If you’re trying to increase your borrowing capacity, it could help to improve your credit score. Lenders will assess your credit score to determine what type of borrower you might be. Typically, the lower your score, the higher your interest rate.
Some of the most effective ways to improve your credit score include:
- Paying off any existing debt
- Lowering your credit card limit
- Paying bills as soon as you receive them
- Stop applying for credit or credit cards
- Paying credit cards on time
- Making sure there are no errors on your credit report
