Having a bad credit is never good news. You probably have heard about the rumors attached to a bad credit score which is the ultimate reason why you terribly want to improve your credit. Problem is you don’t know where to start. Because of that, you just do what you know best and end up doing lots of mistakes.
Fortunately for you, Instant Loans Canada has detailed the ways for you to build a good credit or even fix a bad credit. Also Instant Loans Canada offers you car title loans if none else works.
Apply For A Credit Card
It may sound like a bad idea to apply for a credit card when you don’t have a credit yet. But actually it is the first step in building a good credit. But before you get too excited, always remember that you have the responsibility to pay off whatever you charge your credit card with. Hence, be careful with your purchases.
Take Note Of The Interest
Aside from the basic amount of your purchases, you also need to pay for interest fees. These are annual fees turned as monthly payment dues. Interest rate is the value your bank charges for the privilege of allowing you to borrow money.
By paying your interest on time, you are not only building a good credit reputation but also you lessen the additional charges the bank would have given you for late payments.
Use Your Credit Card Wisely
Just because you have a credit limit does not mean you must reach that each month. To be able to maintain a good credit score, always have a credit budget and stick to that. Also make it a point to use your credit card to purchase what is necessary. For instance, you can use your credit card to buy groceries, gasoline or even pay house bills. On the other hand, if you are a student, you can use your credit card to purchase books or partially pay your tuition fee.
But keep in mind that you have to clear those charges you used your card with monthly just so you won’t end up paying sky-high interest rates.
Use Car Title Loans If None Else Works
If no matter how careful you are in using your credit card and prompt you are with your payment but still you were not able to control some emergencies along the way – which means you end up with a bad credit, then make use of car title loans to solve your problem. It is easy to get approved of a car title loan as long as you have a fully or nearly paid vehicle. Car title loans can help you pay off all your debts to redeem back your good credit reputation.