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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.

How Secured Credit Cards Can Build, or Rebuild, Your Credit

Once a little-known option, secured credit cards for people with scant or poor credit are getting more attention. This week, for instance, Amazon introduced a secured card called Amazon Credit Builder ...

Published:  Fri, 14 Jun 2019 03:00:00 GMT



Amazon launches new secured credit card for those with bad or no credit

Amazon this week unveiled a new secured credit card with Synchrony Bank, aimed at customers with bad or no credit history. The card - called the Amazon Prime Store Card Credit Builder - requires a ...

Published:  Thu, 13 Jun 2019 14:10:00 GMT



Amazon's unique new credit card is a play for low-income Americans

... card is what's known as a "secured" card. That's because to get one, the cardholder must pay a security deposit equivalent to their desired credit limit, with a minimum deposit of $ ...

Published:  Fri, 14 Jun 2019 17:19:00 GMT



Amazon Launches Secured Credit Card for Shoppers With Bad Credit

E-commerce giant Amazon.com Inc. (AMZN) has partnered with Synchrony Financial (SYF) subsidiary Synchrony Bank to offer secured credit cards to shoppers with low credit scores or no credit history. ...

Published:  Tue, 11 Jun 2019 04:41:00 GMT



Synchrony Expands Amazon Relationship With Secured Credit Card

Synchrony Financial expanded its relationship with Amazon.com Inc., unveiling a new secured store credit card that targets consumers with low credit scores. Amazon's new Credit Builder card requires ...

Published:  Mon, 10 Jun 2019 06:53:00 GMT



Amazon launches secured credit card; SYF +2%

Amazon (NASDAQ:AMZN) and Synchrony Financial (NYSE:SYF) partner for the Amazon Credit Builder, which pairs a secured credit card with budgeting tools and advice. Prime members who obtain the ...

Published:  Mon, 10 Jun 2019 11:13:00 GMT



Amazon, Synchrony Launch Secured Credit Builder Card

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn't influence our ...

Published:  Mon, 10 Jun 2019 06:14:00 GMT



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