Easy Ways to Improve Your Credit Score

 
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Easy Ways to Improve Your Credit Score

Bad decisions and situations out of your control may have led you to a bleak place in your financial life. Bad credit can affect your ability to obtain loans from banks and other lending institutions and can be difficult to repair without a lot of hard work and time. We’ve put together a small list of accessible methods of obtaining a brighter financial future.

Pay Down Balances

When your credit score is calculated, you want the credit you are using to be a certain percentage less than the money you could be using. The best way to lower this percentage is to pay down balances on smaller loans and credit cards. Online title loans can provide you with quick cash to help you pay off higher balances that are influencing your credit.

Bills in Favor of Down Payments

Big purchases like cars and homes often require that you save up a large down payment, and many consumers make the mistake of paying more up front to slightly lower monthly payments. Saving a chunk in your bank account rather than paying bills on time may affect your credit score. It doesn’t matter how much money you have in the bank for your loan when your credit has taken a hit. Always pay bills on time rather than putting the money in savings.

Quick Changes

You can also improve your credit score by simply avoiding things that can lower it. Never miss payments on loans you currently have and don’t drastically drop your payments or charge more than normal in a short period of time.

If you are in need of emergency cash to pay bills, or find that you don’t have the money to get by, turn to car title loans rather than missing or lowering monthly payments on regular loans.

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DISCLOSURES

LoanMart may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. LoanMart does not offer or service student loans. California loans are made or arranged pursuant to a California Financing Law License. See State Disclosures for additional disclosures.

1Credit approval is subject to LoanMart’s credit criteria standards. Actual loan amount, term, and Annual Percentage Rate of the loan that a consumer qualifies for may vary by applicant. Minimum loan amounts vary by state. Consumers need to demonstrate ability to repay the loan.

2Based on consumers who received a loan from February 2002 to October 2018.

3Application processes could take five (5) minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Funding time is based on the time from final approval following receipt and review of all required documents and signing, prior to 5PM PST on a business day.

4To exercise the right to rescind, the consumer(s) must notify LoanMart in writing by midnight on the sixth calendar day from obtaining the loan. Within one business day from notice of rescission, the consumer(s) must return any monies received and fees paid on behalf of the consumer(s) by certified funds.

5LoanMart recommends and encourages customers to pay early and often and more in order to avoid additional finance charges.

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