Tips for Fighting Bad Credit in Punta Gorda, FL

Anxious about buying a new car based on your credit? Here at Gettel Chrysler Dodge Jeep RAM, our finance team is well versed in assisting guests with varying credit scores attain the car of their dreams, and we want to help you, too! Whether you’re looking for a new or pre-owned model, we’ll guide you every step of the way. However, if your credit is preventing you from purchasing your ideal ride, keep reading to learn how you can turn it around for the better!

Check Your Credit Report & Fix Any Errors

Before you do anything else, you’ll want to check on the current status of your credit. This gives you clear insight into what improvements need to be made. It’s super easy to gather this info from credit bureaus, such as TransUnion, Experian and Equifax. Simply request a free copy of your credit report from any of these establishments. Keep in mind that the report you receive may be negatively affected by some errors that could appear. These errors have to be disputed individually if you notice you’ve received some. Confused on what’s considered a“good” credit score? Many lenders use a VantageScore 3.0 and FICO® Score 8 to get accurate information. Credit scores range between 300-850. Remember: The higher your score, the better it is.

Make Payments on Time

This may sound simple, but one of the most effective ways to improve your credit score is to make on-time payments as much as possible. This is crucial since 35 percent of your score is impacted by your payment history. Easy ways to stay on top of this is to either set up automatic payments or set reminders so you won’t worry about missing bills again!

Stay Below Your Credit Limit

Consider and evaluate how much of the spending limit you’re using. This is because 30 percent of your credit score is determined by credit utilization. Many people who have great credit scores typically use less than 30 percent of their available credit. We highly recommend staying in that range if you’re looking to boost your score!

Be Patient

Now for the hardest part — the waiting game. Yes, sometimes there’s nothing you can do but wait for your score to change if you’ve exhausted all your options. Once you’ve completed payments on time, fixed any errors and consistently remained below your limit, you just have to be patient. Once you notice a positive trajectory start to trend, you can start the pre-approval process! Our finance team will be waiting and ready to assist you whenever you’re ready to embark on your car-buying journey.

Here at Gettel Chrysler Dodge Jeep RAM, 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 dealership at 2323 Tamiami Trl, Punta Gorda, FL 33950. We welcome customers from Port Charlotte, North Port, Venice and Fort Myers.

For further tips on fighting bad credit, check out these useful resources:

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/