how do i begin to repair my credit?whats the first thing i s

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kuturalee

Joined: 15 Aug 2009
kuturalee's page
Posts: 1

28 Magic Points

Subject: how do i begin to repair my credit?whats the first thing i s

Sat Aug 15, 2009 1:47 am

my credit score is in the mid 400s.im about to start a new career as a liscensed practical nurse.id like to be able to qualify for a new home and auto purchase within a 2 year period.my credit is bad and id like to improve it for employment options as well.

goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 4007

1224 Magic Points

Wed Sep 09, 2009 10:16 am

First thing you should do is pull your credit report from all three agencies so that you know what you have to fix and then set a goal to do it.

Examine the reports and see if there are any discrepancies on it, if there are then file disputes on them so you can get those taken care of.

In addition to this you need to keep all open accounts current to establish a good payment history. If you have no current accounts then open a small account, make a purchase and make payments to show a credit history and good payment history.

I am sure that others will come along soon with more advice, hang in there and goodluck.

carol

Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California

29592 Magic Points

Wed Sep 09, 2009 11:28 am

I agree with goodnatured. Welcome back and it is nice to see you back in the community again Smile

About improving credit score remember kuturalee that using a credit card wisely is of utter importance. I would advise you to keep balances low on your credit card balance low. High outstanding debts have adverse effect on your report. If you have revolving credit, it would be best to pay it off. It is the best and most effective way to improve your credit.

It would also be unnecessary to get new credit cards that you don't need just to improve your credit. If you do open new accounts, be responsible with your spending habits and pay on time. Do not default on any payments. Being responsible and paying in time will raise your score in time.
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