Rebuilding Credit

  • Pay your credit cards down and stop charging on those you can't afford to make the minimum payment on
  • Make payments on time, and make at least the minimum monthly payments or more if you can afford it. Making more than the minimum payment will reduce your debt faster.
  • Limit the number of credit accounts you have, your total available credit, and how much of the available credit you use.
  • Request a copy of your credit report once a year. This way, you can promptly clear up any errors that may appear on your report.
  • Start a financial plan- Controlling your finances means creating a budget that will help you evaluate your income and expenses and determine how much you can afford to pay each month for credit card and other debts. Tracking your expenses for a week will help you build an accurate budget.

If you have been having credit difficulties, keep in mind that it takes time to rebuild good credit. You must demonstrate responsible credit behavior each day as you spend, and each month as you pay your bills.