HOW TO FIX A DAMAGED CREDIT HISTORY USING REBUILDING CREDIT CARDS
Credit card debt is one of the most dangerous kinds of debt possible and the one that gets people into money problems more than any other. They are also, curiously enough, one of the best ways to rebuild your credit, but only if done carefully and with tight controls. This is where rebuilding credit cards can come to the rescue. These cards are specifically designed to help people with bad credit rebuild their scores. If you are suffering from a low credit score and would like to rebuild with rebuilding credit cards, here are a few tips to help the process and get your credit rating back on track.
Step One: Never Use it Unless You Have the Money
Credit cards, whether they are rebuilding credit cards or normal ones, are a way to incur debt. You can do this when you have the money in your bank account or don’t, but one way will be sure to get you paying interest. Instead of paying for things and pushing it onto your next paycheck, only use your rebuilding credit cards when you already have the actual money available.
Step Two: Pay it Back After a Few Days
When you do pay it back, don’t do so right away. Instead, leave a few days between and then pay it off. This helps build your credit score faster and shows that you can carry debt and pay it off before it starts to incur interest.
The reasoning behind waiting a little before paying off your rebuilding credit cards is that the longer the money sits before it incurs interest, the better it looks on your credit score. If you pay it off right away, it registers more as a blip than an effort to pay it off after having incurred the debt.
Step Three: Keep the Balance Low
As anyone who has had a credit card ride close to the limit before, the amount of dues and fines and fees add up extraordinarily quickly. This includes fees for being close to the limit and interest as well. So when you are trying to rebuild your credit, don’t let that balance owing climb uncontrollably.
Step Four: Talk to Professionals
While using the right credit cards with the right plan in place can help you save money and rebuild your credit, none of it matters unless you also have a complete debt control plan. In order to get your finances under control and rebuild your credit, you will need to get help with all of your finances.
Professional debt counselling services can offer you a wide range of options for rebuilding your credit and getting your finances back in the clear. These can include access to rebuilding credit cards, help disputing charges and more.
If you have found yourself in financial trouble and need to get your finances back in order, then be sure to contact Credit360 Credit Repair. Our debt experts have the tools and knowledge to help you rebuild your credit and start living a life with less financial worry. Contact us today to learn more.