Credit is a necessary tool for many people’s day-to-day lives. Good credit allows for many advantages that we sometimes take for granted: credit cards, the ability to rent an apartment, qualifying for financing or a car loan, and thats just the beginning. If you fall behind in payments towards a creditor, each incident will be reported to your credit bureau, end up reflecting badly in your credit rating, and make the credit-dependent activities above difficult If not impossible. If you have a poor credit rating, steps to repair it should begin as soon as possible.
Credit repair is not a quick process, and requires you to build a better rating over time. Here are some steps to get you started:
1. Add Accounts to your Credit Report.
If you apply for credit and are denied, you should immediately get a copy of your credit report from the credit bureau who denied you. When you receive the report, examine it closely for any errors. If the report reflects no errors, you may realize that the only reason your credit rating is “poor,” is because you don’t have enough credit history to give you a good rating.
Some types of credit, like...