When you undertake credit repair there are two sides to the coin. First, the stuff on your credit report and second, the stuff you need on your credit report. Basically, if you have a lot of negative items on your report and very little good items on your report you have to look at both sides of the coin. You need to correct the bad stuff and you need to add more good stuff.
So, how do you establish more good credit when you have a bunch of bad credit? This is a good question. If you have tried a bank, they probably turned you down. However, you might not have approached the bank properly. The easiest way to establish new positive credit is with a secured credit card or a secured loan on a vehicle that does not have a lien. ‘Payday loans’ and cash advance services should be avoided. I have seen these kinds of services crush people financially.
Secured credit cards are available in numerous places. You can certainly find them through a Google search. What is a secured credit card? The simplest definition is a ‘debit card’ that reports to the credit reporting agencies. You will put money into the card to ‘secure’ it. You will have a credit limit equal to the amount you deposited into the card. Most of the time these cards do not require a check on your credit report. Most of these cards guarantee that you will be approved. Why wouldn’t they? You are giving them the money you are going to spend upfront. You must understand there will be some fees. These fees are justified. You must realize that these fees are the cost of rebuilding your credit. I know it can be a hard pill to swallow. The problem is nowadays, you have to have a credit card to do anything.
You should consider working on your credit profile before you apply for a credit card because even though you are applying for a secured credit card, you should also apply for an unsecured credit card. The reason for this is simple. If you can improve your credit profile enough, you might get approved for the unsecured card with lower fees and therefore you will save money. You could employ a credit repair service to fix your bad credit and help you to establish new credit. Or you can do it yourself. You can decide this by asking yourself two questions: 1) Do I have money to burn? & 2) Would I trade 2 hours of my life to save $600? We guess you are not answering yes to the first question otherwise you might not need a credit repair service to fix your bad credit. Writing credit repair dispute letters on your own is not difficult. It might take you a little while to figure out what to write and what to dispute if you search all over the web for it. Or, you can go to the best source on the web for free credit repair help. CreditBlossom.com is that source. On this site you are going to find all the advice you need to accomplish ‘do it yourself’ credit repair. The advice comes in both written and video format. It is simple. On top of that, you have access to the Credit Repair Letter Wiz™. This tool will allow you to write your dispute letters in a matter of minutes instead of hours. There are short videos on this site that show you how our Credit Repair Letter Wiz™ works.