| There are many misconceptions about credit repair. | | | | you have to be late, don't be more than 30 days late |
| There are many companies out there marketing to | | | | on ANYTHING ever. This is the single fastest way to |
| folks telling them they can boost their score 200 points | | | | bring your credit score down. If you are going to be |
| in a couple weeks. The fact is that many of those | | | | late on anything, call your creditor and let them know |
| claims are not true, and the methods used are either | | | | first and make them put in writing they will report to the |
| unscrupulous, illegal or simply not real. | | | | credit bureau. |
| The following steps anyone can take in order to boost | | | | 5. If you have credit available and the money to pay it |
| their credit score. (your credit score can be the | | | | off, use it then pay it off IMMEDIATELY. |
| difference between a prudent borrower qualifying to | | | | 6. (THE MOST IMPORTANT) Live within your means. |
| buy a house and not in this market) | | | | Don't use credit to finance your lifestyle. Create a |
| 1. Keep a 25% balance or under on any unsecured | | | | budget and stick to it every month. (use tools like to |
| credit card you have. (ex. $1,000 limit should keep your | | | | help) |
| balance below 250). | | | | Use these tips and you can boost your score |
| 2. Dispute ONLY erroneous information on your | | | | tremendously over time. Your score will not go up 150 |
| account. (If you dispute everything on your account | | | | points in a day if you follow these tips, but can go up |
| you can sometimes do more harm than good. | | | | substantially in a 3-6 month period if you follow these |
| 3. When you pay off a credit card, DON'T close it. | | | | guidelines. |
| (Available credit cushion is a huge factor into your | | | | In this current lending environment banks look for |
| credit score.) Banks want to see that you could use | | | | reasons to turn people down, so the better your credit |
| credit if you wanted to, you just choose not to. | | | | score the better chance you have of qualifying and |
| 4. This may be common sense but... Don't be late on | | | | buying the home of your dreams. |
| any of your payments that report to credit bureaus. If | | | | |