Lifestyle Improvement
Bad credit is not a life sentence, it's nothing more than a minor setback and we will help restore what is broken together with dedication and teamwork. It's a process and not a overnight miracle but with patience and determination we will have success!!
How Can I Change My Lifestyle?
Good news!!! Bad credit is not a life sentence, which is good news for roughly one-third of the people in this country with credit scores below 620. If your credit is damaged, there are legal steps that you can take to rebuild.
Every month the credit card issuers and lenders you have accounts with send account updates to credit bureaus. They tell the credit bureaus your current balance, payment history, and other details about your accounts. This information is compiled into your credit report and used to generate your credit score (SIGNIFYING YOUR CURRENT CREDITWORTHINESS) when it's requested by businesses and yourself.
The information sent by your creditors helps you build a positive credit history as long as your account details are positive, meaning you're making timely payments and maintaining healthy credit card balances.
It takes time to add positive information to you credit report, so don't expect it to happen overnight, or even in a few weeks. You can help the process by being financially responsible and patient with the process.
The best way to rebuild your credit score is to get a secured credit card and use it responsibly. This ensures positive information gets sent to the credit bureaus on a monthly basis. In the meantime, please be discipline and pay all bills on time and try to do whatever is possible to not get any late payments. A good practice would be to go ahead and put all bills on auto pay if you can afford it and if not setup reminders when the due date gets closer.
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You MUST be building credit when you are working on removing the negative line items off of your report . My recommendation is to have a minimum of 2 Revolving Credit Cards, 1 Installment Loan (Ex. Auto Loan) and a Revolving Line of Credit (Ex. Merchant Account) open at all times. If you have NO CREDIT AT ALL...You need to immediately open up at least 1 Secured Credit Card. The reason for this is to establish activity on your profile and to start moving in the direction away from having a thin file. Also it's not a bad idea to ask someone who you trust that's credit worthy if you can get added as an authorized user on one of there positive reporting accounts that has minimal utilization. Now that you're equipped and ready lets get to work!!
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Just remember that improving credit is a process
that takes time.