I was wondering, I have loan that I have been paying on for a year on time. Will this help my credit

I%26#039;m looking to eventually get a new car, at a reasonable rate. My credit is for the birds. Yes, I%26#039;m in the prosses of paying off my bills, but that is going to take years I%26#039;m needing a reliable car soon.

I was wondering, I have loan that I have been paying on for a year on time. Will this help my credit score?

Yes, that will indeed help your credit. However, you still won%26#039;t get anywhere without good revolving credit (credit cards). Actually, one major factor in credit scores, especially for car loans, is available credit. This is the ratio of the amount of credit available to you vs. what you%26#039;re using. I%26#039;d recommend opening a credit card and negotiating between companies for the highest credit limit. Use this card for gas and small purchases, PAYING IT OFF EACH MONTH. You%26#039;d be amazed how much your credit score will jump.

I was wondering, I have loan that I have been paying on for a year on time. Will this help my credit score?

if all of your other loans are paid on time and under their limits, then you are helping your credit each month...

I was wondering, I have loan that I have been paying on for a year on time. Will this help my credit score?

Any loan that is reported to the credit bureau(s) and is in good standing will positively affect your credit score. Make sure it will be reported, though. A lot of the %26#039;buy here, pay here%26#039; type loans are not reported. You also can%26#039;t be certain how much your score will go up.

Also, make sure you are checking your credit report for free once per year.

https://www.annualcreditreport.com/cra/i...

I was wondering, I have loan that I have been paying on for a year on time. Will this help my credit score?

It will help your credit score, but slowly. Your old bills will still show up. When you are ready to get your new car you can check your credit report a www.freecreditreport.com to see how you stand. My credit was as you say for the birds until about 5 years ago when I started paying everything on time. I can get credit reasonably now, but anytime someone says they are going to check my credit, I remind them to look at the last 5 years and tell them that I grew up and became responsible. If you keep paying on time, they will notice. People really want to give you credit, and by doing this, you will prove that you can be reliable.