ArticlesBase.com - Free Articles Directory
Free Online Articles Directory
21.08.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


Self Help Credit Repair: 8 Tips to Get You Back on Track

Author: Tom Kline Author Ranking Blue | Posted: 16-06-2006 | Comments: 0 | Views: 139 | Rating:  (58) Article Popularity - Blue (?) Got a Question? Ask.
Sign Up Now!

Many Americans run into financial problems that wreck their credit scores and make it hard to secure loans for new cars, homes, and other important investments. But given enough time and fiscal restraint, you'll be able to rebuild your credit and get the new car or home of your dreams. To get you started, here are 8 self help credit repair tips:

1. Pay your bills on time. Make timely payments on credit cards and installment loans. This is an important self help credit repair tip because a solid payment history will help improve your FICO credit score. If you can't make a payment, contact your creditors or see a legitimate credit counselor.

2. Take out low credit score loans when buying cars. Why are low credit score loans important? In general, having installment loans or credit cards (and paying them off) will boost your FICO credit score. That's because you've proven you can handle credit. Establishing a good payment history on low credit score loans opens the door for better financing.

3. Don't transfer balances. Keep balances low on credit cards and other revolving credit. Pay off debt rather than transferring balances.

4. Build credit with a co-signer. Get help from someone with good credit. Then create a debt and immediately pay it off in full. Repeat until you no longer need the co-signer. Just remember, the co-signer's credit suffers if you default.

5. Rate shop for loans in a focused timeframe. A FICO credit score distinguishes between a search for a single loan and a search for many new credit lines. So if you're shopping around for the best car loan, do it quickly and do it all at one time.

6. Check your credit report. Many people mistakenly believe requesting their credit report negatively impacts their FICO credit score. Order your credit report directly from the credit reporting agency or through an organization authorized to provide credit reports to consumers. The three major credit bureaus are Equifax, Experian and Trans Union.

7. Re-establish credit with a secured card. Avoid high-interest credit cards, and get a secured card instead. You set a predetermined sum from your bank account, which becomes your credit line.

8. Stay on track for 7 years. Recent financial information is factored into credit scores more heavily than old data. Most negative financial information—such as late payments—are removed from your credit report after 7 years. (Note: bankruptcy information remains for 10 years.)

Rebuild your credit today. Raise your FICO credit score by paying bills on-time, every time. In addition, financing a new car purchase is a great way to re-establish credit.

Rate this Article: Current: 0 / 5 stars - 0 vote(s).

Article Source: http://www.articlesbase.com/automotive-articles/self-help-credit-repair-8-tips-to-get-you-back-on-track-35629.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:
© 2006 RK Auto Group Tom Kline is Controller of RK Auto Group (RK Buick, RK Chevrolet, RK Subaru, RK Scion and RK Toyota).
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Related Articles

How Does Your FICO Credit Score Impact You When you a Buy a Vehicle?
By: Tom Kline | 25/06/2006 | Automotive
A good FICO credit score is critical for securing car loans at favorable interest rates. Learn the ins and outs of credit scores and methods of self help credit repair.

Improve Your FICO Credit Score by Making Sure it's Error-Free: a Guide for Military Men & Women
By: Tom Kline | 21/06/2006 | Automotive
When buying used cars, a strong FICO credit score helps military borrowers. Don't let mistakes in your credit report lower your score: Learn how to fix errors & get lower interest rates.

Understanding Different Versions Of Credit Scores
By: Jay Fran | 01/04/2006 | Finance
This article shows consumer that many different types of credit score they may face when getting a new loan.

The Fico Credit Score – What is It?
By: ALDREENA M. FEREBEE | 14/07/2008 | Personal Finance
What is the Fico Score? Why do lenders use the Fico Score? What is the History of the Fico Score. How can consumers raise their Fico Score?

Five Ways To Improve Your FICO Credit Score, Get Lower California Mortgage Rate.
By: Keith Hunt | 26/04/2006 | Finance
Improve your credit score to receive a lower California home mortgage loan rate. Use these five simple ways to increase FICO credit score.

Low Credit Score Loans: Loans Where Credit is not Counted
By: Ashley P Lewis | 27/11/2007 | Loans
Low credit score loans speak of a cash advance program where money is advanced for almost any of your personal needs and without any bar for the bad credit holders. These are available again, in both the regular formats, secured and unsecured.

Low Credit Score Loans: Easy Money for Those in Bad Credit
By: Ashley P Lewis | 10/01/2008 | Loans
Low credit score loans are available to borrowers who have a low credit score in their credit report. The borrowers can take up these loans in the secured as well as the unsecured form. Online research helps the borrowers in getting low rate deals.

Low Credit Score Loans – Apt Solution to your Varied Problems
By: Ashley P Lewis | 16/01/2008 | Loans
These loans are made specifically to people whose credit score has plunged to new lows or who are normally unacceptable to other lenders. They can use the loan for improving their credit score and for host of purposes.

Got a Question? Ask.

