Simple Steps to Improve Your Credit History without Pain

Advertising Disclosure is an independent, advertising-supported web site. receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Building Credit History » Simple Steps to Improve Your Credit History without Pain

Simple Steps to Improve Your Credit History without Pain

Updated: December 26, 2012

Add to Favorites:
Bad credit can turn out to a nightmare with the exorbitant interests that one needs to pay. It is definitely a black mark in one`s financial report. Also it makes getting fresh loans very difficult. Keeping all these in mind it only makes sense that one work towards improving their credit history in order to improve their financial reputation. Here are a few simple steps to help you repair your bad credit history. Step one: The first and foremost thing that you need to do is manage your credit cards and if possible get them consolidated. Next you need to stop using them. The more you use them the deeper you get pulled into the credit mire and further worsen your credit history. Step two: Even as you go about closing your credit cards, be careful and study them before you do so. In some cases it may be more beneficial to hold on to some of hem rather than close all of them. Step three: Make it a point to make all your payments in time. Each time you make a default it hits your credit rating. Step four: Look no further for fresh loans. The more loans you have deeper you get into credit, which in turn lowers your credit ratings. Stay away from loans and make prompt payment for those that you already have. Step five: Get hold of your credit report and study it carefully. In fact this should be done on a regular basis to keep a tab on any discrepancies that might creep into your credit standings. If you happen to notice any kind of discrepancy go about setting it right, in order to maintain your credit accurately. To keep tab on your credit report you can get them from the national credit agencies. Step six: Work towards clearing your debts. As and when you start repaying your debts it will start affecting your credit history positively. If the need be sell personal belongings in order to raise cash to help in debt repayment. Step seven: When paying your debts be sure to clear those with a high interest rate first so that you don`t end up paying unnecessary interest. Step eight: Get in touch with your creditors. Many of them may be able to help you through this difficult period with the help of their hardship plans. These plans will help you overcome your bad credit. Step nine: If you are not too sure about the way you are handling your credit, you can always opt for professional help. National Foundation for Credit Counseling will help you locate the nearest credit counseling agency, which can help set you on the right track. Step ten: The key word here is patience. You can`t expect your bad credit to turn over overnight. Bad credit is generally the result of bad financial planning over a period of time, so it is but natural that it will take some time to correct itself with good financial planning.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

5 Reasons to Get the Capital One Venture Miles Rewards Card

By Herbert Moore, Posted: January 18, 2017

If you’re looking for a great travel rewards credit card—one that offers unlimited earning opportunities, flexible redemption, and lots of perks—look no further. This card from Capital One has you covered. Continue reading

Credit Card Tips For Holiday Shopping 2016

By Herbert Moore, Posted: November 23, 2016

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading

Credit Cards to Save More on Holiday Shopping

By Herbert Moore, Posted: November 22, 2016

Discounts and special offers are available all year round. Werther you are a bargain hunter or an impulse buyer, make sure you check online discounts and special offers. Also, if you are a cardholder, see if your credit card opens the door ... Continue reading