to the credit reporting company if you think there are mistakes.
Don’t Miss Any Payments
Late payments can seriously hurt your credit score. Do everything you can to make your payments on time. If you already have late payments hurting your score, you can try reaching out to your lenders with a goodwill letter to see if they’ll remove them.
Pay Down Your Credit Cards
The amount of debt you have, as well as your utilization rate, are both big factors when it comes to your credit score. If you’re maxing out your cards, your score is definitely suffering for it. It’s recommended that you use no more than 30% of your available credit. There are a few other steps you can take:
- Make two payments each billing cycle, which can reduce how much interest you pay
- Transfer your debt to a card with a zero percent APR, which can help you pay down your balances sooner
- Request a credit limit increase to lower your utilization rate
- Consider a debt consolidation loan
Apply for Jeep Financing in State College, PA
When you’re ready to apply for an auto loan, we’re ready to help. We can help you easily secure financing at Blaise Alexander Chrysler Dodge Jeep RAM Fiat of State College, so there’s no need to shop around. Stop in to get started today!
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