Learn About Credit & Income:

Credit Basics| Errors in Your Credit Report? | Understanding Your Credit | Repair Your Credit | Looking at Your Income

Repair Your Credit

Repairing your credit does not have to be difficult.

Pay bills on time: Your credit history, or how you have paid your bills in the past, often indicates you will pay in the future. Credit scores represent your most recent payment history. If you have had a problem, start paying on time.

Pay the minimum amounts: If you have a lot of debt, at least pay the minimum amounts. As your situation improves, pay more.

Keep credit card balances low: Use credit cards only when you know you can pay the balance.

Don’t open numerous accounts: When purchasing a new home, you may want to make a lot of changes. Wait until after you buy your home to make big purchases and save for items rather than opening new lines of credit.

Establish credit if you have none: If you have little credit, you may want to open a credit card account and pay the balance off when the statement is received. Do not forget that your landlord, utilities and auto insurance can also be used to establish credit.

Remember - credit scores reflect your payment habits for the last two years.

Next: Looking at Your Income

Credit Basics| Errors in Your Credit Report? | Understanding Your Credit | Repair Your Credit | Looking at Your Income