How to Rebuild Your Credit

If you’ve suffered the effects of damaged credit, you’re probably ready to rectify the situation. But do you know where to start?

When you decide to rebuild your credit, it’s important to follow the correct steps. Otherwise, you could actually end up damaging your credit even further.

5 Tips to Rebuild Credit

How to Rebuild Your Credit

For some, knowing where and how to start rebuilding your credit can be daunting and confusing. But never fear, Auto Credit Express has some great tips and tools to get you started.

  1. Know Your Score
    Before you start doing anything for your credit, you need to know what you’re working with. If your score is severely low, perhaps you should consider what tools are available for a more drastic change.
  2. Make a Budget — And Stick to It
    You need to create an outline of your spending and savings plans – otherwise known as a budget. It’s important that you actually stick to this plan if you want it to be successful and help you not only build your finances, but your credit too.
  3. Create an Emergency Fund
    Even when we do stick to a budget, sometimes things come up that we simply can’t ignore. That’s what an emergency fund is for: to cover surprises that come up without breaking your budget.
  4. Make Payments On-Time
    Pay off your previous debts as soon as you can and keep them that way. It’s true that not every company reports your on-time payments; but they will certainly report your late payments – and that will tear down your score.
  5. Use Credit Cards Wisely
    It’s okay to have and use credit cards; in fact it can help build your credit. However, if you are spending more than you can pay off in one month you are sure to have issues. How much you plan to spend on your cards should be a part of your monthly budget so you know what you can afford.

There are many more tips and steps to improve your credit, but these five will help you get your feet on solid ground. We’ve created many tools to help you move in the right direction as well as help you find the assistance you need.

As We See It

When you’re held back by a deteriorated credit score, it can be difficult to acquire the things you need in life. That’s why we’ve made it our goal since 1999 to help you and others improve their quality of life and rebuild their credit. Buying a car, truck or SUV is surprisingly one of the best ways to do that. Find out in less than three minutes how much you can qualify for by completing our hassle-less auto finance application today!

Posted on April 24, 2014 by in Bad Credit, Uncategorized
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