Monday, March 12, 2018

How to repair your credit

When you are younger, you might not pay attention to things like your credit. You might think that just because you don’t have credit cards, your credit can’t be hurt. When I was eighteen, I got sucked in to one of those cd clubs. Basically, you got seven cds for a penny, but you were signed up for a monthly club where you had to buy so many CDs over the course of a year. The CDs were more than you could get at the local store. I am sure a lot of younger adults were also sucked in. What they didn’t tell you is it could effect your credit if you didn’t follow through. I don’t think that they clearly explained the program. They targeted teens by putting the flyers in teen magazines. 

Even if you have bad credit from the mistakes of your youth, it can be repaired. Credit repair will take time and effort and money but you can rebuild it. A good way to improve your credit is to first pay your bills on time every month. Have an emergency fund for things so you don’t have to use your credit cards. No one likes medical bills but they happen sometimes. Talk to the office or hospital about making payments to pay them off. That way you are showing an earnest effort. You can also sign up for a secured credit card to build or rebuild credit. A secured credit card is similar to a prepaid card where you only have what you put on the card. 

You can also have “bad credit” if you don’t have a lot of credit. I have never had a real credit card. You can be turned down for things if you have not enough credit. I try to only buy what I can afford at that time. I figure if I can’t pay for it, I probably don’t need it. 

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