Credit is one of the very biggest factors when getting an approval. Our quick list:
- Check your credit score and credit history well in advance of your purchase. The only true legitimate site is www.annualcreditreport.com
- Make sure to have at least one credit card that is used regularly – paying it off at the end of the month is fine
- Pay your revolving and installment loans on time – every time. Current and past credit history is the best indicator of future credit history
- Don’t take out new debt while you are in the middle of a purchase – this may sound basic but it can ruin your transaction
Next week we’ll tackle what to do if there are issues with the credit report.
Have a great Monday!