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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...