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arteagay

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how to increase credit score for auto refinancing
I have recently attained a car loan and would like to refinance in the future but would like my credit score to increase before then. Im a college student and my only credit is a credit card of $1,500 and the loan. What can I do to increase my score? Should I just wait it out or seek another credit card?

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6 months after the loan

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Apply for a new credit card.  Try for one with 0% APR since they are plentiful now. 

use both cards each month, doesn't need to be a lot up to about 15- 30% of your limits. Don't go crazy with the cards, only use them for things that you would be buying anyway, so you don't incur extra debt.   Each month pay 75% of the balance of 0% card and 90-95% of the other.  This will keep any interest you have to pay low.  

You should see your score rise steadily. 6-8  months after the new card, you should be in a good place for a refi.

Good luck!

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