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100 Burwash Ave, Savoy, IL, 61874

How to Fix Bad Credit

How To Fix Bad Credit with Serra Honda Champaign

Are you in a situation that has lowered your credit score significantly?

Are you wondering why this is the case? Serra Honda Champaign understand that bad credit scores can be a fact of life. Here is a detailed explanation as to why you could have a less than stellar score.

Unemployment is one of the most common ways that your credit score can be affected. Struggling to meet a monthly payment and having little money to repay your debt will allow your credit history to slide down the slippery slope to poor credit. On top of that, frequent late or missed payments will not drastically influence your score, but regularly faulting on payments will tip off credit companies that you are financially unstable.

There is a tiny ding to your credit score every time you view it. This is not a big deal in the whole scheme of things, but if you are constantly viewing your score it will be affected. Moreover, credit companies will run a credit check when you apply for a new credit card. If your credit score is viewed multiple times in a short timeframe, it generally indicates that you are financially hurting. Credit companies will not give you a credit card because of the risk associated with monetary instability.

If you are one to keep your credit card balance high: beware!

Credit scores are calculated based on the ratio of your total debt to total available credit—maintaining a high balance will absolutely ravage your credit history. Never max out a credit card and avoid paying it back!

Bankruptcy is the trump card in terms of destroying an excellent credit score. Any bankruptcy filings are legally allowed to stay on your credit history for up to a whopping 10 years! During that time, receiving a mortgage, getting loans at a decent rate and even purchasing affordable car insurance will become extremely difficult.

While there are many ways to hurt your credit score, there are just as many to increase it! Monitoring your credit, making payments on time and choosing sound financial decisions are all easy ways to get you back on the right track.

Serra Honda Champaign in Savoy, Illinois is here for you.

We will work hard to find the right car at the right price—even if your financial situation is less than perfect. Please stop in and see our amazing inventory selection. We can’t wait to help outfit you with the perfect vehicle!

Phone Numbers:Sales Hours:
  • Mon - Thu9:00 AM - 7:00 PM
  • Fri9:00 AM - 6:00 PM
  • Sat9:00 AM - 5:00 PM
  • SunClosed
Service Hours:
  • Mon - Fri7:00 AM - 5:30 PM
  • Sat7:30 AM - 2:30 PM
  • SunClosed
Parts Hours:
  • Mon - Fri7:00 AM - 5:30 PM
  • Sat7:30 AM - 2:30 PM
  • SunClosed
Collision Center Hours:
  • Mon - Fri8:00 AM - 5:00 PM
  • Sat - SunClosed
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Serra Honda Champaign 40.0750486, -88.2514234.