How to Repair Bad Credit Fast

Gone are the days when you could get credit if you had a job and promised to pay the debt back. Now, lenders are stricter. A bad credit score can keep you from getting a loan, renting an apartment and many other things. Its also very stressful to live with financial woes. Its important to clean up a bad credit score, and you can start today. It will take some time, but some things can speed up the process.

Instructions

Rebuild Your Credit

1

The first step you should take, if you have not already, is to get a copy of your credit report. You can find one online through several different outlets. This will show you what your actual score is, and what kinds of things are bringing it down. If you are able, pay off any outstanding debts you see on the report, starting with the oldest debt. It is also possible that false data is being reflected on your report, and a credit counselor can help you fix it. Knowing exactly what your credit report says is key to fixing your credit score.

2

One of the best ways to improve a credit score is to start to pay your regular bills on time. This will reflect very well on your credit report. Pay on time for loan payments, utility payments, medical bills, credit cards and items like that. Keep accounts in good standing.

3

If you have a checking account, keep it in good standing. If you dont have one, open one right away. Keep money in the account, and never allow it to go negative. A good history with a bank will also do wonders for your credit score.

4

When you have fully paid off some of your credit cards, keep a few of them open. Having credit that is in good standing helps improve your credit score the same way credit in bad standing will hurt the score. Use the cards once a month on something like gas or groceries, so that the account is not automatically closed. Then, pay off the balance in full each month.

5

To avoid future problems, watch your spending and put yourself on a budget. Be sure that each month you are first paying off all bills and then if you have money left over you can treat yourself to something small, such as a dinner out. Do not take out more loans if you dont have to. This will only add to your debt and will reflect poorly on your report. Avoid over-spending at any cost, or you will end up right back where you started.