Some of our Boise title loan customers get title loans when they are in a need of financial assistance without having to go through an extensive credit check. Banks run your credit and can quickly deny you for a loan based on your credit score. When you get an title loan with Ideal Lending, LLC we do not run your credit! We base your loan approval on the value of your vehicle and your ability to pay back the loan. Consumers who get a title loan with us are usually interested in how they can restore and rebuild their credit. Here are 3 helpful hints that consumers can follow to help build their credit score.
1. The first and most important step in improving your credit score is keeping track of it. Consumers can get a copy of their credit report once a month. This helps clients manage their score more effectively.
2. Keeping track of your bills and paying them on time will improve your credit score. Staying on top of payments is key to maintaining a high credit score.
3. Make sure to understand as a consumer how your credit score is determined. Knowing how credit is established can help you rebuild yours. Your credit score if determined by the following questions: Are your bills paid on time? When you have unpaid bills, this will show up on your credit score. Secondly, have you applied for new credit recently? When consumers apply for multiple lines of credit around the same time, this can affect their credit score as well. Thirdly, do you have outstanding debt? This pertains to how high your debt is compared to your credit limit. If you are maxed out on multiple lines of credit this does not fare well to your score.
Clients can obtain a Boise title loan with us to pay off past debt and bills and improve their credit score. Also, by utilizing these tips and understanding how credit scores are calculated, clients can get a better grasp on their credit situation which may open up alternative loan options.