As good as using a credit card can be which helps you to purchase items that you can't pay for with cash and without having deposited money previously with your card provider, it can likewise be disastrous too.
This is because it requires a disciplined person to maintain one.
There's no way you'd expect to have a good credit score if you're the spontaneous buyer.
And this is the way many people run into problems and accumulate a lot of negative accounts on their file.
A good way to start when you've made a decision to pull out of this kind of mess is to spend some time reading through your report after you've received it from annualcreditreport dot com.
When doing this, get a plain paper, create three columns for the three versions of your file from the three bureaus - Experian, Transunion and Equifax.
Then you'll write out the negative accounts that you find in each report on the corresponding column in the paper you have.
You want to make sure that these accounts are removed from your file and your next move will be to dispute them with the bureaus using a dispute letter.
It is best to deal with the most outrageous accounts and the most recent ones first.
Accord them more priority because they do more damage.
But never forget that you are not supposed to challenge more than one account of dispute in your letter.
Since your ultimate aim in restoring your profile is to increase your score and make yourself more eligible for future loans, you should work towards reducing the expenses you make on your card to below 20% of your total.
For a total credit make-over, it is advisable for you to reach out to a repair agency or grab a restoration kit which will guide you through the entire process of self-help and rebuild a good profile.
This is because it requires a disciplined person to maintain one.
There's no way you'd expect to have a good credit score if you're the spontaneous buyer.
And this is the way many people run into problems and accumulate a lot of negative accounts on their file.
A good way to start when you've made a decision to pull out of this kind of mess is to spend some time reading through your report after you've received it from annualcreditreport dot com.
When doing this, get a plain paper, create three columns for the three versions of your file from the three bureaus - Experian, Transunion and Equifax.
Then you'll write out the negative accounts that you find in each report on the corresponding column in the paper you have.
You want to make sure that these accounts are removed from your file and your next move will be to dispute them with the bureaus using a dispute letter.
It is best to deal with the most outrageous accounts and the most recent ones first.
Accord them more priority because they do more damage.
But never forget that you are not supposed to challenge more than one account of dispute in your letter.
Since your ultimate aim in restoring your profile is to increase your score and make yourself more eligible for future loans, you should work towards reducing the expenses you make on your card to below 20% of your total.
For a total credit make-over, it is advisable for you to reach out to a repair agency or grab a restoration kit which will guide you through the entire process of self-help and rebuild a good profile.