Have you tried to purchase a car recently, but were turned down for financing due to bad credit? Credit repair may be beneficial for you. Of course, establishing good credit takes time, but with the help of a credit repair company like YEG Auto Credit, you’ll get the answers to your credit questions, as well as a sense of direction. Credit repair involves the use of several tools, strategies, and services—all which play an integral role in your success.
Your credit report is a summary of your credit history, and is pieced together using information collected by Equifax Canada or TransUnion Canada—two of Canada’s major credit-reporting agencies. When you apply for credit, your credit report is a deciding factor in whether the lender approves you. The team at YEG Auto Credit can provide you with a copy of your credit report, and help you review it for possible misinformation.
One of the most important aspects of good financial management is paying your bills on time. Credit reports are snapshots of your ability to make payments in a timely manner, so a missed payment is a black mark on your credit history. Payment reminders are available through many credit bureaus, as well as monthly automatic payment of the minimum amount due on a bill. If you have a history of forgetting due dates, we highly recommend these services!
If credit repair is your main priority, it’s best to postpone making credit card purchases until further notice. Instead, actively work toward paying your debts down and sticking to a payment schedule. For future reference, one of the easiest ways to avoid difficult debt accumulation is to keep your outstanding account balances below 35% of your available credit limits. This way, you won’t feel in over your head when you view your statement balances.
Credit Repair Companies
Good credit repair companies understand that improvement takes time, and the end result depends on the work you put into the process. YEG Auto Credit is one such company. We likely won’t increase your credit score by 100 overnight—but we’ll show you the most effective ways to boost your credit now, and in the future. We’re committed to helping you get the car you want through credit report auditing and more productive financial management.