Self Help to Fix Credit and How to Repair Bad Credit Now

Repairing your bad credit can be done by you. Many people feel they cannot repair bad credit without the help of experts or agencies, but this is not true. Every individual has the ability to do anything a credit repair agency can do. With time and consistent effort you can restore your credit rating. Most credit repair techniques take time to see positive results, but there is one method where you can see an immediate improvement to your credit report and score.

Instructions

1

Look at your credit card statements to determine the amount you have charged and the credit limit. Make a note of how much 30 percent of your credit limit is. According to myfico.com, your credit utilization accounts for a full 30 percent of your credit score. Credit utilization is the amount you have charged in relation to your credit limit. To find out what 30 percent is, multiply the credit limit by .30.

2

Call the customer service number for each credit card company for which you have a credit card. Find out what day your account is reported to the credit agencies. Make note of this date for each account. The date will be different for each creditor.

3

Look at your finances and determine how much you can pay down on each account. Strive to pay as much as possible. The goal will be to make each balance under 30 percent of the credit card limit. Your credit score will improve more and more the closer you get to having your balances under 30 percent.

4

Make your payments three to five days before the creditor reports your account to the credit agency. This allows the creditor enough time to receive and post your payment before the reporting date. Your credit score will rise the same day the creditor reports the new lower balance.