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Get your Credit Back on Track in 2013

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With the New Year upon us, many people are looking ahead at the great things to come. Along with a new year often comes new changes, and a new-to-you automobile is not only an exciting change but can actually help you financially as well.
Believe it or not, purchasing a new used vehicle from Auto City can improve your credit score. Making regular payments can take a damaged or non-existent score and lift it up to average, or better. Having a solid credit score is not about being debt free, it is about being responsible with one’s debt, and making an auto purchase from Auto City can get you back on track to having good credit.
There is often a focus on the things that can contribute to a negative credit score, but at Auto City and our in house financing dealerships, we can help you start the New Year off on a positive note. Here are some additional tips on ways to help rebuild a damaged or non-existent credit score.
  • REVISIT OLD DEBTS: Just because a creditor has stopped the repeat phone calls, doesn’t mean a debt has gone away. Contacting a debt collector about an outstanding debt and making arrangements to pay small, manageable installments can help get your credit back on the right track. It may take a while to get the debt paid off, but in the end the benefits are well worth the time and patience.
  • STAY CURRENT ON BILLS: Do a review of your monthly bills and take note of the due dates. Knowing when your bills are due will ensure that you do not inadvertently make late payments. Creditors like to give money to people who make their payments. Send out payments a few days early to make sure that they are timely and this will pay dividends in the long run.
  • KEEP BALANCES LOW: It is pretty easy to load up that credit card, but tricky to pay it down. Credit cards that carry a balance higher than 30% of the limit can actually hurt your credit score. Try using your credit card for purchases you know you can pay off in a month and watch as your credit score starts to rise.
  • CHECK YOUR CREDIT REPORT: It is not as uncommon as one might think to see errors on your credit report. By checking your credit report, at least annually, you’ll be able to make sure everything is as it should be. Checking your credit report is not a credit inquiry and will not affect your credit score.
Building up one’s credit score takes discipline and patience but it can be done. Start this year 2013 off right with the help of these tips, courtesy of Auto City. Remember, we can help with bad credit financing.