If you been through bankruptcy, but do you know how to repair credit after bankruptcy. Do it yourself, because Professional companies charge too much. Lets discuss how to do it.
In every month for small purchases take a credit card & use it . After your bankruptcy you will have to take a secured account most likely . Same amount as your credit limit it will be guaranteed by a bank deposit . In the condition of poor rating , you can easily take secured credit cards because the lenders do not want any risk . if you make mistakes for doing your payments , then it take your deposit simply .
In each month pay your whole credit card balance & quite sure that your payments are received before the deadline. FICO, the largest scoring company who established an on time payment history , which is the one& only largest factor in high up your credit score . It also display that without leaving payment or you can use the card properly with out running so much debt . These all factors are more attractive to the other creditors .
To diversify your accounts you can apply for an installment loan . In many cases like when you have a mix of revolving credit , like a credit card & installment accounts like car or furniture loans , FICO take you a higher score . If you have paid a big deposit & for several months you make up a good history with your secured card then furniture store appliance stores & other retailers may start an account for you .
Start an revolving credit account which is not secured , when you have had some problems related with credit than you have to begin with the help of gasoline credit card rather than use the other big brand , visa & master card which are available easily . You are eligible for a daily card about 6 to 12 months if you use it & paying it , then it will repair your credit .