subject: Improve You Credit Score In 2011 [print this page] Providing easy to understand tips on improving your credit score is one of our New Year's Resolutions. Although it only takes a few months to destroy your credit score, it can take two years or more to improve your credit score to a good rating.
Share Your 2011 New Year's Resolution
Is your goal in 2011 to improve your credit or do you have another New Year's Resolution to share?
Improving Credit Scores: Time Is On Your Side
If you did nothing at all to improve your credit score except pay your bills on time each month, your score will gradually improve. Time is your friend. As bad credit information like late payments get older on your credit report, they have less impact on your score. The most important information on your credit report is the activity from the past 24 months.
Credit Cards For People With Low Credit Scores
Are you getting declined when you apply for an unsecured credit card?
There are credit cards designed to help you rebuild your credit score. These types of cards are called secured cards or prepaid cards. Although these cards require you to pay fees, when you are serious about improving your credit score, the fees are like an investment in your future. After a couple of years you should be able to stop using the prepaid card and qualify for a no annual fee unsecured visa or mastercard.
Shop Around And Compare Prepaid Cards
There are services available that make it easier to do side by side comparisons of card products that you qualify for. When comparison shopping, the first thing to look for in a credit card is to make sure it reports to all three credit bureaus.
Do Not Waste Your Time
The whole purpose of getting a prepaid card is to help rebuild your credit score. If the credit card company does not send your monthly payment information to all three major credit bureaus, you are wasting your time with that card. If you can't find one that reports to all three major credit bureaus, at the very least, go with a credit card that reports to at least one of the three major credit bureaus.
More Credit Score And Money Tips
If you follow a good advice from a good newsletter throughout the year for more tips about your credit score and for other free advice on your money matters, your New Year's Resolution can be accomplished.
