How to Improve Your Credit Score

Credit Score


Is your credit score preventing you from securing a car loan? Do you need to know how to get a better credit score? The team at Music City Autoplex near Nashville is here to help! Find out ways to raise your credit score with help from our finance team.

Tips to Increase Credit Score: Check Your Credit Reports

So when you wonder how to boost my credit score and search for ways to raise credit score, you need an idea of what your credit score actually is. Be sure to get a credit score from all three major bureaus: Experian, Equifax, and TransUnion. The Fair Credit Reporting Act will help you get a credit report through AnnualCreditReport.com.

Tips to Increase Credit Score: Assess Your Debts

The two biggest factors that determine your credit score are:

  • Number of cards with balances: The more cards with balances, the lower your score. 
  • Your debt to credit ratio: How much your could potentially charge vs. how much your balance is.For the best ratio, you shouldn’t exceed 30% of your available credit every month. 

Tips to Increase Credit Score: Create a Payment Plan

By whittling down your debts diligently, you can vastly improve your credit score! Start taking care of your biggest balances first, then work on taking out smaller ones. Be sure to keep a close budget and limit frivolous spending.

Tips to Increase Credit Score: Open a Credit Card

You could have low credit could be because you simply don’t have any! When you open a credit card in Hendersonville, you can help establish your credit. Just be sure to stay under 30% of your available credit and pay your bill on time every month. A simple way to improve your credit score by opening a card for a recurring charge and promptly pay it off every month. 

Consider a secured credit card if you have problems opening a regular one. These cards have a small limit and usually require an initial deposit to minimize risk.

Tips to Increase Credit Score: Build a Credit Age 

A good credit score takes time to build. If you’re just starting today, being added to a family member’s account can improve your credit history. As long as they pay their bills on time, your credit will improve with theirs. Just make sure both parties have a clear agreement on how this line of credit is handled.

Tips to Increase Credit Score: Minimize New Credit Applications

While we’ve discussed credit cards and new loans as ways to improve your credit score, you will want to be careful when applying. When lenders do a hard inquiry on your credit, it can have a negative impact on your credit score. 

Find Out More Ways to Raise Credit Score at Music City Autoplex

Want more help on how to get a better credit score? For more tips to increase credit score, get in touch with the team at Music City Autoplex near Clarksville. We’ll help you improve your credit score and ensure you get a great deal on a model from our inventory.

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2430 Gallatin Pike N • Madison, TN 37115

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Music City Autoplex

2430 Gallatin Pike N Madison, TN

Phone: 888-797-4947

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Phone: 888-797-4947

2430 Gallatin Pike N Madison, TN
36.269330 -86.710610
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Music City Autoplex
Music City Autoplex
2430 Gallatin Pike N
Madison, TN, 37115 US
888-797-4947
https://di-uploads-pod20.dealerinspire.com/musiccityautoplex/uploads/2019/03/MusicCityAutoplex.png
Music City Autoplex 36.269330, -86.710610.