Now I know that most of you out there are like me – you want to get fast results with as little effort as possible. That is why we have been talking about how to repair credit fast. While there is certainly no quick fix for bad credit, there are some strategies that you can implement to achieve results more quickly.
In my last post, we discussed a few strategies for fast credit repair. They were:
- Disputing Inaccurate Information
- Becoming an Authorized User
- Paying Off Revolving Debt
- Paying for Deletion
- Disputing All Negative Information
Today, I thought I would share a three more things you should know if you really want to know how to fix credit fast.
How to Repair Credit Fast
….part 2
1. Get Your Rent Payment Reported to Your Credit File
Credit restoration is not just about cleaning up old items from your credit report. It also includes getting new positive credit so that potential creditors can see that you can and will pay on time. The trick is to establish new credit without getting in over your head!
One of the best ways to do this is to get items that you already have that are not in your credit report added. Since your monthly rent payment is generally one of the largest payments that you will have, this is a great place to start!
There are several companies out there that for a small fee, will collect your monthly payment and then forward it to your landlord. Because they collect the payment, they are able to verify that it was made on time and report this to your credit bureau.
This is a great way to get a credit history without actually getting into debt! (Now, I know getting one account added to your bureau won’t fix credit fast, but believe me, all these little steps add up!)
2. Get other Un-Reporting Items Added to Your Credit
Do you have a good credit history with a credit union or other company that is just too small to report to the credit bureaus? If so, you should try to get these accounts added to the credit reports manually. Some of the credit bureaus charge a small fee for this. Despite the fee, it is a great way to improve your credit history without actually getting into more debt.
You will simply need to obtain a written credit history from the creditor and then contact each of the credit bureaus directly. Provide them with your documentation, and if all goes well the accounts will be reporting to the credit bureaus within 45 days!
3. Pay Your Credit Cards On the Statement Cut Date
Do you have a credit card that you use but pay off each month? Many of us have these types of accounts, especially if we use them for business. If you want to understand how to repair credit fast, a great thing to learn is WHEN you should make your payment.
Most people do not understand that making your payment on the due date means that the balances before you pay is what will be reported to the credit bureaus. If fact, your credit score will be just the same as if you made the minimum payment and you will never see the benefit of paying your cards off each month. (Beyond the positive relationship it creates with the individual creditor!)
Do get the balance after your payment reported, your payment should be made prior to the date that the statement cuts. This simple strategy can yield big results with your credit score!
By the way, if you would like more help on how to implement these strategies, don’t forget to enroll in Credit Repair College today! We will help you fix credit score issues so that you can move on with your life!
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