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Can I Clean Up a Credit Report In One Day?

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By : Darin Sewell    99 or more times read

Are you able to put up a house in a day? Can you graduate college in one day? Probably not. Equally, you are unable to take care of bad consumer credit in 24 hours.

In spite of what various credit repair companies might have you accept as true, rebuilding a credit history of bad consumer credit takes a little time. In this article we will begin to supply you with some common sense guidance for boosting your fico score as fast as possible.

If you are applying for a home loan or credit account there are currently two pieces of personal items that your bank will look at to check before your bank grant borrowers loan. These two significant pieces of credit history are your consumer credit score and your consumer credit report.

A consumer credit report record is an in depth history of the way you pay your charge cards and people's total borrowing actions. Any damaging behavior that has happened to borrowers in the last 7-10 years must be listed on your credit report.

This credit activity is going to be applied to determine your consumer credit score by the three main credit reporting bureaus.

The credit scores that are considered the best are scores over 720, if your consumer credit scores are beneath 720 your borrowing rates in most cases are slowly start to go up as your FICO score goes down.

If you let your charge rankings to get pretty low, getting home loans and financing will be next to unattainable. The process of repairing your poor consumer credit requires a little time.

Start the process out by first securing a copy of your recent credit report. You can buy a credit report on line or get on free once a year. Once you look over your credit report and see what the negative information is, you need to get it removed.

The best way to get this information removed is to write a credit report dispute letter and send it to each major credit bureau that is reporting this information about you. You will also need to take a look at the amount of debt you have and work to reduce it.

So start working on reducing your debt by paying your balances down as fast as possible. The ideal level to get your scores start increasing is around 50% of your limit, so a credit card with a 5000 limit would need to be at $2500 or lower to get your scores to jump. Any higher and you look very risky and your scores may drop.

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