One of the biggest obstacles the people with bad credit face is the difficulty of trying to rebuild credit history that have been damaged.
It’s the old catch 22, they cannot get credit due to their bad credit and they have bad credit because they have no credit history! Frustrating to say the least but a problem that is easily solved with a few simple tricks to establish credit that anyone can do.
Three Tricks To Establish Your Credit
Trick #1 Get a Secured Credit Card - Secured credit cards are one of the best ways to build credit regardless of your credit history or current FICO score. These credit cards function and report just like a regular credit card but they are secured by a cash deposit that you make with the lender. This cash deposit is equal to the credit cards account limit (usually $250-$500) and is held by the lender.
In the event that you default the lender takes what you owe them from the deposit and returns the rest to you. If you never default and always pay on time most lenders will convert the account into an un-secured account and return your deposit money.
And the best part about these cards is that as long as you have a job, the deposit money and make enough to pay the minimum monthly payments they will approve you and you can start re establishing your credit history!
Trick #2 Use Rental Centers - Rental centers are stores that sell household items and allow you to “rent to own”. This is basically just a fancy term for a loan! While the loans are often high interest they do have very easy guidelines and will generally approve most anyone with a job and a heartbeat.
I recommend that you take out financing for something small and make payments for 12-18 months then pay it in full. You will not pay much more then standard retail by doing this and the effects it will have on your credit score will be very positive. Just make sure to never pay late or it will damage your credit more then it will help it.
Trick #3 Repair Your Credit Report - While you are adding positive accounts to your credit report with the above methods you must also take care of past mistakes by getting them removed from your credit report.
The easiest way to do this is some simple self credit repair methods. While it is a straight forward process that it is one that is fairly involved and could literally fill a book! So it is recommended that you pick up a good credit repair kit to help guide you and give you a step by step credit score boosting plan to follow.
Tips For Doing Self Credit Repair
The process of Self Credit Repair is a fairly straight forward and simple process if you have the right plan to follow. However If you go into it unprepared you run the risk of failing or damaging your credit further. To avoid hurting your credit you should get a proven Credit Repair Guide.
...Don't Want To Do It Yourself? FREE Credit Repair Consultation From Lexington Law, The Leader in Credit Repair Call Now 1-800-293-3672 or CLICK HERE to Learn More