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is it possible repair bad credit?
by buying from rent a center and fingerhut
By
mattthomas992003
Posted on
11/16/09 Total Answers
4
Answers-
Not really.
You repair bad credit by doing three things.
1. Have a lot of available credit. (Means banks are willing to lend to you, but you have not borrow the money.)
2. Have a car loan or house loan where you have to make monthly payments. This helps establish a long history of on-time payment. (Of course, if you are late, then defeats the purpose.)
3. Have little debt compare to the credit line. (For instance, your credit card has $3,000 limit. Just use up to $300 of the credit and not much more. Use other credit cards when you reach $300. Never exceed 10% of any credit card. If 10% is too little, then do 20%. Don't max out any cards while leaving other cards with $0 balance.)
Answer by :
nthamoeboid On Date
2009-11-16 22:04:18
Hi Mathhom, I only have an e-book that can be of help to you. Please send me a personal mail I will be of help as regard the necessary information.
Cheers!
Answer by :
babasho On Date
2009-11-17 04:13:25
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.
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http://www.bestcreditrates.net
Answer by :
Jon On Date
2009-11-17 19:35:25
Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service - creditreport.imess.net
