Getting a car loan is the best possible way to get your credit back in good standing but it is definitely not the only way. The following is a comprehensive guide to rebuild your credit in as little as 10 months.
Step #2: After 6 bi-weekly payments have been made, apply for a VISA® or MasterCard® from either TD®, RBC®, Scotiabank®, BMO®, or CIBC®.
Step #3: Use your new VISA® or MasterCard® for basic purchases like gas or groceries. Make sure that your monthly purchases do not exceed 75% of your credit limit. For example, if your credit limit is $1000, your monthly purchases should not exceed $750.
Step #4: Self control. It’s easy to want to splurge a little with your new credit card but remember, that what got us in trouble in the first place.
If you follow these four basic steps then you will be on the road to getting your credit back on track in no time. Apply Today and get Approved!