Rebuilding Your Credit

October 11th, 2007|| · No Comments ·

If you have less than perfect credit, there are ways to raise your score so that you can build a secure financial future. Since your credit score is used by credit card companies, lenders, mortgage companies, rental agencies, and car insurance companies to judge how responsible you are with financial matters, you may be denied or offered a much higher rate than you can afford. Raising your credit score can help you qualify for lower interest loans, car insurance premiums, and lines of credit.

Since loans can be more difficult to receive if you have a low credit score, you may need to find lenders who cater to those with lower scores. Compare loans from these lenders because many times they may differ in the terms offered. Compare credit cardsoffered to those with low credit scores. If you don’t need a credit card right now, it may be better to wait until you can qualify for a card with lower interest and fewer fees.

Paying expenses like car insurance, loans, and credit cards on time is a great way to rebuild your credit. Compare car insurance premiums from different companies to see who has the best deal. If you can, lower the amount of coverage so you qualify for a lower quote.

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Tags: Loans

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