How can I fix my credit quickly?
Is there any way to repair my credit rating faster than just waiting for my bad marks to disappear in so many years?
Public Comments
- One great way to repair or build credit fast is to get a secured VISA or MasterCard. A secured credit card is one in which you open up a savings account with the card issuing bank. This savings account is used as a security deposit for your credit card. Your credit limit is based on the amount that you deposit into the savings account. Once you have established a good record of payments on the credit card, the savings account funds are returned to you. Only use this secured credit card for gas or a few small purchases each month. When you get your bill, pay it immediately but overpay it by about $10 - $15. That way you always have a negative balance. The FICO system accelerates your credit rating quickly by doing this. Just make sure that you NEVER are late on making that payment. This method worked very well for me when I had very bad credit. After receiving my secured credit card, it took about 8 months before I was receiving pre-approved non secured VISA and MasterCard offers from large banks. There are lot's of great tips on this webpage..... http://fixingyourcredit.blogspot.com _____________
- walk into your bank and ask for help,they will renogiate your debt into a new loan,you will destroy your credit cards
- There are no quick fixes in credit repair. It takes time and lots of patience. Orchard bank has secured cards to help you build credit. For a good non secured card, try Tribute mastercard. They have a high approval rate for those with less than great credit.
- Credit repair takes time. Go to www.creditboards.com/forums It will teach you how to rebuild/repair your credit for free.
- To Repair credit score Your credit score is based mostly on: 1. Length of credit history 2. Payment history. 3. Ratio of credit used to available credit. 4. Number of credit inquiries you authorized. If you cancel your card, you'll be hurting your credit ratio. (#3). You want to deliberately keep your oldest credit card open, even if you never use it. You want to always pay the minimums of each loan on time every month. You want to keep your available credit high, but actually only have balances equalinig 25% or less. You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans. You do these things and your credit score will quickly soar into the 700s. ------------------------------------------------- http://www.bestcreditrates.net
* Some answers may have been provided by Yahoo! Answers.