What is the easiest way to build credit if you have bad credit already?
mebeksis asked:
Assume that any and all black marks on credit history have been taken care of already and I just want to start rebuilding my credit. I’ve tried getting credit cards to use on my normal monthly bills but no go.
Assume that any and all black marks on credit history have been taken care of already and I just want to start rebuilding my credit. I’ve tried getting credit cards to use on my normal monthly bills but no go.
The best way to start is by going to your bank and getting a pre paid credit card or a cd loan.
Apply for a Secured Credit Card
Apply for a Small Loan or Credit Card with a Co-Signer
you can take $500 and give it to your bank..and they make a credit card for you…then you purchase things with that card and pay it off…for a long time…increase the $500 if you can and eventually if you show good payment history they will take off the hold and give you your money…then you keep paying your payments never ever be late…and then in a year apply for a $1000 loan at your bank…and let them keep the money…you pay off the loan…and that will start a new credit history…heed my words….dont ever …be LATE!
The best way I found to restore credit is to borrow funds just to hold them on deposit, make some interest payments, then give back the deposit to pay off the loan. this way I’m not using my own money. If you agree to just hold the funds on deposit, will let you borrow the funds with NO CREDIT CHECK. After three my score went up on a few bureaus, and I didn’t have to buy Secured Credit Card and wait 1 1/2 for it to report
Get a secured credit card for as much as you can and keep it in tip top condition. Use it sparing and only for nominal amounts. Say like $50 and pay it in full. Don’t use more than 10% of your limit and don’t EVER default on payments. Just use it every few months when you HAVE cash. You actually need to use the card so that you establish a good payment pattern. Save as much money as you can as repairing credit a sure but slow process. In the even that your credit score isn’t great but you need to buy something, the more money you can put down the better ie) house, car
Good luck!
can help you fix your credit report.
the black marks are taken cared of… but is it still on record? well its not that easy to build credit if you have bad or no credit… but when you are virtually building from scratch, you have to start somewhere… let me mention a few, one is getting a credit card, but make sure to handle it more wisely… you can open a savings/checking account to show stability… or you can also get a loan… getting these can be quite hard, but there are companies that offer these even if you have bad credit… once you have made a decision, just monitor you finances closely, and good luck..
You can pick up other kinds of credit cards like store credit cards and student credit cards. Unfortunately they’re not the best cards to have, but using them to build credit is better than nothing.
Pay your bills on time. Apply for credit card for people with bad credit or a secured card.
You can use credit repair agency to fix it - for example this one - - They can clean lots of such bad stuff from your credit report - and do it much faster than yourself, so your credit will go up fast.