The Best Ways For You To Build Credit

Jul 23, 2021
Bad Credit Tips


If you have neglected your credit, you may think there's no hope for improvement. Thankfully, that's not true! Anyone can build credit with some time and patience. The steps on how to start building credit aren't wildly known, but we've compiled a list of the best ways you can improve your credit.

How To Build Your Credit

The key to improving your credit is consistency. There is no way to improve your credit overnight, so don't expect to see a jump after your first monthly payment. Just remember that if you're determined to build your credit and you put the work in, you'll see the results over time.

Become An Authorized User

One of the most low-risk ways to build credit is to be approved as an authorized user on someone else's credit card. Find a friend or family member with an established credit card and ask if they're willing to add you as a user. You won't be responsible for paying the debt on the credit card back, but the card will show up on your credit history.

 

When you're doing this, make sure the account holder is financially responsible. That means they should have a long history of on-time payments. If the history shows late or missed payments, it will have a negative effect on your report.

Get A Credit Card

Getting approved for a credit card of your own can improve your credit score. Your available credit and payment history both influence your credit. The caveat is, you have to make all of your payments on time for this to build your credit. It would be best if you also kept the debt on the card as low as possible.

 

The best course of action is to have your monthly payments be automatic. It's also a good idea to pay off the entire credit card balance after you use it. That way, your available credit stays high, and your monthly interest remains low.

Pay Your Bills - On Time

Even if you don't have credit cards or large loans, you still need to pay your bills on time. Utility companies can report your payment history to credit companies. If you're consistent with your payments, this can be a massive boost to your score.

 

It will show lenders that you're responsible and able to pay a monthly bill. Reporting your utilities can also help balance your score if you've missed credit cards or other debt payments. The missing or late payments will still be a negative remark, but utilities can help prove that you can be consistent.

Pay Attention to Your Credit Cards

Once you have a credit card or two, pay close attention to how you use them. Make extra payments whenever you can. Even if it's a small portion, these micro-payments can improve your score and save you money on interest.

 

After a few months of on-time payments and low credit card usage, call your credit card company. Ask if they will increase your credit limit. This will give a small boost to your credit score and give you more credibility.

What You Can Do While Building Credit

You don't have to wait around for good credit to get an auto loan. Rapid Auto Loans specializes in fast and straightforward auto title loans. We won't even check your credit score when you apply. You don't have to have proof of an income either.

 

We give the loan to you based on collateral alone. You also have a full twelve months to pay the loan back in monthly installments. Plus, if you're late for a payment, give us a call, and we'll give you a ten-day grace period.

The Best Way to Build Credit in Florida

Improving your credit takes time, and you might need some financial assistance while you're building your credit. When you need an auto loan but you're still trying to build credit, call Rapid Auto Loans at 954-960-7099. We'll approve your auto loan even if you have no credit at all.

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Car Title Loans: Rapid Auto vs. The Competitors

Car title loans offer quick cash to someone facing financial hardships and needing emergency money. These loans use the value of your vehicle as collateral for the loan.

Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.
All loans have a repayment period of 12 months and there is no minimum prepayment penalty. Interest Rates are determined and approved by the State of Florida based on the borrowed amount and the maximum APR (which includes interest rate plus fees and other costs for a year) is 30%. You pay interest only for the time your loan is outstanding. Below is a representative example of the total cost of the loan, including all applicable fees:
3,233.68

APPROVED LOAN AMOUNT

0.00

Government Fee

25.00

Credit investigative Fee

11.55

Documentary Stamp Tax

3,270.23

Total amount Financed

11/1/2016

Original Loan Date

29.07%

APR

316.39

Monthly Payment (x12)

Rapid Auto uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.