How to Repair and Rebuild My Credit Score

Quickly repairing or rebuilding your credit score opens the door to better interest rates on auto loans, mortgages and your credit cards. Different factors can lower your credit rating, such as a bankruptcy, foreclosure or poor habits. However, with responsible changes, you can repair and rebuild your credit score.

Instructions

1

Lengthen your credit history to help repair your score. Few credit accounts and a short credit history often result in a lower score. Find someone with a lengthy, good credit history and put your name on one of their older credit cards as an authorized user. This account will then appear on your credit report and help your score.

2

Organize monthly statements as they arrive and pay early to improve payment history. A habit of paying your bills before they're due can improve your credit rating and help you get financing in the future.

3

Use cash instead of credit cards to make purchases. An occasional purchase with a credit card is okay. Do not get into the habit of paying for everything with credit, especially if you're unable to pay off the balance each month.

4

Address credit report issues. Do not disregard errors or mistakes on your credit file. Get your report each year (through the website Annual Credit Report) and notify creditors of any mistakes. An unknown account listed on your report and outdated information can bring down your score.

5

Boost credit with rapid rescoring. If you need a quick credit score increase to qualify for a loan, talk to your creditor about rapid rescoring. If there's an error on your report, or if you decide to pay off a high balance credit card, you can pay your creditor a $50 fee, wherein they agree to update your credit report within three days.