Do’s & Don’ts Of Credit Repair

If you’re stuck with bad credit, there are some ways to improve it but also some ways you can decrease your score, so we show you here some do’s and don’ts of credit repair, these simple ideas can help you get started.

Do’s

Review your report and dispute errors:  Errors on your credit report can be common but they can cause your credit score to be lower than it should be. Read how to dispute credit report errors.

Obtain a copy of your report:  You can get a free copy on any of the credit bureaus, this will help you see your current debts and the steps you need to take to improve them.

Open checking and savings accounts:  Having these accounts in place can be favorable to you because lenders usually inquire about such accounts for any credit application.

Research the right card for you:  There are many types of cards that won’t favor your current situation but you need to check the different standards for a credit card with lending profiles fit for you, for example here  www.creditcards.com

Pay your bills on time:  This one is one of the first steps you need to take to improve your credit score, you have to budget and plan your expenses and payments to continually pay bills on time and improve your score. Learn how to improve your credit score.

Don’ts

Don’t apply for too much credit:  Having a lot of credit inquiries can hurt your score even more. Applying for a credit creates a hard inquiry on your credit report and too many hard inquiries impact your credit score. Hard inquiries will remain on your report for two years.

Don’t expect a quick fix:  Be patient, to improve your credit score you need time and discipline but it will pay off in a couple of months, trust us!

Don’t expect your error dispute resolved quickly:  As you can imagine this is not a fast fix, the disputed items need to be investigated and verified with the furnisher and it takes around 30 days.