
Will car payments for 6months give me a good credit score?
I have no credit file and i wanna get a car payment. How long do i need to make consistent payments to get a good credit score.
Public Comments
- Auto finance is what I do for a living and you need to make between 12 and 18 payments as agreed to really help your credit score. 12-payments on a installment loan made as agreed is the first thing lenders look for when the are trying to make up their mind weather to approve someone for a loan or not. This not only shows a good payment history (35% of your score) but it also shows the ability and willingness to repay someone.
- it will help but i wont make a difference for a couple of months, then you can expect to see your scores come up 8-10 points per month after about 6 months. More realisticly it will be 18 months befor your score is up there, assuming you dont pay anything late. Good luck!
- yes it will, and never be late on your payments
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