How to Repair Credit - without a company!

Lots of companies out there claim they know how to repair credit. But how to repair credit isn't some sort of copywritten secret. Anyone can learn how to repair credit, and you don't need to shell out lots of cash to do so.

The first thing you need to do before you can find out how to repair credit, is to find out what your credit report is. The three credit bureaus might not have all of the credit information; companies aren't required to report to all three. You are best off getting a free credit report from all three. You're entitled to a free report once a year.

Now that you have the credit information in front of you, you can make a plan on how to repair credit. The key to repairing credit is to highlight any deliquent accounts or any accounts that are past the credit limit. These are the two single biggest factors to your credit score.

At this point, the first step in how to repair credit is to make sure all information is accurate. Be ready to dispute charges and incorrect information. After that, handle all past due accounts, bring all debts to 'current' or 'paid' status; a late account will make a huge dent in your credit score.

The next important thing is to bring any over-limit accounts back under the limit. Credit bureaus track something called your credit utilization - the amount of debt you have out of the line of credit issued to you. This accounts for nearly 30% of your total credit score, so make sure that you have the debt as small as possible - or pay it off in full as soon as possible. At the very least, make sure all of your accounts are below the limit. Plus, that'll avoid all those over-charge fees!

From here, the next step you need in order to know how to repair credit is to look into establishing new credit. This might be difficult with your previous credit troubles, but once you've repaired some bad credit lines, look at opening a department store credit card (which can sometimes be easier to get) and only use it if you can pay it off in the same month. Continue to work at minimizing your high debt credit lines.

With these simple tips, you know how to repair credit. Sometimes it can be overwhelming, but the steps are quite simple and now that you know how to repair credit, make a plan, with small steps and knock them out, one at a time.

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