AUTOCENTERS HERCULANEUM BLOG - ST. LOUIS, MO

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Build Good Credit While in College

 
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August is our month to focus on tips for students who will be returning to school soon, and we've got more for you.

If you're a college student and you feel like you're struggling to get a hold on your understanding of car financing or credit scores, we encourage you to explore our blog and read more about Credit Tips, pros and cons of car financing, auto loans, and more.

 
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The Ultimate Credit Tip

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This key credit tip from AutoCenters probably isn't going to come as much of a surprise, but with tax refunds starting to come in--and Herculaneum and St Louis locals getting excited about what they'll spend it on--it's time for this helpful reminder:

The best way to raise your credit score is to pay everything on time, all of the time.

It's simple, but it's true.

Every on-time payment is like a gold star on your credit report. And every late payment? Is a harsh mark.

 
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Let Old Debts Lie

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Do you know the saying: Let sleeping dogs lie? The same holds true for older accounts on your credit report that show positive information--let them lie, and don't try to get them removed.

While some people believe that they should try to erase all history of an open account the second that its paid off, there are two problems with this:

  • Having any number of good accounts, open or closed, shows that you have experience as a borrower
  • You can't actually erase things from your account unless you go through an extensive process and have solid reasons for…
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Instead of Snowmen This Winter, Try Building a Snowball Effect for Your Debt

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Even if you've taken advantage of competitive rates on bad- and no-credit car loan in St. Louis and you have the car you want, you may still be looking for ways to reduce the total amount of debt you're in, and keep boosting your credit score.

Using the "snowball effect" method on your loans and accounts could help you cut way down on debt, faster than you might think.

How do you "snowball" your loan payments? It's actually pretty easy.

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Tips to Build Credit: Timely Monthly Payments

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While we've talked about how to care for your credit score in the past, the team at AutoCenters Herculaneum knows how hard it can be at times to navigate the journey of building credit. If you have bad credit, or no credit at all, you may be looking for help.

That's why we're kicking off our new blog series for St. Louis-area drivers about how to take your low or nonexistent credit score and build it up to the highest tier of credit excellence.

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