How do I Repair my Credit Rating?
Apr 19th, 2008 02:06
Taksh Verdhan, Sakir Ali, Ivan Rimsky, Poul Halds, http://www.halds.com/category/credit-repair/, http://www.creditcardmix.com
Now, if you're convinced already about the merits of credit repair and
just wondering what steps would you need to take to fix bad credit,
here is what you must do then.
The first step to take on the board is approaching credit bureaus or
agencies and asking for a copy of your credit report. A credit report
shall cost you some dollars but don't think much of the fee because
this is truly a necessary step to take – in fact, I wouldn't ask you
to do anything unless it's needed.
However, if you only want to stick with the minimum, you could simply
take a copy of your credit reports from any of the three major credit
bureaus in the country – Equifax, Experian and TransUnion – but I
truly advise you to take at least a copy from each credit bureau. A
lot of finance companies after all base their decisions on the ratings
given by the three major credit bureaus. Some would choose one of the
three or take the average.
Amounts owed and payment history make up around 65% of your credit
rating. As a general rule for keeping your credit score high and
credit history in good condition, one should always make payments on
time and try to keep his credit card balance under 30% (or even 10%)
of his or her credit line. (Learn more about factors that count when
credit institutions calculate your credit card score in Credit Card
Education sections of http://www.creditcardmix.com/credit-card-pages/)
More to follow...