Trouble free tips to fix bad credit

Having bad credit might feel like the end of the world but there are things you can do to repair it.

05:55 19 February 2014

When you have bad credit, it becomes hard to make normal purchases and when you do you have to put up with higher interest rates than other people. It might not seem fair but the good thing about it is that you there are credit repair activities you can do. 

 

Here are some credit repair tips that you can follow:

 

• Take out a bank loan. Some banks are willing to lend money to people with a bad credit but you should make sure that you can make regular monthly payments on time. You should be aware that banks will regard you as a bad risk because of your bad credit history, so be prepared to pay a higher interest rate or put something up as collateral.

 

• Another great credit repair tip is to get a credit card if you do not have one and if you do have one to pay more than your monthly minimum payment. It will help you save and also be a good reflection on your credit history.

 

• In case you have car insurance or any kind of policy, pay your premiums in full. You can get ahead of your annual schedule if you pay a larger portion over a shorter period.

 

• Get in the habit of checking up with credit bureaus to understand the main source of your bad credit. This way you will learn what gets you in trouble most of the time.

 

• Sometimes Credit Bureaus get it wrong and will put inaccurate information on your report. You can send them a letter of dispute to get them to put the right information. Try handwriting letters instead of emailing them so that you don't get routed to an auto responder.