Improve Less Than Perfect Credit Score and Repair Credit Card Debt
Article by New Credit Applications
Improve your credit score by repairing credit card debt even if you have less than perfect credit. Alleviating credit card debt is the best way to repair your credit score and improve your less than perfect credit. Once your credit card debt is repaired your credit score will improve thus allowing you to once again obtain new credit cards and receive instant approval online.
There are five simple steps to improve less than perfect credit by repairing your credit card debt. Following these simple steps to repair credit card debt can improve your credit score by nearly a 100 points.
The first step to improve your less than perfect credit score and repair credit card debt is to obtain a copy of your credit report. Pull your credit report from all three bureaus to see what is negatively impacting your credit score. You can obtain a free credit report annually from http://www.annualcreditreport.com.
The 2nd step is to reduce the number of credit collection accounts that are negatively impacting your credit score. These negative credit marks will hurt your chances of obtaining a new credit card. After reviewing your credit report write a dispute letter to each credit card bureau (Experian, TransUnion, and Equifax) via certified mail. Dispute every credit collection or negative credit card account that is listed on your credit report even if the account are in fact legitimate. Credit card companies and creditors have 30 days to respond to the bureaus to state that the negative items are in fact owed by you. If they do not respond they have to drop the negative credit accounts or collection items from your credit report thereby improving your less than perfect credit almost instantly. It’s also best to send in dispute letters during holiday months when they are understaffed and overworked. You can also request that any old accounts (older than 7 years) be removed from your credit report. They have to do this by law, but don’t have your oldest credit card account removed if it’s not negatively affecting your credit score. The longer you have established credit the higher your credit score will be. This ultimately will improve your less than perfect credit by boosting your credit score significantly. Most people experience a 100 point increase in their credit report from this step alone.
The 3rd and most important step in repairing your credit card debt is to establish two new lines of credit instantly. There are several new credit cards to choose from with different perks and APR’s. You can compare new credit cards and complete a new credit card application online http://EasyCreditApp.NewCreditApplications.com/ for instant approval on most applicants. Applying for new credit can initially lower your score by just a few point due to the number of inquiries that post to your credit report so only apply for credit cards that you have a better chance of obtaining. You can start with a prepaid visa that has a built in credit builder program designed for people with poor credit.
The 4th step in repairing less than perfect credit is to maintain a good standing with the new lines of credit you recently obtained from New Credit Applications. As a rule of thumb its best not to purchase anything on credit that you will not have when the credit card statement arrives or only charge something that you pay each month anyway like your electric bill. Charge it and then pay it off as soon as the bill arrives. Don’t use your new credit cards for anything else. Put them in a drawer and forget about them. Remember the key is to keep them in good standing not to charge things that you cannot afford or that you will not be able to pay for in full when the bill comes in. Learning responsibility can also play a key role in repairing your credit card debt. Which most of us learned the hard way and believe that once we are able to get a second chance we will look at credit in a whole new way.
The 5th and final step is to routinely monitor your credit report and credit score. Your FICO score is the most important number that your creditors see when deciding your credit worthiness. My personal favorite is http://www.myfico.com for the best score watch system that is available today. You can also obtain your score for free at http://www.creditkarma.com, but it varies from the official FICO credit score.
New Credit Applications is committed to helping those who don’t have a credit card or who have had credit lines taken away in the past. Easily apply online for instant approval for the credit card that most fits your needs!
You may also be interested in WalletHub, which recently became the first and only website to offer free credit scores and full credit reports that are updated on a daily basis.
Improve Credit Score
Are you having problems with your credit score? Do you want to know how you can improve? Do you want to learn ways you can raise your credit score?
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Your Credit Score, Your Money & What’s at Stake (Updated Edition): How to Improve the 3-Digit Number that Shapes Your Financial Future
Your Credit Score, Your Money & What’s at Stake (Updated Edition): How to Improve the 3-Digit Number that Shapes Your Financial Future
“A great credit score can help you finish rich! Liz Pulliam Weston gives solid, easy-to-understand advice about how to improve your credit fast. Read this book and prosper.”
David Bach, bestselling author of The Automatic Millionaire and The Automatic Millionaire Homeowner
“Excellent book! Insightful, well written, and surprisingly interesting. Liz Pulliam Weston has done an outstanding job demystifying an often intimidating and frustrating topic for the benefit of all consumers.”
