Friday, October 5, 2007

bad credit history

When I was younger, I’ve always told myself that I will never get a credit card since it’s just a temptation. I know of people who get into big debts because of their credit cards. I don’t know what pushed me to get one later on. I guess I just somehow believed that I’m disciplined enough to handle it. Well, unfortunately I can’t say that I’m handling it pretty well specially when I see a pair of pretty shoes and bags on sale! It really is hard to control one’s self from swiping that card during those moments. Anyway, I hope I get to pay off my credit card bill balance soon. I don’t want to end up with all those surcharges and get a bad credit history. Even if there are Credit Cards For People With Bad Credit available already I don’t want to be labeled as someone with a bad credit history. Oh well. I really hope I get to discipline myself more from swiping that card!

2 comments:

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Indira said...

Steps how to repair a bad credit history:
1 Step One
Pay all of your bills on time. Late payments (payments that are 30 days late or more) have a negative effect on your credit rating.
2 Step Two
Reduce the number of credit cards you carry. Write to your creditors to request that they close your accounts and report this status change to all three credit-reporting agencies.
3 Step Three
Avoid bankruptcies, tax liens (a lien for not paying state or federal income taxes or property taxes) and collections. A bankruptcy stays on your credit report for up to 10 years. But you can have a bad credit mortgage.
Collection accounts and paid tax liens stay on for seven years, and unpaid tax liens will haunt you forever.
4 Step Four
Request in writing that your creditors reduce the credit limits on your accounts to lower your amount of available credit. The total amount of available credit is considered by lenders even if you owe nothing.
5 Step Five
Ask a family member or friend to co-sign on a small loan or credit card to help you re-establish credit. Make your payments on time.
6 Step Six
Get a secured credit card to help reestablish your credit. You will have to keep a designated amount of money in an account that will be sufficient to cover your charges. Make payments on time.
7 Step Seven
Get a yearly copy of your credit report to catch any errors (see 'eHow to Obtain a Copy of Your Credit Report').