How to Repair Credit Exposed
by Tom Turner
Bad credit is one of the most threatening things you can have going against you in this life. Without good credit it makes it difficult to buy a car or rent a home...
Bad credit is one of the most threatening things you can have going against you in this life. Without good credit it makes it difficult to buy a car or rent a home without paying a fortune in fees. This article will show you some simple steps you can take on how to repair credit.
How to Repair Credit Step One - Get a Credit Card
It may seem like the worst idea you could think of to get a credit card if you are trying to repair your credit. Well, yes, if you struggle with charging too much and have built up too many bills then this is not a step to take, but if you have bad credit because of some unfortunate circumstances and need to rebuild your credit reputation then getting a new credit card can help.
If your credit is poor you may have to go with a secured credit card. A secure credit card is one that you must deposit money into before you can use it. These cards will also come with an annual fee. You may be able to avoid the annual fee if you call just before the annual fee is due and ask for a review or you might mention that you are thinking about cancelling your card. This will usually get them to reduce or eliminate the fee.
How to Repair Credit Step Two – Pay Your Bills on Time
OK, paying your bills on time may seem like a simple thing, but it is extremely powerful. Usually after three months of faithfully paying your bills you can increase your credit score by a few points. If you continue this good pattern of paying your bills on time you will raise your credit score more and more.
How to Repair Credit Step Three – Send a Simple Letter
You are entitled to free credit reports each year. If you have questionable or bad marks on your credit that are not supposed to be there then you can apply online to have those marks investigated. Once you have sent an appeal for the marks on your credit the company in question has thirty days to reply to the credit agency. If they do not then the credit agency must remove the bad mark on your credit. You need to monitor this regularly to make sure no additional marks happen or old ones do not reappear.
Bad credit is one of the most threatening things you can have going against you in this life. Without good credit it makes it difficult to buy a car or rent a home...
Bad credit is one of the most threatening things you can have going against you in this life. Without good credit it makes it difficult to buy a car or rent a home without paying a fortune in fees. This article will show you some simple steps you can take on how to repair credit.
How to Repair Credit Step One - Get a Credit Card
It may seem like the worst idea you could think of to get a credit card if you are trying to repair your credit. Well, yes, if you struggle with charging too much and have built up too many bills then this is not a step to take, but if you have bad credit because of some unfortunate circumstances and need to rebuild your credit reputation then getting a new credit card can help.
If your credit is poor you may have to go with a secured credit card. A secure credit card is one that you must deposit money into before you can use it. These cards will also come with an annual fee. You may be able to avoid the annual fee if you call just before the annual fee is due and ask for a review or you might mention that you are thinking about cancelling your card. This will usually get them to reduce or eliminate the fee.
How to Repair Credit Step Two – Pay Your Bills on Time
OK, paying your bills on time may seem like a simple thing, but it is extremely powerful. Usually after three months of faithfully paying your bills you can increase your credit score by a few points. If you continue this good pattern of paying your bills on time you will raise your credit score more and more.
How to Repair Credit Step Three – Send a Simple Letter
You are entitled to free credit reports each year. If you have questionable or bad marks on your credit that are not supposed to be there then you can apply online to have those marks investigated. Once you have sent an appeal for the marks on your credit the company in question has thirty days to reply to the credit agency. If they do not then the credit agency must remove the bad mark on your credit. You need to monitor this regularly to make sure no additional marks happen or old ones do not reappear.
posted by Duncanz at
1:11 PM
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