How do I rebuild my credit score?

Whatever your financial situation is, if you have a bad credit score, your number one priority should be to rebuild it. We recommend that consumers practice these simple for a positive impact on your credit score.

Pay the balance of the credit card in full and on time each month. Pay your debts is a surefire way to show the credit bureaus that you are a responsible spender - meaning they do not take into loans that they can not pay off. Do whatever it takes, from the creation of a monthly reminder on your cell phone or your calendar, or start a recurring monthly payment from your checking account so that it does not slip your mind. While it may be tempting to pay only the minimum, and not worry about some of your balance, there is even more negative than for the damage to your credit score. Most bad credit credit cards have high-interest rates, unfortunately, which means that your interest costs will be higher - unless you have the EMV Savings Secured Visa Platinum Card.

Do not spend beyond your credit limit. Most experts agree that the use of more than 60% of your total available credit limit has an adverse impact on your credit score. With typical secured credit cards starting with minimum balances of $ 250, it means that you do not have much room for error. While issuers do not give you a certain amount of credit, they like to think that you do not rely entirely on it - the closer you are to your limit, the more desperate you seem an agency of information.

Find someone to co-sign your credit card with you. If you have a family member or close friend with a good credit score, see if they are willing to co-sign on your new credit card. They will be taking a share of responsibility if you are unable to pay your debt. In return, you will effectively increase your credit score so that the loan application - resulting in qualify for better credit cards that can ultimately end up saving you more money.