If you really want to build your credit in less to less time and want to stay financially secured having good credit line. follow the few steps and hopefully you can either repair your credit or you can build your credit in no time.
1. Everytime Pay on time : if you will pay your credit card bills utility bills ontime, it will help your to make a good credit history. so if you pay on time it will help you alot. Make sure you double check the due date of bills every time your bills arrive. Adopt to pay online to avoid delay in mails. you can have signups on various sites for alers for your bills so that you wont get late for paying bills. If you have to pay alot of bills, you can get your bills paid automatically by setting the auto pay on your bank site or various sites which gives this free service and help you in paying bills on time.
2 .Borrow Money, but too much is not good : Ok, if you wont borrow money from bank or somewhere else, how lenders would know your repayment habits ?? when various stores sell you something on credit, that is actual time you can show how good you are in paying the instalments. so you have to pay the payments on time so that it get noted on your repayment history. Make enough budget to your keep your credit card so that you can pay your bills other loan payments on time — it should not include your rent or your mortgage—at almost less than 20 percent in total of your net monthly income
You should Stay within your total credit line, and should avoid using the full amount of your available credit. if you go out of your maximum limit of your credit cards limit, it can make trouble while the repayment of your credit card bills.
3. Make a habit to Pay more than total Minimum payment : well.. thats really important, for example if your total minimum payment is $50, you should pay $75 and see how quick your habit of making minimum payment can be noticed in your history and can raise your credit in few weeks. you can make some good strategies to keep your debt under control. lets discuss it in quick minute. If your Pay your total balance in full each month, it will help you to minimize interest charges or no charges if paid total at once.
For for instance, If you are not able to pay in full amount, you should pay as much as you can. And If sometime money is tight, you should try to pay the total amount of new charges plus the total interest charge, which will will at least keep your balance from growing in next bills.
4. Maintain Old Accounts : If you Maintain your old accounts it will be helpfull in proving that you are good borrower and make payments in full or atleast half to show that your are good in paying your payments.
5. Gaurd your Name : Its really very important that you keep your identity safe all the time. Never let others to know your personal information like Social security details, date of births, addresses or your employer information that could be used all at once to lend money on your name. check all your bills each month to make sure you havent got any bills that you never used. you should review the credit from all three agenciess (TransUnion,® Equifax,® and Experian®) at least once or twice a year and report any errors as soon as possible. Make sure you dont share your credit card numbers or account details with anyone who doesnt need to do anything with it.
6. Deal with problems promptly : ok, it happens to alot of people who are good in making their payments, sometime they get caught in problems when they cant make their payments. make sure you get in touch with your credit card or billing companies to get the problem sorted as soon as possible so that you wont make bad impressions in your credit report history.
Well these are all from my side. make sure you keep your credit history good to be in a better state of credit.