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Avoid Some Things while Build Your Credit Score

Five things to avoid if you want to rebuild your credit score. Such as failing to establish credit, avoid late payments; don’t use too much credit, using only credit cards and canceling old credit accounts. We ensure that if you follow these steps; you should rebuild credit score rapidly.

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Avoid Some Things while Build Your Credit Score

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  1. Avoid Some Things while Build Your Credit Score

  2. A credit card is often necessary if you want to make a major purchase, like a house or a car. Having good credit can help you get the best interest rates on a purchase you make using credit. Here are the five things to avoid if you want to rebuild your credit score:-

  3. Failing To Establish Credit Failing To Establish Credit You can't build a credit score unless you establish it in the first place. You have no credit or weak credit, one way to start is with a savings secured line of credit or a secured credit card, both of which are secured by funds in your deposit account. The bank will put a hold on the security deposit in your savings account so that you are unable to use it.In the long-run, this can help build savings and credit because once you pay off the loan through on-time monthly payments, you still have your original deposit in your savings account.

  4. Avoid Late Payments Avoid Late Payments Your payment history account, one-third of your credit score.If you don't pay on time and end up with bad debt, it will stick on your report. You don't pay and it gets reported to the credit bureaus, that will have the effect on your credit rating.

  5. Don’t Use Too Much Credit Don’t Use Too Much Credit Avoid the using of multiple credit cards. It shows discipline and maturity when you have a credit line and you consistently charge less than the maximum that's allowed. consider all the credit you have available to you, and try and use 50% or less to help prevent your score from going down.

  6. Using Only Credit Cards Using Only Credit Cards You should use the credit card. it is the best way to clear loan installment and solve other financial problems.

  7. Canceling Old Credit Accounts Canceling Old Credit Accounts It's important to hang onto the oldest credit card you have. you need to evaluate what it's costing you in annual fees and interest, but if you have a credit line that's in good standing and it's not costing you anything to have it, holding onto it may be very wise. Avoiding these five mistakes may help you build your credit tomorrow.

  8. Contact Us 59 Main Street, Suite 339, West Orange, NJ 07052 General Inquiries: 800-707-7492 Support Line: 973-500-6860 info@reliantcreditrepair.com support@reliantcreditrepair.com

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