Having bad credit can sometimes seem like the end of the world. The good news is that there is hope for you even if you have less than perfect credit. There are many different ways to do bad credit repair. It takes a little bit of hard work and determination but can be very rewarding when you start to see your credit score rise.
In the following article we are going to give you 3 simple yet effective tips to help you with bad credit repair. These tips although they may seem like common sense are the first ones most people overlook simply because of how easy they are. When you are beginning bad credit repair you should remember these tips first and then try more advanced strategies.
Tip #1 - Order copies of your credit reports!
The first order of business in bad credit repair should be to get updated copies of your credit reports from the big three credit reporting agencies. You will want to contact Equifax, Transunion, and Experian directly to request copies of your credit reports. Doing a search in Google will return their websites if you don't have their information already. There are also other websites that you can use to get your credit reports from as well. These websites will normally retrieve all three for a cost of $20 - $60. If you have time and are patient I would suggest you just contact the credit bureaus directly.
Tip #2 - Pay off current debts on credit cards.
As you are waiting for your credit reports from the credit bureaus, you should also develop a plan to pay off as many of your credit cards as you can. The best way is to target your low balance cards with the highest interest rates. These will normally be credit cards from department stores. These normally carry the highest interest rates and should be paid off a quickly as possible.
Tip # 3 - Refrain from applying for anymore credit
The final tip we are going to discuss when you are doing bad credit repair is to refrain from applying for additional credit. If you have alot of credit already, applying for more will only hurt your credit. It doesn't matter if you are denied or approved, either way it can hurt your bad credit repair efforts. When you apply for credit, most companies place an inquiry with one or all of the credit reporting agencies. These inquires can reduce your FICO score by a few points each time. Believe it or not, these few points can mean the difference between getting approved for a new home and not.
These 3 tips are simple in nature but they are tips that most people overlook when they are attempting to repair bad credit. Keep these tips in mind as you begin your journey into bad credit repair and you will give yourself a huge head-start. Fixing your credit doesn't have to be hard as long as you keep these easy to follow tips in mind.
Mo Conley is the creator of the Fix Your Credit Tips Video ecourse where he shares 10 highly effective methods for fixing your credit. To gain FREE access to this extremely informative ecourse visit Mo's site: Fix Your Credit