Four Tips for Fighting Bad Credit in Greer, SC
Four Tips for Fighting Bad Credit in Greer, SC
For those with less-than-ideal financial credit, the prospect of rebuilding it can seem daunting, especially when you need to make a big purchase — like a new or used car. While it may be discouraging to wade through the repercussions of bad credit, there are many tips that can help you repair your credit score over time. Our team at D&D Motors has pulled together four tips for improving your credit score so that you can once again have financial health and flexibility, so keep scrolling below to get the know-how on how to see those three digits improve.
1. Check Your Credit Report & Fix Any Errors
You might already be acquainted with your credit score, so it may be redundant to say that the first tip to rebuilding it is to know where it stands. The most common score that lenders will use is the FICO® Score 8. It ranges from 300-850, and scores above 670 are the ones we’d like to see you achieve. But with three different credit bureaus, make sure to check with each one — it’ll give you a starting point so that you know how much it needs to improve. Also, it’s far too common for errors to appear on your credit report, but those inaccuracies can be disputed. Raise your concerns with each credit bureau separately since there may be different errors.
2. Make Payments on Time
Our next tip to repairing your credit is to make sure each payment you make goes through on time — late payments make the biggest impact on your credit score, some 35% of it. If you have trouble remembering due dates, set a reminder on your phone so you won’t forget. Or, enroll in automatic payments with a bank account that holds a healthy amount.
3. Stay Below Your Credit Limit
Many don’t know this one — staying at least 30% below your credit limit is a good rule to follow. The same percentage of your FICO score consists of how much credit you’re currently using (also called credit utilization), so we suggest staying at that 30% so that exceeding your limit doesn’t become a habit. If that golden number is a struggle, request your limit to be increased.
4. Be Patient
It’s probably the most frustrating tip on our list since you want to see quick results, but the last thing to do is to be patient with your credit score. After disputing errors and setting good habits in making payments, letting time do the rest is really all that you can do. When you see your score reach those higher numbers, give us a call. We want to see you in a car that you love and in a healthy, affordable financial situation.
Many dealerships are willing to work with customers who have bad credit. At D&D Motors, we'll do our best to find a plan tailored to your needs. If you'd like to learn more about rebuilding your credit score, contact us today or stop by our location at 13655 East Wade Hampton Blvd. Greer, SC 29651. We welcome customers from Greenville, Spartanburg and the Upstate.
For further tips on fighting bad credit, check out the following articles:
https://www.experian.com/blogs/ask-experian/credit-education/improving-credit/improve-credit-score/
https://www.credit.com/credit-repair/how-to-improve-credit-score/
https://www.nerdwallet.com/blog/finance/how-to-rebuild-credit/
https://www.nerdwallet.com/blog/finance/raise-credit-score-fast/