Now, your goal should be to pay everything off immediately and not use credit if at all possible,  but sometimes credit is necessary.

Furthermore, bad credit can prevent you from getting hired at certain jobs, from renting a car, even from getting a cell phone.

So it is important to rebuild your credit.

To do this:

Pay your bills on time. Make this your top priority. Pay them a week early so that you are SURE that they arrive on time. If you literally do not have enough money to pay them off on time, you need to either take on a part time job for extra money,  sell possessions, liquidate assets, or negotiate with your credit card company.

Get a secured credit card and ALWAYS pay it off on time. Charge very small amounts and then pay them off. You can carry a very small balance if you want – $10 or $20 – but NEVER make your monthly payment late. After a year of always paying off on time, apply to change it to an unsecured credit card.

Make it a priority not to charge more than 30 percent of your available credit. If you have charged more than 30 percent, make it a priority to pay that down first. Your credit rating goes down when you have less available credit.

The Basics

Before you start boosting your credit score, you need to know the basics.  You need to know what a credit score is, how it is developed, and why it is important to you in your everyday life. 

Lenders certainly know what sort of information they can get from a credit score, but knowing this information yourself can help you better see how your everyday financial decisions impact the financial picture lenders get of you through your credit score.  A few simple tips are all you need to know to understand the basic principles:

Tip #1: Understand where credit scores come from.

If you are going to improve your credit score, then logic has it that you must understand what your credit score is and how it works.  Without this information, you won’t be able to very effectively improve your score because you won’t understand how the things you do in daily life affect your score. 

If you don’t understand how your credit score works, you will also be at the mercy of any company that tries to tell you how you can improve your score – on their terms and at their price.

In general, your credit score is a number that lets lenders know how much of a credit risk you are.  The credit score is a number, usually between 300 and 850, that lets lenders know how well you are paying off your debts and how much of a credit risk you are. 

In general, the higher your credit score, the better credit risk you make and the more likely you are to be given credit at great rates.  Scores in the low 600s and below will often give you trouble in finding credit, while scores of 720 and above will generally give you the best interest rates out there.  However, credit scores are a lot like GPAs or SAT scores from college days – while they give others a quick snapshot of how you are doing, they are interpreted by people in different ways.  Some lenders put more emphasis on credit scores than others. 

Some lenders will work with you if you have credit scores in the 600s, while others offer their best rates only to those creditors with very high scores indeed. Some lenders will look at your entire credit report while others will accept or reject your loan application based solely on your credit score.

The credit score is based on your credit report, which contains a history of your past debts and repayments. Credit bureaus use computers and mathematical calculations to arrive at a credit score from the information contained in your credit report. 

If you are interested in getting a copy of the book for just $7, you can visit the website at www.fix-my-poor-credit.com.

Here are a few of the topics written about to help you improve your bad credit:

• What’s a good credit score? And at what score should I start to be worried.
• Even if you pay all your bills on time, you may still have marks against your credit.
• 3 ways to boost your credit score (and it’s not just paying your bills).
• 4 steps to take right away if you think you’ve been a victim of identity theft. It may not be too late.
• After you contact the credit bureau about an error in your credit report, make sure you contact these people next.
• The truth about “free credit reports” online.
• How to use your bank as an ally in your fight against bad credit.
• When a “late fee” is easily waived.
• The secret to handling student loans (and when you may be able to award yourself a six month grace period on paying your bills).
• AND MUCH, MUCH MORE

Whether you are trying to dispute your credit report, trying to increase your scores to buy a home, or just want to have the best score possible, this  59 page ebook is for you.

Better yet, it’s on sale through the holidays for only $7. At that price, it’s a no-brainer!

You can get it at www.fix-my-poor-credit.com. Don’t procrastinate, as the price is set to go up after the holidays!