Eric Tyson, syndicated columnist and bestselling author of Personal Finance for Dummies
“No one makes complex financial information easy to understand like Liz Pulliam Weston. Her straight-talk and wise advice are invaluable to anyone with a credit card or check book–and that’s just about all of us.”
Lois P. Frankel, Ph.D., author of Nice Girls Don’t Get the Corner Office and Nice Girls Don’t Get Rich
“In a country where consumers increasingly pay more when they have bad credit, Liz Pulliam Weston’s book provides excellent tips and advice on ways to improve your credit history and raise your credit score. If you just apply one or two of her insightful suggestions, you’ll save many times the cost of this book.”
Ilyce R. Glink, financial reporter, talk show host, and bestselling author of 100 Questions Every First-Time Home Buyer Should Ask
“Your credit score can save you money or cost you money–sometimes a lot of money. Yet, most people don’t even know their scores, much less know how to make them better. Liz Pulliam Weston can help you fix that. In this easy-to-understand guide you’ll learn how to make sure your score helps you get the best deal on loans and insurance. You can’t afford not to read it.”
Gerri Detweiler, consumer advocate and founder of UltimateCredit.com
The #1 Best-Selling Guide to Improving Your Credit Score…
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In post-crash America, it’s tough to get credit…and even tougher to get rates and terms you can afford. That makes your credit score more important than ever before. Now, MSN Money/L.A. Times personal finance columnist Liz Pulliam Weston has updated her best-selling book on credit scores to show how you can maximize your score right now–and save yourself a fortune!
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How to Improve Your Credit Score
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Categories: Credit Score Videos Tags: Credit, Improve, Score
5 Quick Ways to Improve your Credit Score Rating
Article by Check My Credit Report For Free
Your credit score rating is one of your biggest financial assets. If your credit score rating is high, your borrowing rates will be lowered and therefore save you hundreds of dollars. The big mystery is how to maintain a high credit score rating. If you want to either maintain, improve or repair your credit score rating, you are in luck; it can take as little as two months to raise your credit score rating.
Your credit score rating is based on a few essential factors. There is no particular order in which I will present these (Some of them have more importance in regards to the score). Repayment history, current debts & loan payments owed, recent credit checks & registered income (there are other things to consider as well). In order to repair or raise your score you may follow a few of the steps provided below.
1.) Pay Off Credit Debts
Pay off all revolving credit cards debt as soon as you can. Revolving credit cards are like Discover card or any other monthly credit cards. Even though you might pay before the deadline, credit card companies report the debts owed on a monthly basis which may be before the deadline. On your credit score rating it will not show as bad debt, but it will decrease your overall score. The standard recommendations are as follows. If you have one credit card, pay it off before the months end. Second, if you have two credit cards, pay the minimum on both of them and work on paying in full one of them first.
2.) Registered Income
This is your official salary from work. Basically the numbers they crunch are matched with what you earn. If you debts is larger than what you earn, your credit score rating is lowered. So, if you are an independent contractor or your income is just a little too low get a part time job. This will rise your potential earnings and increase your ability to repay your debts and therefore increase your credit score rating.
3.) Check Credit Score Rating
Check your credit score rating online with one of the official companies to see what or why your credit score rating is the level it is. This will help you determine what you can really do to increase your credit score rating. Being able to see all your credit report information and also having the tools to make the most from it.
4.) Credit Applications
Do not apply for every car, credit card, and home that you are looking at as an eager consumer. Because every time you try to purchase a home, car, or get a new credit card your credit score rating is checked and the crediting agencies lower your score if you have had two or three credit checks withing a few months of each other.
5.) Save Money
Lastly, open a savings account and budget your money so that you will always have extra cash to help in times of need. This is most times easier said than done, so it is important to dedicate to making sure you do this.
Protect your credit score rating because it can mean everything when purchasing a home or trying to get some capital for whatever purpose you need it for. It is not hard to raise your credit score rating, it is hard to maintain it.
If you can purchase a credit score rating monitoring service, it will protect you from fraud, identity theft and help inform you of ways to increase your credit score rating when needed. Get the most out of you credit with a good credit report score rating.
For more credit repair & credit score rating advices, please visit: Check My Credit Report For Free
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