Boosting Your Credit Score with an Auto Loan
Credit repair is accomplished through a two-prong approach: resolve negative items on your report while adding positive ones. Potential creditors would like to see that you can be responsible with different types of credit. Show a good record with revolving credit by applying for a new credit card and using it wisely. To show that you can be trusted with a long-term loan, an installment loan is necessary. An auto loan is the perfect vehicle for a number of reasons, as long as you manage them well.
For more information on how adding an installment loan can boost your credit scores contact our office at 617.265.7900 or click here to request a free consultation.