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How to Rebuild Your Credit
C . Limit the number of inquiries into your credit and don't open several new accounts at once . The fact is, too many inquiries over a short time period may be perceived as an indication that you are seriously seeking credit, perhaps due to financial troubles or desperation. Similarly, opening several new accounts at the same time could also be seen as a sign of a rough financial patch. To avoid this perception, be choosy when you shop for credit
and limit the number of creditor inquiries. Plus keep your credit accounts to a minimum.
D .Check up on your credit report at least once a year . Chances are that even if you’ve been good about paying your bills on
time, there may be incorrect or outdated information on your credit report that is hurting your credit profile. To ensure the accuracy of your credit report, the FFEF CreditScore Review will help you understand your credit report and teach you how to improve your credit score and dispute any errors that you find on the report. Ask your FFEF Counselor about obtaining an FFEF CreditScore Review.
E . Apply for secured credit . If bankruptcy is in your past or you have had your credit cards revoked, you need to demonstrate that you can handle credit responsibly. One way to do this is to apply for a secured credit card. A secured credit card requires a specified dollar amount to be deposited with the card issuing company. These funds are then put on hold and a credit card
is issued with a line of credit equal to the amount you have on deposit. If you make the agreed-upon payments for approxi- mately one year, the creditor may then release the funds held as security and issue an unsecured card. Be sure to look for hidden fees and charges. Take time to shop around for the best interest rates and lowest annual fees.
F . Apply for unsecured credit . A local department store may be more likely to issue you a credit card than a national creditor. If the store does grant you credit, demonstrate your financial