The single most important factor when applying for a lease, loan, or mortgage is your credit score.
If you’re trying to keep your credit score as high as possible, you will need to use your credit card responsibly and practice good spending habits. If you don’t have a high credit score to obtain the financing you want, you can potentially boost your credit score by purchasing authorized user tradelines.
What’s a ‘Good Credit Score’?
For the most part, credit experts consider any credit score around 650 to be ‘fair.’
Someone with a 650 credit score has paid off most of their bills and may have missed a few payments during their time as a consumer. Sometimes, consumers with 650 credit scores don’t have much credit history, meaning they haven’t utilized a ton of credit throughout their lives.
If you have a credit score in the 650 range and a bank or lender looks at your credit score, they might reject your financing application. However, this is not always the case.
There are many liberal banks or lenders out there that may consider giving you the loan with your current credit score. If they approve you, you will likely get a high-interest rate and end up paying more money than if your credit score was higher.
Before applying for a new loan, a person with a 650 credit score should boost their credit score to get the best rate possible. Improving your credit score means improving the terms in your loan agreement, which could save you money in the long run.
What Can 100 Points For Your Credit Score Do?
If you have a 650 credit score and you boost it by 100 points, you get into the 750 range, which is a MASSIVE improvement. A 750 credit score is above average compared to the national average of consumers. Often, a 750 credit score will get you better interest rates, loan options, and flexibility.
By boosting your score by 100 points, you can rise into a completely different lending category. Lenders will see your credit score as an indication that you pay your bills on time and you are fiscally responsible.
How To Get an Additional 100 Points On Your Credit Score
There are several ways you could improve your credit score, though it’s typically best to start with the bedrock notion of never missing payments on outstanding debts.
Beyond making regular payments, you should check your credit report every now and then to see if there are any mistakes. You can dispute mistakes through the credit bureau.
Of course, you can always look into tradelines as well.
Here at Personal Tradelines, we’re all about making sure our customers are confident throughout the tradeline buying process. We’re here to provide all of the necessary knowledge so that you can find the tradeline that fits your situation best.
Make sure to get in contact with us when you are ready to take the first step towards great credit!