Apply with Us – 844-450-0221

Account Information – 844-924-3009
General Information – 800-472-1334

Customer Bill Pay

Taking Care of Your Credit During the Holiday Season

The holidays are a time of giving, and for many, it is also when they are hit the hardest financially. Don’t let bad credit ruin your mood this season. With Okinus Credit Solutions, options are available to keep your festivities full of holiday cheer. In this article, we will cover what a credit score is, and how you can take steps to improve it before ol’ Saint Nick arrives.

What is the range of a credit score?

A credit score is one of the most important indicators of your financial health. It gives lenders an overview of how you handle your credit. A better credit score will make it easier for you to obtain a loan or credit line.

Credit scores generally range from 300 to 850 with some minor differences, but let’s keep things simple and discuss the main scoring ranges for assessing credit scores:

● 300–490 are unlikely to be approved for a loan.
● 550–619 is considered poor, and any interest rates charged will be high.
● 620–679 is considered fair or average, and rates within this range may vary.
● 680–739 is a good score, as the U.S. median is 695.
● 749–850 is excellent, meaning your rates will be much lower.

What are the factors that affect your credit score?

There are many factors that can affect your credit score. These include:

● Using your credit limits
● Payment history
● Credit inquiries
● Balances on your active credit
● Number of accounts
● Available credit

How To Improve Your Credit Score with Okinus Credit Solutions

If your credit score is average or below, it is important to take steps to improve it over time. Here are some great ways to restore your credit score and still purchase the things you need:

1. Pay your bills on time every month.

Payment history has a huge impact on your credit score. It will work out in your favor if you pay off your debts responsibly and on time. The great thing about purchasing your Christmas gifts and holiday necessities through Okinus Credit Solutions is that when you make a payment every month on time, we report that to the credit bureaus to help you build back your credit!

2. Aim for a credit utilization of 30% or less.

Credit utilization measures how much of your credit limit you are currently using. Keeping your credit utilization in check is as easy as paying off your credit card balances each month. If you can’t, however, keep your outstanding balance at 30% or less of your credit limit.

3. Discover lease-purchase options with Okinus Credit Solutions

Okinus’ lease-purchase program allows you to obtain the merchandise you want when you need it without having to pay the cash price upfront. We purchase your merchandise from the retailer and lease it to you over the term of your lease agreement. Once you finish the lease term, you will own the item and gain a stronger credit score too!

It can be stressful to experience financial hardship, especially during such a special time of year. At Okinus Credit Solutions, we strive to empower our customers by helping them buy the products they need while building back their credit at the same time. To learn more about our lease-purchase program, fill out our application online, or call us today at 844-450-0221 for more information.