Repair Credit History

Restore your Credit or Build (or rebuild) a Good Credit History

Creating a good credit history for the first time, or rebuilding after a credit challenge can be accomplished by some or all of the following steps:

• Pay down your largest credit card balances so that there is a large difference between your balance and the card limit

• Don't close credit card accounts you don't use. The open credit limits on those cards help your credit score.

• Open a few new credit card accounts, but not all at the same time. Use them occasionally, pay off the balance each month.

• Open department store and gas card accounts. Use them but keep balances at zero or low.

• For people with seriously damaged credit, get a secured credit card.

With Secured credit cards you'll have to make a security deposit first but it's not a debit card. It works like a normal credit card and can help restore your credit.

• Get a small personal loan from a local bank or credit union. Interest rates may be high but if you pay it off relatively quickly, total finance charges will not be significant.

• Pay all bills on time. Don't be late and don't miss payments. A single late payment can be very damaging.

• Repair credit report errors and mistakes

A Car Loan is one of the Very Best ways to Build or Restore Credit

After a home purchase, a car loan is usually the second largest debt that a person takes on. If you have bad credit and get an auto loan, then with each payment the credit agencies are notified you are on time and have made payment. With each payment you increase your Beacon score. The higher your beacon score, the better your credit is.

We only deal with credible banks, lenders and leasing companies that report to the consumer credit agencies such as Equifax and Trans Union.