Many people think that bad credit is very easy to handle. But in reality, it can be a storm in your life that can destroy your whole financial career. It also damages the psychological strength of people. Whenever people face lone denial, high interest rates, rejections from landlords, fewer job opportunities, etc., they feel depressed.
But the good news is, you can transform your bad credit into good credit by following the proper credit repair process. So, start your first step from today.
Why is a Bad Credit Harmful for You?
Bad credit means a low credit score. Due to a low credit score, you might have to:
- Pay higher interest rates
- Face fewer job opportunities
- Get rejected for loan approval
- Deal with limited opportunities or denial for renting a home
- Pay a big amount as a monthly installment
- Pay larger security deposits
What Steps Should You Follow to Get Free From Bad Credit?
We agree that bad credit is like a thorn in the throat. It creates a constant nuisance until it is repaired. But, you can easily get rid of this problem by following the step-by-step procedure of the credit repair process. The process includes-
- Understand the Present Condition of Your Credit
- Get a free copy of your credit report from the three major credit bureaus: Experian, Equifax, and TransUnion at AnnualCreditReport.com.
- Find out the reasons behind low credit scores. Reasons like: wrong information, accounts that don’t belong to you, Identity theft, late payment or missed payment issues (it will only be repairable if the information is inaccurate or outdated), etc.
- Dispute Inaccurate Information
- If you find inaccuracies, dispute them with the three major bureaus
- Submit all the evidence to prove your claim
Disputing inaccuracies increases the credit score.
- Lower Your Credit Utilization Ration
- Avoid using the credit balance more than 30% of your available credit (make it 10% if possible)
- Settle the amount as soon as possible if the limit is already crossed.
- Keep Consistence in Timely Payment
- Late payment or missed payment is responsible for 35% of credit history. So, don’t be late at payment or don’t miss the payment
[Tips: Set reminder on phone or start autopayment option]
- Add a Secured Credit Card or Credit Builders Loan
- A secured credit card or credit builder loan represents you as a responsible user or borrower. It helps to get positive reports from the credit bureaus, which increases the scores.
Get Helps from the Great American Credit Repair
Goals are never achieved on their own. You have to take action to achieve them. Rebuilding or boosting your score may feel like a hassle if you do it by yourself. You might be lost in the middle of the credit rebuilding process. In this situation, feel free to hire an expert who can boost your credit score by following all the processes with laws and regulations.
Whether you live in Florida, New Jersey, California, Pennsylvania, or Virginia, an experienced team of Great American Credit Repair will guide you in completing the credit rebuilding process with legal activities. Great American Credit Repair has been helping people fix their credit since 2008.
So, call the Great American Credit Repair today and break free from bad credit.