Thaindian News

Sep 24 (THAINDIAN NEWS) For those with bad credit scores, it can be a very difficult, slow and tedious process to try and fix it. There are a few ideas, however, which can speed up the process and make it a much simpler job.

1 Paying down your credit cards is a good way to help. Although paying off the installment loans may help slightly, the impact will not be nearly as much as paying down the revolving accounts, such as credit cards.

2 Don’t use the entire credit line which you have each month. The available credit is rounded out for you billing cycle, and sometimes this is less than a 30 day cycle. Your credit score can still sink, even if you pay these off every thirty days, since sometimes, those payments are actually late.

3 Be sure your credit limits are reported correctly by your credit cards. If the credit report does not correspond with your actual limit, you can call the companies and request that this be updated.

4 Do not use credit cards that do not report the credit card limit. American Express and Capital One are examples of this problem, which can make you look as though you are maxed out.

5 Ask someone with “old credit” to add your name to their card as an authorized user. If that person does not feel comfortable with you having a card, they do not have to give you one, since just having your name on the account will lower the credit score.