How to Repair Your Credit Yourself

By Bob Jones Jun 4, 2023

Without numerous errors on your report, reputable credit repair services usually focus on disputing inaccurate information in your report and providing education about how you can manage debt and improve your score.

If you’re having difficulty managing debt and increasing your credit score, consider seeking help from a credit counseling agency instead of credit repair company. These nonprofit organizations provide free, impartial advice while being more likely to be held accountable by the Federal Trade Commission than for-profit companies. When looking for an agency, inquire about fees, pricing details and services before choosing one; be wary of companies unwilling or pushy enough to disclose this information.

One of the main contributors to your credit score is payment history, accounting for 35%. Missed payments – even just by one day or two – can seriously harm your score; paying at least the minimum balance will improve it. Ideally, set up automatic payments on existing cards if possible in order to never miss an installment again!

Your credit utilization should remain low, as this can play a significant part in your score. If you own multiple cards, try charging only small amounts each month (such as coffee or pizza dinner) and pay it off immediately. For larger debts that require consolidation loans from banks or credit unions to ensure lower interest rates.

Although applying for credit can temporarily boost your score by decreasing account age, it is essential to only do it when necessary. Each time a hard credit check runs against you it could reduce your score by as much as five points; this could significantly diminish your chance of approval or receiving favorable interest rates on loans and credit cards.

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Keep an eye on your credit score regularly by requesting reports from each of the three credit bureaus – this way you’ll see how your efforts are impacting it and catch any errors or anomalies that might pop up along the way.

Be mindful that it takes time and dedication to establish better credit, so don’t become disillusioned if your score doesn’t increase quickly. In particular, avoid falling for credit repair scams by paying any company that promises unrealistic results; there’s no such thing as an instant fix to boost your score; any company promising otherwise is likely trying to scam you into giving them your money – so follow our tips instead and start rebuilding yours now!

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