null Rebuild Credit Through Credit Acceptance

Family holding car keys of new car

For the longest time you’ve been trying to get credit approval to buy a car, and after connecting with a dealer on the Credit Acceptance program, you finally got it. Woo hoo! That’s great news.

But since getting approved for financing is only half the battle, it’s time to start focusing on next steps — particularly, improving your credit score.

Now that you have vehicle financing, you have a fresh start at building or rebuilding your credit, and the number one way to do this is by paying your bill on time, every time. Credit Acceptance reports to the three major credit bureaus (Equifax, TransUnion and Experian), which gives you the opportunity to improve your credit score through consistent, on-time monthly car payments.

In addition to paying your bills on time, here are some other ways you can improve your credit:

  1. Keep balances low on your credit cards.
    Some credit scoring models look at how close you are to being "maxed out," so try to keep your balances low in proportion to your overall credit limit. Experts advise keeping your use of credit at no more than 30 percent of your total credit limit.

  2. Build your credit history.
    Since credit scores are based on experience over time, your score will likely improve the longer you have credit, open different types of accounts, and pay back what you owe on time.

  3. Apply for and open new credit accounts only as needed.
    Credit scores may consider your recent credit activity, which is an indicator of your need for credit. If you apply for a lot of credit over a short period of time, it may appear that your economic circumstances have changed for the worse.

  4. Be careful closing accounts.
    If you close some credit card accounts and transfer most or all of your credit card balances onto one card, it could hurt your credit score if you are using a high percentage of your total credit limit. Frequently opening accounts and transferring balances can hurt your score as well.


To get started on your credit approval, fill out this short form and get connected with a dealer near you who is enrolled in the Credit Acceptance program!