Just wondering how to establish credit and repair your bad credit ?? No problem, we have got the solution for this. lets discuss how to establish credit and repair bad credit
For knowledge of your credit condition check & maintain your credit report . You can have a free copy of credit report every year under the Act of fair credit report . You can get report from Equifax, Experian & Trans Union when you ask annul credit report for order .
While checking the credit report you found there are some mistakes then you will be eligible to file case on credit bureau To maintain the credit , check credit report regularly .
If you want to arrange the debt with creditors meet them face to face . To have clean chit credit report , you have to do a settlement with creditor directly. while doing the process of settlement ignore paying third parties or collection agencies .Also send a requesting letter to creditor to finish the debt which is mentioned in report .
At the time of applying the credit card do not apply at one time for multiple credit cards . You can suppose to initialize with upper rate of interest with lesser credit limit to save your account as these types of card with bad or no credits are available.
If you are not eligible for a credit card or other line of credit someone other can co-sign .Sometimes the creditor will not take any risk of extended credit to those who have no credit & bad credit .The lender of your credit & account become safe & your credit builds up with having a co sign with adequate credit .
Pay your all credit card payment on time according to FICO , your payment history will help to build up 35 % of credit score .Beware from expensive interest charges in each month, give your all due balances. You will expose good credit utilization by giving the total balance . In this way you will get the 30 % of your marks .
For having another line of credit , apply for it . There is also effect on your credit report like which type of credit you have .Your marks become down if you have many credits .If you target to have mixture card credit , installment loans & circiling account , you have to pay all the payment on all account on time . It is better that the newerlines of credit come on credit report rather than older accounts .