At the start of the credit repair process folks have a tendency to focus only on removing the bad items. Many times folks will start without any open accounts. This won't get you the results that you need to see. Thankfully this is a situation that can be fixed and we'll show you how here.
There's a widespread misconception that bad items are the main factor in figuring out your score. Actually it is just as critical to have positive current activity. To see real improvement in your credit score you ought to be reporting positive items to the credit companies every month.
So What Can You Do?
The initial step you want to take if you've got no open accounts is open one. That potentially sounds like the very last thing you should do but hear us out. While you might still be in a position to get an unsecured card your best shot could be a secured one.
So What Exactly Is a Secured Card?
A secured credit card could be a powerful credit building tool. Essentially a secured card is backed by collateral that you provide to"secure" the card. For credit building purposes it's usually a comparatively little amount of money that becomes your credit limit. This protects the creditor and enables you to create a positive revolving debt. Be sure to keep your balance low and your payments in good time.
Take Advantage of An Authorized User Account
If you've a relative with a good credit history see if they will put you on as an authorized user. This option will not be available in each scenario due to family circumstances. But if available it's a great credit building tool.
The method is so easy and you need?no qualifications. They're going to require some personal info like your social security number. The card holder simply calls the card issuer and asks to have a card sent to you for emergency purposes. Inside 2 months the card should show up on your credit report and you will benefit from their good credit practices.
While the authorized user methodology is a simple way to boost your credit score, it alone can't"fix" your credit. Building credit for yourself as well as becoming an authorized user will get you back on the inside track to great credit.
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If you need help improving your scores be so good as to check out my site on credit repair . Our top credit experts might be the answer to you credit issues.
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