Having a bad credit score does not define you. No matter how you got into this position, Good Fellow’s Auto Wholesalers is on your side and wants to help you improve your score. The great part about working with our used car dealership is that there is no judgment and we all work together to achieve one goal, getting you a great deal for your used car financing. Our team has put together a few tips here that will help you repair your credit score and guide you towards a great credit.
Stay Organized & On Time
Paying bills on time is an essential part of a good credit score and is known to be the best way to start to improve your existing credit. Our team would like to suggest to you to stay organized and on top of the dates which payments are due. This process can involve starting a calendar for each month and writing down important dates so you don’t forget. You can also set reminders on your phone for when to pay a bill. Payments that are late only by a few days can still have tremendous negative effects on one’s credit score.
Keep Track of Your Credit Card Spending
Often it’s easy to see credit card bills pile up into big amounts without realizing how much you have spent until you take a look. This can provide an immense amount of pressure when it comes time to pay them and you don’t have the funds. Another issue here is that some people have multiple credit cards with many lines of credit that make it easier to spend even more money.
If you are having a hard time controlling how much you spend, it’s time to make a budget and ensure that you don’t go over it. This will train you to understand what is it that you can afford and what you can’t. As a tip, ensure that you are not spending close to the maximum balance on your credit card as this can have negative effects. To help you get back on track, start by closing a few of your credit card accounts. The ones that you should try to pay off first should be the ones with the highest interest rate.
Outstanding Debt
In order to improve your credit, we suggest checking your credit report occasionally in order to see if there is anything outstanding. If there is an old phone bill that is outstanding that was due a long time ago, it can have a big impact on your credit. Therefore, it’s important to get this under control and every so often check in the report to ensure everything has been paid off in a timely fashion.
Let Good Fellow’s Auto Wholesalers Help
Our team of financial experts would love to help you improve your credit and score you a great deal on a quality used vehicle from our used car dealership in Toronto. If you’re looking for more information on where you should start to improve your credit, give our team a call at 1 (855) 581-9590 today to find out more.