Go Back To Search Results Question what's the best way to repair bad credit? So my credit is at 525 right now. I know what affected me a lot is that I got a macy's card a few years back and I didn't pay it. The account got closed and I recently payed it off. They say you shouldn't close your accounts to just start paying on time but my account got closed. Which means I they would have to re-run my credit. I know I do not qualify for one anymore. Is the fact that I paid the debt even though it was closed help my credit score? How can I rebuild y credit if I can't even qualify for a credit card? The only thing that I have is my car which is under my dad's name and mine also. I have a line with verizon under my name. But that's not enough. Any suggestions? By 6374girl Posted on 05/09/10 Total Answers 1 Answers- At this point in time... you need a secured credit card. Save up some money and ask your bank about their secured credit card program. Make sure that all payments on that card are reported to all three credit bureaus.. Example: You give them $500 in collateral and they give you a real credit card with a $500 limit. (no.... your money is not used to load the card it is held by the bank in case you do a repeat of the Macy's card disaster and not pay your bills). Use that card to build your credit back up. That means you make one charge a month for just $50 and then pay that in full when the bill comes. Do this for one year and your credit score will have improved. Within 1 to 2 years the bank should agree to change the card to an unsecured card and give you back your collateral. Answer by : Reena On Date 2010-05-09 21:07:11 Paying off your deliquent debt should help your credit score; however, negative items will still remain on your credit report for up to seven years. You'll want to take other steps to build up your credit, like these: http://moneygirl.quickanddirtytips.com/how-to-build-credit.aspx. Answer by : Money Girl's Quick and Dirty Tips On Date 2010-05-10 03:50:02   Go Back To Search Results