Many people start our credit repair services with no open accounts. We may remove a significant number of derogatory issues on your credit report, but without open positive credit your credit scores will continue to languish. This is a situation that must be rectified, and the sooner the better. It’s easy!
The Perfect Credit Repair Tool
Your credit scores are based on both the positive and negative information on your credit report. If you want to see real credit score improvement you must be communicating positive information to the credit bureaus each month, and the best way to do this is with properly managed revolving debt. If you cannot get approved for unsecured credit cards, just get secured cards, they are the perfect credit repair tool.
Secured Credit Cards
Secured credit cards are easy to get. The creditor will require a small security deposit, which will usually be equal to the limit on your new card. Shop carefully. You should be able to find cards without large fees. If you are in our credit repair program we will provide guidance and recommendations of the cards we feel are the best. If you currently have no open accounts we recommend that you open two cards for the best credit repair results. Once you have the new cards, keep you balances low and make your payments on time!
Authorized User Accounts
If you have a willing relative with great credit you should ask them to add you to one or two of their credit cards as an authorized user. This is an easy process that requires no qualification, although they will need your Social Security number. Your donor can simply call the issuer and ask them to send a card in your name, “in case of emergency”. The card will show up on your credit report within 60 days and you will “inherit” the credit score benefit. This is a great help to your credit repair effort, and a neat way to boost your scores, but is not a substitute for opening new secured cards in your own name.