If you’re like most people, your credit score isn’t something that you think about 24/7. But when it comes to getting approved for a mortgage or car loan—or even agreeing to a new apartment lease—your credit score will be the first thing that lenders notice. In fact, it can be more important than income when it comes to qualifying for certain mortgage loans.

So if you want the best possible chance at getting approved for these kinds of financial products, then improving your credit score should be your top priority in 2023!

What Is a Credit Score?

Your credit score is a three-digit number that represents your credit history. It’s used by lenders to determine whether or not they should lend you money. A high score can mean better rates, lower fees, and more options when you need to borrow money.

A good credit score falls between 670 and 800, above which it’s considered excellent. Anything below 600 isn’t good enough for most lenders to consider giving you a loan or opening a new line of credit (like an account with a credit card).

Why Do You Need a Good Credit Score?

You need a good credit score to do things like:

• Get a mortgage or car loan
• Get better interest rates
• Better housing options
• Insurance discounts
• Better credit cards

And so much more! Another typical benefit of a good credit score is easy access to loans and credit products. That’s why Breeze Lease offers lease-purchase solutions to people in all financial situations. We believe that everyone deserves to live in a way that makes them safe, happy, and comfortable.

That being said, if you can do something to improve your credit score, you definitely should!

What Are the Factors Impacting Your Credit Score?

The first thing to know is that there are two main factors affecting your credit score: payment history and credit utilization.

When it comes to paying bills on time, the most important factor is how long you have had a credit card or loan in your name. The longer you have been responsible with payments, the better you look to creditors since it indicates you can be counted on for future borrowing and can handle larger balances if necessary.

If you’ve had trouble making payments in the past or have never borrowed money before (or at all), this isn’t as much of an issue—however, it’s useful to consider building up your history by opening a student loan or small personal loan at some point.

The most important thing you should know about improving your credit score is that it takes time—you can’t do it overnight! But by making the right choices and putting in the work, you’ll see the results in the long run. If you’re just starting out on your journey to taking control of your credit score, don’t worry. At Breeze Lease, we know what you need, and we can help you get it, whether you have a good credit score or not. If you’re interested, reach out to us today.