2006-08-09 16:32:14 · 4 answers · asked by meaux reaux 2 in Business & Finance ➔ Credit
first, get rid of all of your credit cards. Only keep one for emergencies, food, etc. and pay the bill off every month. DO NOT keep building up money, because you will dig yourself into a hole that is really hard to get out of.
second, pay off bills when you get them and be on time. don't let them be late at all.
when you have a bill that has interest (like the payment for your house or something) pay MORE than the minimum. pay the minimum and a bit more, if you can. that way, the interest goes down, and the interest on your next bill will be smaller.
Go to a rent-a-center (or any place where you can rent furniture/washing machines, dryers, etc) and rent it for a few months. pay off the bill on time, and your credit score will move up ALOT.
Do not be late on any of your payments.
Get some money in a savings account, and get some money into a Certificate of Deposit (CD). the CD has interest one it which gives you more money.
(Say you have 1000 dollars in a CD. get a 6 month CD, and after the six months, depending on your % of interest, you could get from 200- 1000 bucks more in your account. when the bank sees that you have a savings account that has money in it and a CD, your credit score will move up another few notches.
I hope that helps, and good luck!
2006-08-09 18:27:40 · answer #1 · answered by Getoutalive 2 · 0⤊ 0⤋
If you have a lot of outstanding accounts, or even just a lot of credit debt, consolidate through a reputable firm (research them on the BBB) and start paying it down. Close any unnecessary accounts (JCPenney card, Citgo card, whatever). Have one credit account for emergencies, and pay it down every month.
It takes time, but it can be done (I'm almost out of my 7 years bad luck!!)
2006-08-09 23:39:38 · answer #2 · answered by Woz 4 · 0⤊ 0⤋
Contact Consumer Credit Counseling in your area. It is a non-profit organization supported by credit lenders. They will review your debt load, contact companies on your behalf and work up a re-payment plan. They are very successful at getting companies to stop charging interest , as long as set-upon payment is made each month. I worked in the collections department of a major department store and we recommended them all of the time to customers who were sincere in their efforts to repair their credit.
2006-08-10 00:54:58 · answer #3 · answered by Kim 3 · 0⤊ 0⤋
consolidate and pay it all off, get secured credit card for a year
2006-08-09 23:38:00 · answer #4 · answered by Michelle 6 · 0⤊ 0⤋