Repairing Your Credit Score The Right Way

Soon after you find out about all the negative information from your credit report, take measures to remove it especially when the negative information is not really yours. You can do this when the duration for a delinquency or bankruptcy has expired.

These are cases in which even after you have negotiated with your creditor and after having an agreement of settling everything with a fee with the understanding that either “Paid” or “Paid as agreed” will be entered on your report, your report shows that you are still in debt.

When this happen, you must take immediate action to remedy this problem with your credit score. First thing you can do above all things is to send a dispute letter to the credit bureaus and request that they delete such erroneous entry from your report.

You may send this letter with the use of fax, certified mail or standard first class mail.The standard first class mail is your best bet, considering you will be getting a mailing certificate guaranteeing that they have received your letter. You must have a copy of each document you send as a proof.

Next appropriate thing to do is to apply for a credit card, a departmental store or gasoline card, and then use it with caution. The deposit you pay to the credit card issuer will equal your spending limit. Given that the main reason behind getting a credit card is to repair your credit score, see to it that you don’t spend beyond 30 percent of your limit.

The reason is so obvious. The less you spend, the higher the increase on your score. The more frequent you go beyond 30 percent limit, the lower your score plummets. It’s suggested that you remain within such boundary so as to boost your credit score safely.