Tips For Repairing Credit printable pdf download

Tips For Repairing Credit

Tips for Repairing

Credit

Everyone’s path to better credit will vary depending on their specific credit issues. But below are

some steps that everyone can take to help improve their credit standing.

 Pinpoint Your Credit Score Killers

Based on the Credit Score Pie Chart that was handed out, you can identify which factors have

the greatest impact on your credit score. For example, payment history makes up 35% of your

credit score. Once you begin making payments on time, you will see an improvement in your

score.

 Clean Up Your Credit Report

Review your credit report yearly and check for errors. If you spot something, start the dispute

process as soon as possible. Credit reporting agencies have 30 days to respond back to you.

 Start Building Your Positive Credit

You may have been denied one kind of credit, but that doesn’t mean you’re shut out entirely.

If your payment history, credit use, or mix of accounts is hurting your scores, opening new

credit can help you rebuild faster. There are credit cards specifically designed to help people

who’ve suffered credit problems fix their credit — they’re called secured credit cards. These

cards require a deposit that generally will serve as your credit limit. If you don’t pay your bills,

the card company can then withdraw money from that deposit. If you open one of these cards,

it’s important to make on-time payments. Just because you have a card with a $500 limit

doesn’t mean you should charge $400 on it — that can hurt your score and hinder your efforts

to repair your credit.

Adapted from

Tips For Repairing Credit