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Quickly and Effectively Rebuild Your Credit and Increase Your Score

At the start of the credit repair process people tend to focus only on removing the bad items. Many times people will start without any open accounts. This won’t get you the results you need to see. Thankfully this is a situation that can be fixed and we’ll show you how here.

There is a common misconception that bad items are the main factor in determining your score. In reality it is just as important to have positive current activity. In order to see real improvement in your credit score you should be reporting positive items to the credit bureaus each month.

So What Can You Do?

The first step you need to take if you have no open accounts is open one. That probably sounds like the last thing you should do but hear us out. While you may still be able to get an unsecured credit card your best bet may be a secured one.

So What Exactly Is a Secured Credit Card?

A secured credit card can be a powerful credit building tool. Basically a secured card is backed by collateral that you provide to “secure” the card. For credit building purposes it’s usually a relatively small amount of cash that becomes your credit limit. This protects the creditor and allows you to create a positive revolving debt. Be sure to keep your balance low and your payments on time.

Take Advantage of An Authorized User Account

If you have a relative with a good credit history see if they will put you on as an authorized user. This option won’t be available in every situation due to family circumstances. But if available it’s a great credit building tool.

The process is very easy and requires no qualifications. They will require some personal information such as your social security number. The card holder simply calls the card issuer and asks to have a card sent to you for emergency purposes. Within 2 months the card should show up on your credit report and you will benefit from their good credit practices.

While the authorized user method is a simple way to boost your credit rating, it alone can’t “fix” your credit. Building credit for yourself as well as becoming an authorized user will get you back on the fast track to great credit.

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