Credit repair services can be expensive, always unnecessary, and sometimes just plain fraudulent.
Forget using credit repair services and take a few simple steps on your own and, with patience, see the difference.
Forget using credit repair services and take a few simple steps on your own and, with patience, see the difference.
True credit repair is simple, but often not quick. Credit repair may take anywhere from 3 to 6 months before you can actually see your credit score rising, but nevertheless rise it will.
If you are thinking of buying a home, get your credit report beforehand, review it, and then work on improving it. You will be eligible for lower interest rates and a lower down payment.
The 5 reasons why you can forget credit repair services reflects the fact that you can take five essential steps yourself.
Assuming that you have five or more credit accounts, after receiving your free annual credit report, take these five essential steps.
1. Begin paying off your accounts with the lowest balance first. Pay these accounts down to zero and stop using them. Cut the cards up if you can't control yourself. But, don't close the accounts right away.
2. Reduce the balance on your other accounts where they are no more than 30% of your credit limit.
3. Continue using just three of your accounts, but continue paying down the balance each month so that it will not exceed 30% of your credit limit. Activity on these accounts is important. Don't let these accounts become inactive.
4. Avoid opening any retail store accounts where you are tempted to get 10% off your purchase price.
5. Forget any collection accounts that are over two years old. These accounts have very little impact on your credit score. Leave them alone.
2. Reduce the balance on your other accounts where they are no more than 30% of your credit limit.
3. Continue using just three of your accounts, but continue paying down the balance each month so that it will not exceed 30% of your credit limit. Activity on these accounts is important. Don't let these accounts become inactive.
4. Avoid opening any retail store accounts where you are tempted to get 10% off your purchase price.
5. Forget any collection accounts that are over two years old. These accounts have very little impact on your credit score. Leave them alone.
Take these steps right away and again be patient and you will see your credit score rise significantly.
Have you used any of these steps? Leave your comments below.
Have you used any of these steps? Leave your comments below.
