How to Repair a Bad Credit Score, Today!

To begin with, if your credit has suffered a dent (or even a major hit) over the past year or so, don't get too discouraged. Yes, you really should have a good credit score. No, if you don't then it's not the end of the world. Just start wherever you are and start making things better.

The first thing to do is to stop damaging your credit. In other words, don't make things worse. How do you do that? Well, for one, pay all your bills on time. Now, that might mean that you need to budget your money differently from the way you have been, and also it might mean that you have a second income source...part-time job, eBay business, selling some of your belongings. But whatever you do, you need to stop the downward trend.

The next thing you want to do is to start paying off the balances on your credit cards. Especially if you've got cards that are maxed out. Besides making the minimum monthly payments, you need to start paying off the money you owe. You do this by selecting the card with the highest interest rate and paying as much as you can on it each and every month, then you go to the next card, and the next and the next. A famous debt counselor, Dave Ramsey, calls this the "debt snowball".

Another thing you need to do is to look at your credit report and see what it says. You might have charges on there that you didn't make. Credit reporting agencies are notorious for making mistakes on people's reports. Just by cleaning up your credit report, you can raise your score.

Yet another thing you can do is actually something you don't want to do. You don't want to get any more credit. No more credit cards, no more loans of any kind. If you're overwhelmed, then it's time to stop digging the hole. You're can't dig down and dig your way out of a hole. You get out of a hole by climbing upwards.

To learn more about credit and how to use it, visit Patricia's blog My Free Credit Site.

There you can find articles about credit cards, hints about credit reports, and virtually anything you'll need to better your credit and not get ripped off.

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