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Buy a home with bad credit

Using Your Credit History to Your Advantage in Credit Repair 101

23 Jan , 2015  

Admit it: you hate looking at your credit history, and sadly that’s largely why your credit score’s so bad. You might think these credit repair techniques won’t work with the dim outlook of a measly 500 credit score, but guess what: you can even use a spotty credit history to your advantage. But how?

Consider This: No Credit History Is Actually Worse!

That’s the one thing probably worse than a bad credit score; it’s no credit score at all. At the very least, you could potentially have a chance in obtaining a car loan or a zero-down home with bad credit with some assistance from Lexington Law professionals; but they won’t be able to help you if there are no negatives to fix, and a lender certainly won’t be able to approve you if there’s no data to gauge you on!

In other words, you have to do the impossible, perhaps, as a budding college student: get a credit card! Scary, right? Slam dunk? You might break the glass backboard. At the very least, you’ll do the one thing you, as a future professional in our employment market, have to do — you have to build your credit.

Things You Can Do in Building a Credit Historycredit repair slam dunk

Don’t go crazy, of course. Start small.

  • Buy candy bars on credit
  • Buy gas every once in awhile on credit
  • Buy your books on credit
  • More importantly, pay the balance back immediately!

It’s the payback that’ll get your credit rating to go sky high. It shows lenders that you’re responsible. You could have dozens of accounts on your credit report, and it won’t really show anything negative if you’re paying on all of them on time.

Hitting the 3-Pointer of Credit Repair

Don’t take my word for it, though. Try it. Let’s say you already have a pretty stained credit history from way back. Some accounts got closed out and others were settled, but the fact of the matter is this — lenders will look at what you’re currently doing. If you have just one loan or credit out that’s active, and you’re paying on it, then you’re golden.

One thing’s for sure: that’s better than having no credit history at all. Score!

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