The Top Dos and Don'ts when You Have Poor Credit ...


There are plenty of dos and don'ts when you have poor credit. If your credit score isn't the best, you may feel that your options are few, or that you can't build your score. This, however, isn't true. To get on the right path, here are seven dos and don'ts when you have poor credit.

1. Don't Apply for New Financing

So, what are some dos and don'ts when you have poor credit? For starters, don't apply for new financing. Getting a secured credit card can help build your credit score. But with regard to an auto loan or a mortgage loan, avoid these types of financing, if possible. Because of bad credit, you'll receive a much higher interest rate than someone with good credit. This results in a higher monthly payment which might strain your budget. It's best to pay cash for now, and get financing once your credit score improves.

Don't Make Excuses
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