Ask the community a question about this article:

Q&A Powered by:
Powered by Yedda 

Latest Automotive Articles

Magic of a Car That Runs on Water
By: Arthur Maxwell | 21/08/2008
There's only one thing more miraculous than a messiah that walks on water; a car that runs on water. Unfortunately, cars cannot literally run on water at the moment. However, there are several home conversion kits that will allow you to partially use water in the running of your car....

Can You Build Hydrogen Fuel Cell For Your Car?
By: Arthur Maxwell | 21/08/2008
There are many advantages to hydrogen fuel cells. Hydrogen fuel cells are environmentally friendly. Hydrogen fuel cells use a renewable natural resource and hydrogen burns cleanly when combusted in the engine. The US government has also launched initiatives to make hydrogen affordable. As gas prices rise and hydrogen prices drop,...

Increasing Your Vehicle Miles Per Gallon With Water
By: Arthur Maxwell | 21/08/2008
With gas prices rising in the backdrop of a receding US economy, most motorists are trying to increase their vehicle miles per gallon of gas. This has become especially important as inflation hits an all time high in the US. One of the best ways to increase your vehicle miles...

Water in Gas Tank - Does it Really Work?
By: Arthur Maxwell | 21/08/2008
The ability to run a vehicle on water seems like an outlandish notion plucked from a science fiction movie. However, innovative applications to established technology have slowly turned fiction into fact. Vehicles can now be partially run on water. There are many guides on the internet that provide information on...

Great Advantages of a Hydrogen Generator For Car
By: Arthur Maxwell | 21/08/2008
Increasing gas prices have been a growing concern as inflation hits a weakened US economy. Millions of motorists are exploring ways to reduce their gas bills. One of the most popular methods in reducing gas is by using HHO (2 parts hydrogen and 1 part oxygen) to increase gas efficiency....

Water - A Great Alternative Fuel For Cars
By: Arthur Maxwell | 21/08/2008
The price of gas is becoming exorbitant. The price of oil is reaching an all time high and motorists are paying the price. The increase in gas prices comes at a time of great economic uncertainty. Consumer confidence is weakening as a looming US recession is bolstered by inflation. There...

Effectiveness of a Water Power Car
By: Arthur Maxwell | 21/08/2008
There is a growing demand for vehicles that use an alternative source of power. Recently, the US government has become more concerned with environmental problems that are associated with using oil as a source for energy. Nations across the globe are starting their own eco-friendly initiatives to encourage consumer independence...

Top 3 Benefits of Homemade Hydrogen Fuel Technology
By: Arthur Maxwell | 21/08/2008
Water is one of the most abundant resources on the face of the earth. Approximately 70% of the earth's surface is covered with water. Not only is it abundant, but it is renewable. If we were able to utilize this resource as a source of power, imagine the possibilities. Fortunately,...

More from Tom Kline

How Does Your FICO Credit Score Impact You When you a Buy a Vehicle?
By: Tom Kline | 25/06/2006 | Automotive
A good FICO credit score is critical for securing car loans at favorable interest rates. Learn the ins and outs of credit scores and methods of self help credit repair.

Improve Your FICO Credit Score by Making Sure it's Error-Free: a Guide for Military Men & Women
By: Tom Kline | 21/06/2006 | Automotive
When buying used cars, a strong FICO credit score helps military borrowers. Don't let mistakes in your credit report lower your score: Learn how to fix errors & get lower interest rates.

Know Before You Tow: Free Towing Guide
By: Tom Kline | 15/06/2006 | Trucks
Read this towing guide to learn more about hitch towing: how much you can tow, where to place the hitch and how much weight you can tow.

Business Consultants: How to Tell When your Business Needs a Consultant.
By: Tom Kline | 11/05/2006 | Management
In any small to medium-size business, there comes a time when you don't know exactly what to do or how to do it. Does your company need a consultant to grow or survive? Tom Kline of RK Auto Group (RK Toyota, RK Buick, RK Chevrolet, RK Subaru & RK Scion) lists 9 situations where a consultant can make a positive difference and lists the top five advantages of hiring a consultant.

Ensure a Pleasant Summer Road Trip by Showing your Vehicle a Little TLC.
By: Tom Kline | 20/04/2006 | Automotive
Ensure a pleasant summer road trip by showing your vehicle a little TLC. Part 1 of the RK Auto Group check point list covers tires, brakes, belts and hoses.

Get Everything you Want with these Negotiating Tips from a Successful Business.
By: Tom Kline | 20/04/2006 | Motivational
Doesn't it seem sometimes as though life is a constant struggle to get what you want? End your struggles with 3 simple words: learn to negotiate.

Negotiating your Way to Happiness: Part 2
By: Tom Kline | 19/04/2006 | Motivational
Whether you're buying a new home or deciding on a vacation, chances are you'll get your way if you learn closing skills. Win in any situation with these closing tips.

Custom Car Options like Paint and Accessories Add Sizzle to your Ride: a Primer
By: Tom Kline | 28/03/2006 | Automotive
Custom paint jobs, accessories and more help gearheads to soccer moms personalize their rides and improve resale value. Dealer service departments can guide your ride customization effort, installing custom features and ensuring you meet warranty guidelin

Article Categories






Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below