How to Improve Your Credit Score

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How Improve Your Credit Score | LoanMart

Your credit score may determine how much interest you will pay when you take out a loan. A poor credit score can increase house payments by more than $100 a month. Simply put, having poor credit makes it difficult to get a loan. If you have problems with your credit history and still need a loan, consider a title  loan from 800LoanMart.

Building a Good Credit Score

Creditors want to see that you can handle your credit and make timely payments. You can start building credit by getting a general credit card. Avoid store-specific cards and try to get the lowest fixed rate card possible. Only spend as much money on the card per month as you are willing or able to pay off. This demonstrates responsible credit use.

Unfortunately, improper credit card use can hurt your credit score. Avoid carrying your maximum credit limit on the card each month. Make absolutely sure you are never more than 30 days late on a payment.

After you become comfortable using your credit card, the next step to boost your credit rating is to make a larger, more expensive purchase. For instance, if you purchase an automobile and religiously keep the payments current, your credit score will climb. At some point, you may decide to purchase a home. Keeping your home payments current will drive your credit score to new heights. Following this kind of responsible payment pattern lets creditors know that you can handle a large amount of credit.

Fixing a Bad Credit Score

The first step to fixing a bad credit score is to bring all of your payments current and show that you can keep them current for an extended period of time. The next step to fixing a bad credit score is to monitor your credit by using any credit tracking too. Consider  writinga dispute letter to each applicable creditor on your credit report. It is likely that the bureaus will accept some of your challenges and reject others. This process – which can take from three to nine months – will maximize your credit rating.

In the meantime, if you need to make an emergency purchase, be sure to consider auto title loans  through 800LoanMart.

Trusted lender of over 250,000 customers2

Trusted by over 250,000 customers since 2002, we know how to do business the right way. Our US based customer service team is there for you seven days a week.

All loans will be serviced by LoanMart. See State Disclosures for additional information. LoanMart is currently not lending in California and does not make loans or credit.

1Loan approval is subject to meeting the lender's credit criteria, which may include providing acceptable property as collateral. Actual loan amount, term, and Annual Percentage Rate of the loan that a consumer qualifies for may vary by consumer. Loan proceeds are intended primarily for personal, family and household purposes. Minimum loan amounts vary by state. Consumers need to demonstrate ability to repay the loan.

2Based on consumers who received a loan from LoanMart 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 2PM PST on a business day.

4To exercise the right to rescind, the consumer(s) must notify the lender in writing by midnight on the third 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.

5Lenders recommend and encourage consumers to pay early and often and more in order to avoid additional finance charges.

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