The credit score is one of the most important pieces of information a lender has when considering whether to approve or deny a loan. But what if there was a way to create your own credit score? There is no such thing as a perfect credit score, and each lender has their own criteria for what constitutes good credit. But there are some steps you can take to improve your chances of getting approved for a loan, even if your current credit score isn’t the best. First, make sure you’re using all of your available credit products. A high utilization rate means you’re using your available credit resources more effectively, so lenders will view you as more responsible and likely to repay debts. Second, keep updated on your account status and payments. If there are any changes – like an increase in debt – report them right away so that lenders can factor that information into your overall rating. And finally, always pay your bills on time – even if that means borrowing money from friends or family members in order to do so. Doing these things will help build good credit history which can help improve your overall rating on future loans. ..
