| Sometimes it seems as though if you go through a | | | | do to rebuild a bad credit situation. |
| tough period in your time, at least in the eyes of the | | | | In fact, you can get multiple of these cards and get on |
| credit card companies, you are toast. It seems almost | | | | a faster track to rebuilding your credit. Make sure that |
| impossible to get a new credit card. The problem is | | | | the prepaid credit card that you get does report to at |
| multiple things, one of the biggest of which is that there | | | | least one of the three credit bureaus, and if they report |
| are three major credit bureaus that blatantly advertise | | | | to more than one, then so much the better. What you |
| the fact that you fell behind on your payments a few | | | | are going to be doing is making sure that a very |
| years back. Your credit report from these credit | | | | positive report of your credit goes into your credit files |
| bureaus holds you back from rebuilding the credit you | | | | each month. |
| need. | | | | The thing you can do at the same time is to contact |
| But there are ways around this. It does not happen | | | | each of the three major credit bureaus, which are |
| overnight though, and is going to take some work on | | | | Experian, Equifax, and TransUnion, and get a copy of |
| your part. Despite a number of companies out there, | | | | your credit report from each one. It is critical that you |
| both online and offline, that claims it CAN happen | | | | get a separate copy from each one because they do |
| overnight, believe me, it cannot, and any company who | | | | not share information, and it is more than likely that |
| says that it can is probably running their company from | | | | they each have different information about you and |
| behind bars somewhere. | | | | your credit history. When you get the reports, go over |
| This is a multiple step process but with some focus on | | | | them with a fine tooth comb and look for things that |
| your part, it is entirely possible to get a poor credit | | | | are not right. Current reports indicate that you are likely |
| rating turned into a good one in a relatively short period | | | | to find multiple inaccuracies. When you do, then you |
| of time. The big benefit of doing this the right way is | | | | need to dispute that item with the credit bureau and |
| that it is entirely honest, legal, and ethical, and will | | | | get it corrected. It is the credit bureau's responsibility to |
| therefore stay in place for years to come, assuming | | | | either verify the information as accurate, or to change |
| of course that you meet your new credit obligations in | | | | it or delete it. This process will improve your credit |
| a timely manner. | | | | score and not make it look worse than it needs to. For |
| First of all, you can get a prepaid credit card. These still | | | | more information about this, you may wish to visit |
| have a Mastercard or Visa logo, but your credit limit is | | | | Raise Your Credit Score. |
| exactly how much you have on deposit with the | | | | Remember, your credit rating did not go down the |
| lender. If you put $500 on deposit with the lender, then | | | | tubes overnight, and will not come back overnight |
| your credit limit is $500. If you can only afford $200, | | | | either. It takes time and patience, but hopefully you |
| then it's $200. The size of the deposit and your credit | | | | have learned some things about credit during your |
| limit is not significant. What IS significant is that you use | | | | tough times, so now is the time to rebuild your credit to |
| this card, you never exceed your credit limit, and you | | | | the point where it needs to be so you can function in |
| always pay at least the minimum amount due every | | | | today's fast-paced society. |
| month, on time. This is one of the best things you can | | | | |