Monterey Financial shares tips on how to build (or rebuild) and maintain good credit in 4 simple steps


With over three decades of experience, Monterey Financial offers information that empowers consumers to take control of their financial future.

Think of a good credit rating as a key that can open the door to faster and easier access to money and long-term savings”

— Vice President of Operations, Nate Lucas

OCEANSIDE, CALIFORNIA, USA, June 29, 2022 / — Just as good physical health is essential to long-term well-being, a good credit score is essential to overall financial well-being – and both require a multifaceted approach that addresses specific vital factors. Although building (or rebuilding) good credit takes constant effort, the steps to success are simple and well worth the effort if you want to establish a strong financial future. After more than 30 years of building a solid reputation as the third-party leader in consumer financing and delinquent account collection, Monterey Financial demystifies the simple four-step process to help consumers better understand how credit works so they can that they can get a solid score and improve their finances. prospects.

“Think of a good credit rating as a key that can open the door to faster, easier access to money and long-term savings,” says Monterey Financial Vice President of Operations Nate Lucas. . With a credit score of 670 or higher (widely considered “good” by financial institutions), you can more easily access better financing terms on big items like a house, car, education, or a vacation package. cell phone. Your chances of securing a home rental – without the penalty of a higher security deposit – increase with a good credit score. You can also get a credit card with a higher limit and lower interest rate, saving you money over time. All of these benefits can lead to a more secure financial future.

Whether your current credit position is less than “good” or you haven’t yet established one, these four steps can help you increase your score:

1. Know where you stand. In order to increase your score, you need to know where you stand and that all information is accurate. This requires obtaining your credit report. Consumers are entitled to a free copy of their personal report every 12 months from the three major consumer reporting agencies – TransUnion, Experian and Equifax. Go to to get yours. If you think your credit report contains inaccurate information, it’s important that you take steps to correct it. You can start by contacting the “data provider” (the company that reported the account), providing them with supporting documentation and a description of what you think is inaccurate. This can resolve a dispute over debt that may not be due or lead to the negotiation of payments/settlements when circumstances require.

2. Use credit to build credit. In order to build good credit, you must first prove that you can use it responsibly. There are several ways to do this, including becoming an authorized user on someone else’s credit card (assuming they have good credit) and opening a secured credit card (requiring a security deposit). This can help you build credit while getting you to get bigger credit options over time and on your behalf.

3. Make payments on time. Your payment history is the most influential factor on your credit score. The more on-time payments you make, the better your score will be. Be sure to make your payments by the monthly due date. One way to manage these payments is to keep your balances low. Maintaining a card balance below 30% of the credit limit is ideal for building credit. When possible, you can also look for opportunities to pay off loan and credit card balances sooner. Having a loan marked as “paid” is another way to build credit. You also save on interest charges that can be used for savings or other purchases.

4. Flex your credit muscle with new accounts. Once you’ve proven your liability with a line of credit, opening another new account or loan can help you build your score faster. Just make sure you don’t take on debt that you can’t afford. Understanding your overall finances and maintaining a prudent long-term plan will help you manage and improve your credit over time.

Monterey Financial Services’ team of experts is widely recognized for powerfully boosting business owners’ bottom line with efficient and timely consumer credit programs and debt collection solutions. They are known for providing excellent and compassionate customer service while adopting advanced fintech-based approaches that streamline the customer experience. Find out why Monterey is a trusted leader in consumer finance, loan servicing, bad debt collection, strategic finance, and more. Contact Monterey here or call 1-800-456-2225.


About Monterey Financial Services:
Monterey’s Mission Statement: To empower every business to optimize sales growth and cash recovery. Monterey Financial Services has built a reputation for unparalleled customer service, developing tailored consumer finance and recovery solutions for businesses selling consumer products and services. Solutions are designed to meet customer needs, whether they bundle Monterey services or use what meets their specific needs. With services such as consumer credit, lease-to-own financing, loan servicing, custodial services and bad debt collection, customers have the ability to take advantage of consumer receivables of all classifications. credit and all stages of the receivables life cycle. With industry-leading results, Monterey remains committed to combining the best technology with its talented staff to achieve a primary goal for its clients of optimizing portfolio performance. For more information, please visit the company’s website at

Sources Cited
“9 benefits of having a good credit score.”
“Planning My Financial Future: How Can I Improve My Credit Score?
“The fastest way to accumulate credit.”

Jessica Kopac
The JKO agency
+1 805-570-2599
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