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      October 22, 2017

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Own Your Credit Problems

The bad news is that youíve come out of the recent financial slump with dismal credit and unhappy creditors. But, at least, millions of people are suffering financially so you know you're not alone. Owning your financial issues today is the most responsible position you can take and, more importantly, will get you on the path to a better credit score, faster. The following steps will help you get on the road to improving your credit worthiness:

  • Access the destruction. Either pay for or request a free copy of your credit report. Sometimes it's hard to digest the truth but the inevitable is that you should look at your credit report and identify your score from all three agencies to see where you stand.
  • Dispute any credit inaccuracies. It's simple and free to dispute issues with your credit reporting. Simply go online to your creditorís website or call them directly to ask for the proper steps in disputing a reporting error. More often than not youíll find reporting errors that, when corrected, will improve your credit score. Also, if your creditor is unable to provide adequate proof, of the issue at hand, they are required by to law to reverse the negative entry. Continue to review your credit history, on a monthly or quarterly basis, to identify additional inaccuracies and also monitor your progress.
  • Answer the phone. If creditors are still calling answer your phone and have a conversation with them. Many lenders are more than happy to set up a payment plan or negotiate options that you can afford - they do this to avoid your bankruptcy.
  • Review the status of your credit cards. If you still have any open credit cards look for those with issues you can fix. For example, if you have a credit card that is over the limit, make every effort to eliminate the overdrawn portion as soon as possible.
  • Open a secured credit card. If you donít have any credit cards open consider opening a secured credit card. Secured credit cards that report to all three agencies are going to be your best option to directly improving your current credit score. However, that means you have to show that you're more responsible now and will prioritize with this card. Make monthly payments on time, every month, without issue. Be sure and review the fees associated with any secured card you may be considering.
  • Once you have a little credit. Utilize your new credit card each month in the most responsible manner. Youíll see the biggest credit score boast by regularly using your credit card but only while keeping the spending down, and paying off the balance each month. Use your credit card to pay for groceries or utility bills - no need to spend on unnecessary items.

Owning your credit problem means taking the bull by the horns. Or in this case, taking control of your credit report. This will help you find ways to improve your existing credit score while making plans for the future.

What to Weigh When Considering a Secured Credit Card

Not everyone can qualify for the top-of-the-line rewards credit cards. If you've been turned down because of your credit scores, you have other choices. One is to build credit using a secured credit card. Secured cards make up less than 1% of the credit ...

Published:  Tue, 17 Oct 2017 22:20:00 GMT



Credit Cards After Bankruptcy

Informed consumers who want to get back on their feet after bankruptcy can do so by applying for a secured credit card offer from a leading issuer, kicking off a process of rebuilding their credit score by having their monthly on-time payments reported to ...

Published:  Mon, 09 Oct 2017 07:00:00 GMT



nRewards Secured

Rewards paired with no fees make this secured card a stand-out. This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our bad credit category page. Advertiser Disclosure: This post contains references to ...

Published:  Wed, 18 Oct 2017 07:24:00 GMT



Couple wants new credit cards after accounts went delinquent: Money Matters

Multiple inquiries hurt you. 7. If you can't qualify for a "regular" unsecured credit card even in a couple of years, you can get a secured card, which is like a prepaid card using your own money. Before you would open any secured card account, you'd ...

Published:  Wed, 11 Oct 2017 02:04:00 GMT



How Credit Card Delinquency Works

So be patient, open a secured credit card, use it wisely and you will eventually regain your previous stature. In the end, delinquency won't seem so intimidating after all.

Published:  Fri, 20 Oct 2017 21:00:00 GMT



How to Get Cash Back From Your Credit Card

Cash-back reward offers are no longer reserved for the highest-spending cardholders. As competition in the industry heats up, even secured credit cards with no annual fees are doling out cash-back rewards as banks look for ways to encourage card use.

Published:  Thu, 12 Oct 2017 03:15:00 GMT



Best Credit Cards to Rebuild Credit

Limited credit history or working to rebuild your credit Secured credit cards are a great option for you. These cards offer an effective way to build credit. In fact, most of the cards we review will report your payment history to all three of the credit ...

Published:  Wed, 11 Oct 2017 17:41:00 GMT



HELOC Vs. Credit Card: Which Is Better for Emergency Cash

This HELOC vs. credit card comparison discusses the factors to consider before taking out either of them. Let's start with the basic features: There are both advantages and disadvantages on taking out a secured type of credit. With a HELOC, if you have ...

Published:  Tue, 17 Oct 2017 20:03:00 GMT



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