How can I rebuild my credit fast Top 5?
Here are 5 basic tips to help rebuild your credit scores fast. First of all just be aware that life happens and if you just make the most important step which is to get started then you are step ahead of the majority that just expect it to change in a few years.
1 – Always pay your bills on time especially those that appear on your report monthly.
Be advised if it doesn’t report on your report then at times the underwriter department can ask for alternative creditors like your cellphone example Metro PCS, Boost phone.
2- You can also get credit from your apartment rent or if you rent from a landlord then there are online sources that will report rental history up to 24 months that helps rebuild your credit fast.
Some sources report to your your bureaus in 7-10 business day.
3- Apply for secured credit cards and keep your balance below 30% or lower along always make your payments on time. Being a recent late payment can lower your scores very quickly.
4- Apply for mixture of credit. Apply for differ types of credit tradelines being there is installment credit and revolving.
As stated earlier there are banks and other online sources that offer secured credit cards whereas if.
For example some banks will report on all 3 bureaus your payment history if you open up a $300-$500 security deposit that secures credit of the amount that your deposit with a monthly revolving payment.
5- If you currently have credit cards then NEVER close your accounts. You will loose history, along with payment history which is part of building your credit report fast.
If you have maxed out credit cards then just merely start paying down by choosing which card that you want to pay down by a larger amount than the other accounts.
Then make sure you make the minimum payment on the others. Once you pay down that credit card to $0 then continue the steps on the next credit card and so on.