Your credit score can make a huge difference in various aspects of your life. From securing your dream job in the financial sector to buying your dream home, this three-digit number can be influential. Also, people with good credit scores are preferred by landlords when you’re looking to rent and insurance premiums to are lower when compared to one for those with bad credit scores. But a good credit score isn’t always a given. A few missed payments or a sudden loss of a job is all it takes to hurt your score! If you’re one of those unlucky people whose credit score has taken a beating, here’s how to get it back on track.

Review Your Credit Score

The one thing that you shouldn’t do when building your credit history is to assume your credit score. Everyone is entitled to a free annual credit report from major credit bureaus. Make sure the details mentioned are correct to rule out errors. Knowing your score, even if it’s a bad one, is the first step to repairing it.

Make Payments on Time

Avoid missing payments, however small including medical bills, loan payments, library fines, etc. More importantly, make sure these repayments are listed on your credit history as this is one of the most important elements of rebuilding credit. Businesses are now turning over unpaid bills to collection agencies, and this could stay on your report for at least seven years. With those on your report, your number will continue to drop.

Apply for a Bad Credit Car Loan

I know bad credit car loans seem counterintuitive when you’re credit rating has already taken a hit. But remember, repayments are a huge factor for building your credit. At Maritime Car Loan, we not only offer Maritime auto loans at low-interest rates but also report repayments to credit bureaus. Remember to inquire about our credit rebuilding program when you check for bad credit car loans.

Improve Your Credit Habits

The last thing to consider is your buying habits. Do not buy things you can’t afford even if the deal is tempting. You can’t really afford to buy a lot of extra things and then make minimum payments every month while rebuilding credit. It is important to stay below the credit limit and pay off bills on time and in full.

Are you looking for bad credit car loans in Nova Scotia? Call us!