Building & Keeping a Positive Credit History

TIPS TO OBTAINING AND MAINTAINING A GOOD CREDIT SCORE
Your FICO score is a point of reference lenders will use to rate and designate a risk to you when deciding whether or not to grant approval for your motorcycle loan and what kind of interest rates to give you. If you do not know what your credit score is, click here to get your FREE 2019 Credit Score & Report.

Below are some tips intended to help you improve your credit value. If you follow the advice below, you will be able to improve your credit score, thus allowing you to obtain approval for your motorcycle loan, with the best rates achievable.

Avoid Excessive Debt - Try not to lose control of the balances you have on your credit cards. A good idea is to try and keep your balances below 25% of the accessible credit line. For example, if you have a credit card with a $10,000 limit, do not keep a balance of more than $2,500.

Don't Fall Behind on Your Payments - If you do not pay your bills on time, your credit score is going to be effected in a very negative way.

Start Building Credit As Early As Possible - If you have no credit, getting approved for a motorcycle loan is going to be more difficult than if you do have credit. If you do obtain approval with no credit, the rates you receive for your financing are going to be higher than someone with a good credit history. Therefore, it is important to start establishing credit as early as possible in your life.

One good means of building credit is to obtain a credit card. Use your credit card once a month, and always pay the bill on time. Don't close this credit card account ever! The longer you have a credit card account open, in good standing, the better it will reflect on your credit score!

Another good means of establishing credit is to have utility and/or phone bills in your name. A positive payment history with these types of bills will help your build credit fast! Get more tips for getting approved for no credit motorcycle loans.

Stay Away From Having Your Credit Pulled Many Times - Your credit is pulled, or checked, every time you apply for any type of credit. Having your credit checked excessively in a short period of time negatively effects your credit score, regardless if you approved or denied for the credit you are applying for.

Check Your Credit Regularly – Did you know that you can get a free copy of your credit report? It is very important to obtain your credit report a minimum of once a year. You want to eliminate the chance that there is any damaging information or erroneous data present that can hurt your chances of approval for your motorcycle loan or negatively effect the interests rate you receive for your financing. Click the link to learn more about the importance of getting your credit checked on regular basis.

Credit Scores and Motorcycle Loans
Bad Credit Motorcycle Loan Tips

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