Very few people live their entire lives without inflicting any damage upon their credit scores. Whether it be high balances on credit cards, bankruptcy, collections issues or financing troubles, credit problems affect the best of us and are difficult to repair.
Fortunately, there are solutions to repairing bad credit and restoring faith with credit agencies and bureaus. All it takes is a little time and the right strategy, and before you know it, you’ll be receiving “Pre-Approved” credit offers in the mail again. One of the most effective ways to repair your credit is with credit cards, and I’m going to show you how.
“Bad Credit” Credit Cards
Believe it or not, there are actually credit cards out there designed just for people who need to get back on their feet. Most of these cards have middle-of-the-road APR’s with annual fees ranging from $40 - $100. Some also require an account set-up fee and other charges, which are expected with customers whose credit reports have black marks.
Credit Reporting
The most important thing to remember when repairing bad credit is that your card will not help unless the financial institution reports it. There are three major credit bureaus: Experian (1-888-397-3742), TransUnion (1-800-888-4213) and Equifax (1-800-685-1111). When you fall into collections or fall short of a loan, the financial center reports the debt to one or more of these credit bureaus, and that is how your credit is damaged. In order to repair that damage, financial institutions must also
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Small Business Credit Card Advantages
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