Are you sick of having bad credit and being stuck without any options when you really need them? Do you need to know how to improve credit rating for yourself and for your family? There are ways to make your credit better and there are ways to build your credit.
Understanding your credit is necessary and here is how to improve your credit rating over the course of a few months or a few years.
The first step is to get your credit report from all three credit bureaus.
This includes Experian, Equifax, and Trans Union and you will need to get a copy from all of them.
This will allow you to know exactly what you have as far as all your debts and you will have a better idea of what you need to do in order to get back on track.
Once you have all three credit reports you can move on to the next step.
The second step is to understand that there are some accounts that help your credit and there are some that hurt your credit.
The ones that help your credit are anything that you have paid on time and still pay on time or have paid off without being late.
These are great for your credit and they come first.
Make sure you continue to pay them on time.
The ones that you have been late on or do not pay on are the ones that you will be dealing with.
The third step is to put these accounts in the correct order.
This will be from smallest to largest.
Unless the largest is a car or house that you will lose if you stop paying on it, then you need to keep paying on it as normal.
You need to understand that it is not the size of your debts that matters, but how many there are that hurts your credit.
The quickest way to improve credit rating is to pay off the delinquent debts that are the smallest first and get as many paid off as possible.
Also, get yourself a small loan or credit card that you can pay on and make sure you are on time with it.
This will help you to build new and positive credit that will help improve your credit rating as well.