How to Improve My Credit – Tips to Improve Your Improve Credit Rating Quickly

Darin Sewell asked:

Need To Improve Your Credit Rating Quickly?

Bad credit can affect many aspects of your life and in ways you never thought possible. Aside from just being used by banks and lenders it is now being used by auto insurance companies and many employers as well. This is why it is important to get you credit rating improved quickly.

How Can I Improve My Credit Rating Quickly

There are a few things that you can do that will have a quick positive affect on your FICO scores that are easy to do but keep in mind that to actually improve your credit the right way it will take some time.

Secured Credit Cards – If you need some good trade lines on your credit report a secured credit card is probably the best way to get this done. These cards are secured by money that you give to the lender and they hold in a escrow account. If you fail to make your payments they get the money. Pay on time however and they will report just like a normal charge account does and have a positive affect on your scores within 30 days. As long as you do not default on your account you will get your money back if you cancel.

Negotiate Current Collections – Many times people have open collection accounts on the credit reports that are dragging their scores down. If these accounts are older you can ask the collection company to remove them from your report if you pay them off. If they agree ask them to settle for a lesser amount. They may or may not agree but if the account is old enough your chances increase, start at 50% of the balance owed and work from there. Just remember to get the offer in writing before you send them a check and never give them a checking account number or credit card number always send the check in buy mail!

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