How to Remove Bad Credit Fast

By taking specific steps you can fix a bad credit score fast and be on the road toward a good rating. Higher credit ratings are advantageous for several reasons. For starters, applicants with a good credit score often receive the best rates on car loans and mortgages. What's more, insurance companies and employers in the finance industry often review a candidate's credit score before issuing a policy or offering a position. Thus it's wise for responsible adults to maintain a good credit rating.

Instructions

1

Work to keep late payments and past due notices off your credit report. Write down due dates and pay bills on time each month to keep a good payment history with your creditors and raise a bad credit score. Payment history makes up 35 percent of your credit score.

2

Bring down your credit card balances. A significant gap between your credit limit and actual balance on credit cards helps your score. The more you owe, the lower your credit rating. Reduce balances and keep them well below your credit limit. Charge no more than 30 percent of your credit limit.

3

Discuss collection accounts and charge-offs with your creditors. Negative remarks can stay on your report for seven years and potentially reduce your rating during this period. Speak with your creditors to see if they'll accept a settlement or perhaps negotiate a monthly payment arrange. Ask creditors to remove the remark and report the account "as paid" upon receipt of the last payment.

4

Get your credit report. Stay alert to changes reflected on your credit report and challenge any errors or mistakes made by creditors. Order your report online once a year from Annual Credit Report. Take advantage of credit report monitoring services to catch signs of identity theft early.