2017 Canada Credit Score Improvement Tips – Fast Improvements
Is your credit score keeping you from buying the car that you badly need? If so, we prepared tips to help beef up your credit score as quickly as possible so you can get a better interest rate on a loan.
Discharge False Information
Go through your credit report and look for wrong entries so you can request the responsible credit bureau to correct them right away. The errors need not be huge to be corrected; they can even be as simple as a wrong due dates or wrong payment transaction dates. Getting false information pulled off your account can help improve your credit score immediately.
Pay Down Debt
The more debt you acquire, the lower your score gets. Paying off your existing debts will improve your credit score quickly. Do not be discouraged even if you can only afford to make small payments to each of your accounts. Paying down debt even a little at a time keeps your credit cards and other accounts from going into collections. It may seem like getting rid of your debts is better than letting it pile up but this is far from the truth. An account that’s in collections is going to hurt your credit score a whole lot worse so make sure that you do everything you can to keep this from happening.
Pay On Time
Paying your dues on time for several consecutive months will not only keep you from incurring penalties but will also significantly increase your credit score. If possible, pay off your debts as soon as you can so you won’t have to pay a lot in interest.
Talk to Creditors
Creditors want their money back and are willing to work with you to make that happen. If you’re having a hard time paying off your loan, talk to your lender for possible options. Creditors may let you cut down of of the debt by agreeing to take a smaller amount as a final payoff, erase a few late charges in exchange for paying in full, or they may be willing to wipe a couple late charges off your record so they don’t even show up on your credit report anymore. They may also be willing to adjust your interest rate, due date, or the duration of your loan. Creditors don’t have to be your enemy. They can, and are willing to help you get their money back. So make sure you keep them in the loop by letting them know your problem before you start missing payments.
Improving your credit score doesn’t happen overnight. Monitoring your credit report, paying on or before the due date, paying off a loan as soon as possible, and negotiating better loan terms with your creditors may quickly help improve your credit score but, at the end of the day, you still need to develop good habits as a borrower in order to maintain good credit.
If you can no longer wait for your credit to improve in order to acquire a car loan, you can check your options at New Car Canada. We specialize in providing car loans to individuals with bad or zero credit. Application is ABSOLUTELY FREE. You won’t spend a cent to get apply and you won’t be obliged to purchase anything. If you meet our 3 simple requirements, you will get approved in less than 24 hours! Interested? Click the apply button for to fill-out our short application form.
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