A Checklist For Repairing My Credit Score
Monday, April 27th, 2009
If you have poor credit and want to do something about it, it’s usually just a simple matter of following a specific step-by-step procedure that will ensure a relatively quick and hassle-free improvement in your credit score. But it is important to have a plan in place and not just get your current credit report and start making phone calls to the company’s have reported derogatory entries. Here’s a simple checklist for how to improve credit score:
1. Request your free copy of your current credit for. Federal law mandates that every person is entitled to one free copy of their credit report from each of the three major credit reporting agencies each year. Take advantage of this and stay current with what is on their credit report. This way you can be proactive and quickly remove any items any accuracies (which are more common than you think).
2. Get a “big picture” view of the credit repair process by buying a credit repair guide and reading through it thoroughly. There are several guides available, and one in particular called “Credit Secrets Bible” is probably the most popular one. It is written by experts in the credit repair business. The step-by-step instructions in this guide show you clearly how to analyze your credit report and fix those items on it that are adversely affecting your credit score.
3. Avoid companies that make promises of improving your credit score for a fee. There’s nothing that these companies can do that you can’t do yourself as long as you have the proper knowledge. You can easily obtain this knowledge by using a guidebook such as the “Credit Secrets Bible” guidebook mentioned above. The vast majority of companies that claim they will improve your credit score by a certain amount basically are preying on individuals either don’t want to take the time and effort to improve your credit score or think they have a choice because the system is overly complicated and they would never be able to understand it. These assumptions are both erroneous.
4. Once you are armed with your credit report and a good guidebook on how to analyze and start to improve your credit score, take action. The first time you go through this process it may be a fair amount of work if your credit score is low and you haven’t ever gone through the process before. These days, a “low” credit score is anything below 600.
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It does you no good to get your credit report, in a guidebook, and then do nothing with it. So be sure you are ready to put some effort into this because in the long run it will be well worth the time you spent on and if you do it each year the entire process shouldn’t take more than a few hours.
The above four simple steps should keep your credit score stable and allow you to take advantage of more attractive interest rates, or even get loans that others can’t get, because of their poor credit scores. So remember, repairing your credit score is not difficult process just takes the test of time and effort but will pay off big dividends with your ability to borrow money attractive interest rates.
Tags: how to improve credit score, how to repair bad credit
