Steps to Improve Your Credit Score

Man using a laptop on an outdoor table

Low credit scores sometimes cause problems when a shopper applies for a credit card or car loan from a bank or dealership. The question is how to go about raising your credit score, and the finance team at Westpointe Chrysler Jeep Dodge is here to help! Consult our step-by-step guide below to get started.

Step 1: Check Your Credit Reports

Financial institutions make mistakes just like any other business. So, before you fret too much about your credit score, make sure your report is accurate. Three major credit bureaus – Experian, Equifax, and TransUnion – produce your score, and you’re entitled to a free copy of your report once a year from all three at AnnualCreditReport.com.

Step 2: Assess Your Debts

Get a handle on your overall financial picture by totaling up every debt you owe. Credit scores are often determined by two factors:

  • Debt to credit ratio: Ideally, credit card charges should stay under 30% of your total credit available. For example, if you have a card with a $9,000 limit, keep your balance under $3,000, approximately.
  • Number of cards with balances: Carrying a balance on more than one card lowers your score.

Step 3: Create a Payment Plan

Write down how you will repay debts owed in collections and small balances, then give yourself a realistic picture of how you will pay down larger, longer-term balances.

Step 4: Get a New Credit Card

Credit history is an important factor when determining a person’s credit score and many fare poorly simply because they’ve never had a loan or credit card. Try opening a new credit card account near Oklahoma City if you find your credit score is lower than you expected. As long as you keep debt to credit ratio in mind and pay your bill on time every month, it’s a simple way to get your number up. Many simply pick one recurring monthly charge and pay it with a credit card, while using their credit card company’s autopay features online to pay the balance off automatically, too.

Don’t qualify for a regular credit card? Consider a secured credit card instead, with a small limit, and an initial deposit.

Step 5: Build a Credit Age

Credit scores aren’t an instant assignment and are often built over time. That’s why many have family members on their accounts, in order to reflect well on those with less of a credit age. As long as your parent, sibling, or spouse pays their bills on time, their score will help raise yours if you’re listed on their accounts. Just make sure anyone involved on the same account agrees to share it.

Step 6: Minimize New Credit Applications

Always be judicious about applying for new cards or loans. When lenders do a hard inquiry on your credit, your score can be impacted by up to a year. So, only apply for loans or credit cards when you have to, and be sure to leverage the ones you already have responsibly.

Find Out More Ways to Raise a Credit Score near Mustang

Need more information? Contact us anytime! The friendly experts in our finance center near El Reno can guide you and answer any additional questions, including those about topics like gap insurance and how to get car financing with bad credit. We’re here to help you get behind the wheel of a reliable, affordable car, which means we’re here to guide you through the lead-up process, too.

More from Westpointe Chrysler Jeep Dodge

  • How Much Does the RAM 1500 Weigh?

    Before being fully loaded or hooked up to a trailer, the new RAM 1500 weight ranges from 4,798 lbs to 5,374 lbs. The vehicle’s design allows for high towing capabilities across Oklahoma City, with Gross Vehicle Weight Ratings between 6,800 lbs and 7,100 lbs. Read on to find out about curb weight, GVWR, and more. View…

  • Customize Your Ride with Jeep Wrangler LED Headlights

    Looking to level up visibility on your 2019 Jeep Wrangler? The new Wrangler for sale can be equipped with LED headlights for better visibility and navigation to and from Oklahoma City. This higher-trim lighting package is available with upgraded models, or available to outfit a lower trim with Mopar® LED bulbs. Take it easy on yourself…

  • 2019 Jeep Cherokee Configurations

    U.S. News and World Report’s list of compact SUVs ranks the 2019 Jeep Cherokee in the top 15 of the category. Why do critics and Oklahoma City area drivers love it so much? Because there’s so much to love among the many Jeep Cherokee trim levels, whether it’s a Jeep Cherokee 4×4 or FWD. Need details…

Saved
Saved Vehicles ×

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact
Contact Us ×

405-265-1400

Call Now

11001 W Reno Ave • Yukon, OK 73099

Get Directions

Today's Hours:

Open Today! Sales: 8:30am-9pm

Open Today! Service: 7am-6pm

Westpointe Chrysler Jeep Dodge

11001 W Reno Ave Yukon, OK

Phone: 405-265-1400

http://maps.google.com/?q=11001%20W%20Reno%20Ave%2C%20Yukon%2C%20Oklahoma%2C%20OK%2073099

Sales

Phone: 405-265-1400

11001 W Reno Ave Yukon, OK

Mobile Sales

Phone: 405-265-1400

11001 W Reno Ave Yukon, OK

Service

Phone: 405-265-1400

11001 W Reno Ave Yukon, OK

Mobile Service

Phone: 405-265-1400

11001 W Reno Ave Yukon, OK
35.4655413 -97.7159764
[schema type="organization" orgtype="LocalBusiness" url="www.westpointechryslerjeepdodge.com" name="Westpointe Chrysler Jeep Dodge" description="" street="11001 W Reno Ave" city="Yukon" state="OK" postalcode="73099" country="US" email="noe@westpointeok.com" phone="405-265-1400" logo="https://di-uploads-pod16.dealerinspire.com/westpointecjdr/uploads/2018/07/WestpointeCDJROGImage.png"]
Westpointe Chrysler Jeep Dodge
Westpointe Chrysler Jeep Dodge
11001 W Reno Ave
Yukon, OK, 73099 US
405-265-1400
https://di-uploads-pod16.dealerinspire.com/westpointecjdr/uploads/2018/07/WestpointeCDJROGImage.png
Westpointe Chrysler Jeep Dodge 35.4655413, -97.7159764.