How can I rebuild my credit?
The key to financial power lies in your credit rating. If you plan to get a home loan, save money and get better credit starting now!
I have bad credit too, but i am repairing it. I have been reading all the info on www.creditboards.com and found so much info and help. it is a wonderful community of willing and experienced people willing to help, and it's free! if you are serious about rebuilding, check it out!
How can I rebuild my credit?By implementing these tips you could save hundred of dollars in interest in the long run and put cash back in your pocket in the short term.
1) Avoid using cash and borrowing from family for all your purchases. In the eyes of creditors no credit history is the same as a bad credit history. You may get away with paying cash for your car but when you buy your first home it will come back to haunt you. Even if you can afford to borrow or pay cash try opening an account to buy your furniture, automobiles, or home improvements. A diverse credit background will help with your credit score.
2) Your credit report tells all. Do not lie or stretch the truth to lenders, banks, or employers. They will easily catch you and the consequences are not worth it.
3) Do not cancel credit card accounts to improve your credit. The intended affect may be the opposite of what you expect. You can hurt your credit by canceling your credit cards; especially if you have a long history with the account. Losing a ten or twenty year credit history isn't worth it. If you absolutely must stop using a card, try shredding it. An open account that doesn't have a balance looks far better then no credit account at all.
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