How to improve your credit score 

So, you've had a recent series of events that were less than optimal. Maybe you lost your job, perhaps had an unexpected medical bill or two, or maybe you just got in over your head and took on too many bills at once. You missed a payment on a credit card, you maybe were late on another, and now you know your credit's just shot.

It's not the end of the world. Just as your credit card  score went down after a series of events, so can your credit score go up after a series of events. The trick is knowing what will work to boost your credit back up to where it was (or maybe even higher).

First, make sure you aren't in over your head. Does your income exceed your expenses? If so, great. If not, you may need to negotiate with some of your creditors in order to get yourself out of the hole you've found yourself in. If you have to make only the minimum payment on all of your bills at first, that's fine. Leave the best and lowest APR credit card until the last, and just make sure that as you are able, you increase the amounts paid to different creditors in order to pay those bills down faster.

Get a copy of your credit information (at least once each year) and make sure that everything in it is up to date and accurate. You could have things in your credit file that aren't even yours that are affecting your credit score! By correcting these, you are well on your way to improving your credit rating.

Another way of increasing your credit rating is to apply for store-based credit cards. These types of cards are typically easier to get, yet they help build your credit just like the major credit cards do. In some cases, getting a co-signer might help in your quest for credit. Ask a good friend or a family member who has good credit if they would be willing to do this for you. This can be a big credit card help  in re-establishing your credit.

Also, if you find you keep getting turned down when applying for a new credit card, wait a while before applying for more. A large number of inquiries on your credit history could be a negative thing.

Rebuilding your credit doesn't happen overnight; you do have to have some patience and work at it diligently for it to happen. But the rewards can be wonderful. Invest in yourself, you deserve it!

by  Peter Carville

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