Aside from taking out a credit card, what else can rebuild a bad credit rating?
October 30th, 2008
| Tags: Credit Card, Establish Credit, Rebuild Credit
wurumi asked:
I have paid the majority (95 %) of the creditors that have put a bad mark on my credit rating. I’ve taken out a credit card, but what else can I do to re-establish my credit and make it light years better and to allow for a better rating in the near future?
Joshua
I have paid the majority (95 %) of the creditors that have put a bad mark on my credit rating. I’ve taken out a credit card, but what else can I do to re-establish my credit and make it light years better and to allow for a better rating in the near future?
Joshua
Pay your debts on time. Creditors want to see how you handle your debt, and rebuilding a bad history can take a year or two. Here is a great site on simple steps to begin this process:
always pay your bills ON TIME!!
For five years by then all of your record.
good job so far, next finish paying off the rest of the bad debt (remaining 5%) then take out a secured loan. lets say you have 1000.00 in the bank, tell the bank you want to take out a loan against it. pay it off in 6-12 months (prefferably 6). this builds your credit quickly.