Credit repair can produce wonderful and quick results; credit bureau disputes can remove offensive errors while there are many credit score optimization tricks that can bump up your scores in no time at all. But some of the work you will do to improve your credit will require time. This does not mean that it will be hard, but if you want genuine enduring results you may need patience.
Your Credit History Starts Today
A quick look at a list of the factors that contribute to your FICO score will reveal the importance of a good established credit history. If you have been through a rough patch you may have very few open accounts. Without open active accounts you cannot establish a credit history. This is one area of credit repair that requires time, and as every day represents money in the FICO bank, now is the time to start building credit that will serve you well in the future.
The Preferred Means of Building Credit
Credit cards are the preferred way of rebuilding credit for the long run and are quite popular among people in credit repair programs. Unlike installment loans that usually have a short life span, credit cards can build a potentially unlimited history. If your credit scores are inadequate to get you approved for mainstream credit cards there is an option that is quite good, secured cards.
An Easy Solution
Secured credit cards are a powerful and easy way to build credit history for credit repair, even when no other credit is available to you. These accounts are secured, or collateralized, by a security deposit which is normally equal to the borrowing limit on your account. The best of these cards do not even require a credit check. Be sure to shop carefully to insure that your new card reports to all three bureaus.
Building a Safety Net
If you want the most enduring credit repair results it is imperative that your payments from this point forward be made on time. This may seem obvious, but there are many issues which can arise and create a detour on the road to success, from family problems to medical emergencies. It is important to be prepared so that you do not fall behind on your payments. A saving account can provide the perfect support.
Working With Your Budget
Savings can be difficult. But it is a worthwhile exercise to examine your budget very carefully. Try to cut expenses as needed so that you can contribute to a savings account on a regular basis. Many people discover that by using a little creativity they find ways to restructure their overhead without reducing their standard of living. Eating at home more often is one idea that can make a big difference, but get as creative as you dare and you are sure to find many candidates for cost cutting.
Discriminate and Plan Ahead
Once your secured credit cards have worked their credit repair magic you will find it is much easier to get new credit. Soon enough you are likely to receive unsolicited offers in the mail, some of which will be for high quality credit cards. As new doors open to you it is critical to be very thoughtful about which offers to accept. Your credit and your financial health are intimately connected so take your time and keep your budget in mind with every new account you open. Good luck!
Copyright © 2010 Sky Blue Credit Repair. All Content. All Rights Reserved.