How to Rebuild your Credit
At Shaganappi Chevrolet we recognize that during the different times of
peoples lives it is possible to run into difficulties that strain financial resources causing blemishes on an individuals
credit report. These complications can impede or cause strains when
applying for credit for a
new or
used vehicle purchase or lease. Read the list of good strategy tips below
and regain your financial freedom. For answers to any other questions choose the option below:
Is it Possible to Fix Bad Credit?
Yes! Read on and learn how to improve your credit at no cost to you.
- Get a Secured Credit Card: Unlike an unsecured credit card, a secured credit uses money that you place in a special
account at your bank or other financial institution. However, like an unsecured credit card they report your financial history
to the credit bureaus.
- Speak with one of our Finance Staff: Let he or she know that you would
like to start re-establishing your credit and see if we can help.
- Open a Savings Account: Pay yourself first - save 5% of your pay and save your next pay raise or bonus.
- Pay your Bills on Time: This goes a long way to improving your credit rating. Paying utility bills and credit cards
on time demonstrates a willingness to improve your credit.
- Get a Department Store Credit Card: This one can be tricky if you are an impulse buyer. These types of cards are
easier to qualify for than an unsecured credit card due to their high interest rates. Buy small items ($50 - $200) and pay the
bills off before the financing begins or on time if their is no waiting period.
- Create a Budget: Sit down and create a realistic budget that you can stick too.
- Don't Apply for every Credit Card: Each time you apply for credit or financing it generates an inquiry. This includes applications through the mail and over the phone. Too many
inquires create blemishes on your file.
- Don't over extend your credit: Buy a vehicle within your budget
Rebuilding your credit takes time. Blemishes on your credit can take up to seven years to remove; however, the more positive
information you add to the file, the more they help reduce the effect of the negatives.
We hope this article was useful. For more information about how to rebuild your credit or any of the vehicles we offer
select an option below:
PS: Our Used Vehicle Database contains 32382 vehicles
Come visit
Shaganappi Chevrolet in
Calgary, Alberta (AB)
and we'll turn your bad credit around!
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