If you have bad credit or even no credit, don't think you can't get credit
. One of the most affective ways to improve or establish a good credit score is with UNSECURED CREDIT CARD. Unsecured credit line gives you the ability to improve and establish your credit because you are less of a risk to the lender.
How does an unsecured line of credit work? The creditor offers a line of credit with a deposit requirement, for example you put a 100 dollar deposit on a 500 dollar limit. Make sure you pay on time and after a year the lender would eventually send you a check for the 100 dollars or put it towards your balance.
Improving your credit score is very tricky but it could be done. It just takes patience and some manipulating of the system. Credit card companies want you to just pay the minimum balance but the idea is to max out the card and pay at least 45 percent of the balance not just the minimum. You should max out your credit card every month if you can and pay off 45 percent of the balance, that should boost your score around 15-20 FICO points.
Putting together your financial plan is the first step to your financial freedom. Your FICO score is what stands between you and saving lots of money on huge purchases, the less risk you are to your creditors the less they charge.
1st step Check your credit report
2nd step now were you want your FICO score to be (720)
3rd step is move in that direction by disputing negative and inaccurate trade line.
4th step is start living your dream and being financially free.
Creating a formula of how long it would take you to reach your goals is most important thing. How much is your debt? Divide by your annually income equals how long it would take you to pay off your debt. An unsecured loan is a very affordable and simple way to either establish or enhance your consumer credit report.
The secret to great credit is understanding your self as a consumer. If you like to shop you need to learn your limits.
Your credit score is your financial freedom allowing you to start a a small business, tcar, and a home.. Your credit score which is very imortaint it is the key to your safe.
After sending the dispute letters by law the bureaus has 30 days to do their investigation and either confirm or delete the dispute. If they do not respond in 30 days they have to remove the item from the credit report by law. The average is 60 point increase on your FICO score within 120 days, some people see better results.
Credit repair is slow process so be patient and understand you might have to send more than one letter to remove one negative trade line. Your credit is your future; everything depends on your credit score from employment, loans, and even insurance. Due your self the favor and check on your future today by checking your credit reports.