Rebuild Your Credit the Right Way the First Time

If you are one of the millions of people out there with bad credit you need to step up and start doing something to get yourself back into credits good graces. Having good credit is the only way to assure that you will get the best interest rates on any loans and credit cards that you apply for. If you have bad credit you may not even get approved, then what? If you applied for a loan it was probably for a good reason, if you don't get what on earth will you do?

If you need to establish good credit here are some tips to help you succeed the first time out:

Get a copy of your credit report

Once you receive a copy of your credit report be sure to check it over carefully for any errors or omissions. If you see any at all, no matter how small they may seem, inform your creditors immediately. Give them a call first and then follow up with a letter. They will have thirty days from the time they receive your letter to get the problem fixed.

Lessen the number of credit cards that you carry

The fewer cards you have in your wallet the less money you will be tempted to spend.

For the love of green grass, pay your bills on time, every monthIf you don't pay your bills (electricity, heating, etc.) on time this negative behavior will be put onto your credit report. This report is how creditors decide whether you are responsible enough to handle more credit or a loan.

Make your credit card payments on time

Just like with your ills, if you don't make your payments it will be added to your credit report bringing down your credit score. You should always try to pay more than your minimum monthly payments if you can. This will help you to start chipping away at the principal debt, lowering the interest you have to pay each month.

If you are so far in debt that you cannot see a way out there are people and services that can help you. Get in touch with a reputable credit counseling service and see what they can do for you. Just be sure to check them out with your local Better Business Bureau first. There are many of these services out there that are just out to get your money from you and you don't want to get sucked into one of these scams.

Rebuilding your credit is certainly possible, all you need to do is decide that it is something you are willing to buckle down and do. Then go for it.

Martin Lukac, represents, #1 Loans USA, a finance web-company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more: http://www.1LoansUSA.com

More Resources

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Credit Information:

Related Articles

Tired Of Being Broke?...Learn How To Force Banks To Give You Money!
Imagine..
What Are the Most Common Ways to Commit Identity Theft or Fraud?
It's the number one source of consumer complaints at the Federal Trade Commission (FTC), and unfortunately, it's one of the simplest crimes to commit. Identity theft involves information from your daily life, from shopping, bill-paying, and even applying for a job.
Like It Or Not, You Have A Score To Settle!
Like It Or Not, You Have A Score To Settle! (Part 1 of 2 on Credit Scoring)Just when most people finish with school and can stop worrying about test scores, there's a new kind of scoring that enters the picture. It's called credit scoring.
My Credit Card Application Was Rejected! Now What?!?
No doubt, you've probably gotten literally hundreds of credit card applications in the mail and online, and each and every one of them has said that you've been "Pre-Approved".Of course it's natural that this would lead us to believe that the application process is simply a formality.
How You Can Help Prevent Identity Theft
How can I prevent Identity theft from happening to me? Never leave your receipt or slip in the ATM or gas pump. Pay attention to your habits, lock up or organize and file your bills, and bank statements.
Winning The Credit Game!
Everywhere we go, the word credit can be found, shining huge dollar signs in front of our very eyes. Everyday we receive solicitation and promotions offering us credit.
Reward Credit Cards: Get the Best Rewards Card Incentive Program
A good credit reward card can contribute to your retirement account, offer gas rebates, score theme-park or vacation tickets or take thousands off theprice of your next auto purchase. Rewards at hotels, airlines, and retailers bring more to the possibilities but, adds to the confusion.
Warning: Free Credit Report Imposter Websites Springing Up on the Web
A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer credit reporting companies to provide consumers with a free copy of their credit report, upon request, once every 12 months.Access to the free credit reports has been phased in beginning last December in the West and will finally be nationwide by 1 September.
Credit Report - How Your Credit Score is Determined
Most consumers are aware that they have something known as a credit report that is used to determine whether or not they would qualify for a loan. Fewer are familiar with the FICO score, a creation of the Fair, Isaac, and Co.
What Does Your Credit Say About You?
A credit report is more than just a snapshot of your financial picture; it can assist credit grantors in determining your overall risk factor. Additionally, lenders, credit grantors, and even human resource departments often use it as a tool to determine a person's character.
Figuring Out the Ever Nebulous Numbers Called Credit Scores
Credit Score FactorsThe information contained on our credit reports affect every aspect of our lives; including employment, insurance, and even interest rates (mortgage, credit cards, automobiles, etc.).
Credit Repair Myths and Facts
There are no secrets to repairing your credit. Many shady credit repair agencies would love you to think the contrary.
Credit Counseling: Is it Really Necessary?
Not everyone has a positive experience with credit counseling. Potential creditors often frown upon consumers who are going through credit counseling, denying them credit or sticking them with elevated interest rates on new lines of credit.
Credit and Loan Help for Mortgage Loans
Mortgage loans are some of the most difficult loans to receive if you havebad credit because lenders focus heavily on your credit score and historyof making payments on time. However, there is credit and loan help forindividuals interested in home mortgage loans.
New Credit Scoring Model Could Help Millions
Mark and Beth, a young married couple in their twenties, established a goal to buy a home within the first three years of their marriage before starting a family. They budgeted and used their money wisely in order to save for the down payment.
Top 7 Factors to Consider While Reviewing Credit Card Offers
Credit cards have migrated from being hip or convenience product into a must have entity for everybody. Shopping Online you need a credit card.
How To Get a Low Interest Credit Card
Consumers often have the first credit card that they ever applied for, never really analizing how the interest rate affects their payments, but many other options exist and can help consumers decrease their payments and achieve financial stability.With interest rates on some credit cards rising to over 23%, even low balance credit card debt can be crippling.
Your Consumer Rights
If you have ever fallen behind on your debts you already know that dealing with your creditors can be a hassle. Sometimes it can be downright humiliating.
Credit Establishment 101
There will come a day when you need credit. You may want to buy a home or a car and your credit rating will become very important to help make these dreams come true.
Understanding Credit Card Penalties
Because most of us have one or two credit cards and we use them every day, understanding credit card penalties and fees is a significant issue since one time or another we have paid a penalty for some reason. Every user of a credit card must first understand that every charge on the credit card represent a loan which must be repaid.