How To Repair Your Credit On Your Own in 7 Easy Steps

With a lot of businesses closing down and people losing their jobs as a result of the COVID-19 pandemic, it appears that credit repair services are sprouting like mushrooms.

As any person should know by now, losing a source of income usually leads to a delay in credit card payments. At worst, payments really become delinquent.

The effect: Your credit ratings suffer.

If you have a terrible credit score, chances are that you won’t be able to get approved for car loans, mortgage loans, or new credit card, among others.

Now if ever you do get approved for any loans, guess what?

You’ll have to pay a much higher interest rate on those.

Yup, that is going to suck the life blood out of you until such time as you get to pay off the whole loan.

Yes, that definitely sucks my friend.

However, don’t despair.

And please, do not fall for those nasty scams by fly-by-night credit repair companies that promise overnight success in repairing your credit.

You can repair your credit on your own by following these easy steps:

7. Know your credit scores.

The gods of credit have setup a credit scoring system that ranges between 300 to 850.

In order for you to qualify for the best credit cards and the lowest loan rates, you need to have a “good credit” rating.

Good credit rating is a score between 700 and 740.

You can get a free credit report via annualcreditreport.com.

Or, you can get them directly from the major credit bureaus: Equifax, Experian, and TransUnion.

6. Check if your credit report has any errors.

According to my credit repair expert source, as many as 25% of credit reports contain errors.

In most cases, these errors are enough to deny a person approval for any credit application.

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