Tips to Improve Credit Score

 
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Tips to Improve Credit Score

Although we try to help those with poor or bad credit at LoanMart, sometimes we’re unable to secure car title loans for everyone who wants to use us as their lender. Credit score is an indication of how responsible a person is with their money and it helps us understand if they will be able to manage a new loan.

Even if we can’t help someone out with a loan, we can always help them improve their financial knowledge.

Be aware that improving credit does take time. Take action, and keep it steady and consistent over a period of time.

Here are our best tips to improving credit score:

1. Check Credit Reports

First, individuals should pull their credit report (this can be done for free once per year) and verify that the information is correct. A low credit score could be due to errors on your report. If a mistake is found, call one of the three credit bureaus to have the error resolved.

2. Make Consistent Payments

To improve a credit score, make sure all payments are being made – on loans, credit cards, and mortgages – on time. Consistently paying bills will show that the borrower is capable of managing their money well, and as a result, their credit score will go up.

3. Don’t Carry High Balances

If someone is in the habit of using up all of their available credit each month, they should stop! Even if they have the cash available to pay off their high balance, utilizing every last bit of credit an individual has is bad for their credit score. People’s score improves when they have plenty of credit, but not using it all up.

4. Pay Off Debt

If a borrower has any balances that they’re carrying from month to month or are in debt, it’s important to make a plan to pay off what is owed and remain debt-free once that’s achieved. Having debt will drag down a person’s credit score (plus, it’s not good for finances in general!).

Once a person’s credit score is up and looking good, customers are ready to check out the title loans online that are needed in order to get a check fast. Feel free to see if your improved score helps you by visiting LoanMart online and trying out our free tool to see if you might qualify.

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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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LoanMart is a responsible lender and takes its legal responsibilities seriously. Questions? Customersupport@800loanmart.com or call 855-399-2261.