If you have bad credit all is not lost and your credit can be rebuilt. The most important item to remember about building credit is your future credit score is:

Entirely in Your Hands

Only YOU can rebuild it and only YOU can make it worse 

These are our top 5 tips for rebuilding your credit. Follow them diligently and your credit score will skyrocket.

1. Let nature take its course

The reality is that over time, your credit score will gradually improve as the past bad marks become outdated. As time passes, they will and carry less weight within your credit profile overall. The fact of the matter is lenders place most of their analysis and scoring weight on your current and open accounts. Even you your applications are declined, once you quickly establish yourself as a good credit risk, you will be able to open a second chance checking account fairly quickly.

2. Money management

The key is to make making on-time monthly payments and keep your account balances. Over time if you continue to make timely payments this will help improve your credit score.

3. Payoff debts

Try and payoff all previous existing debts, including those collections and even judgments against you.  bear in mind that new collections and judgements will trash your credit. Also the balance on these accounts will play quite a key part on your credit score.

4. Minimize credit report inquiries

Frequent inquiries initiated by creditors and other third parties may lower your credit score. Most people do not understand this, so it is worth noting. Always try to cut down on finance applications that require your credit report to be accessed.

5. Pay with cash

Try and use cash to pay for items when you can. If you pay with cash or even a check, it forces an individual to quickly recognize the money that can be spent is limited to the funds in the checking account. Debit cards also serve this purpose, as the amount spent deducted from the account as soon as it is actually spent. This means choices about what you can afford to buy must be made, meaning the purchasing decisions must be prioritized. This discipline should help you to better manage your credit and stop you racking up more debt.

Before you apply for your second chance checking we recommend you obtain a free copy of your credit report and try and rectify the items on your credit report that are negatively affecting your credit score.

Click Here To Apply for our your FREE Credit Report