Best ways to rebuild fico score?

Answer 1

The first thing to do is to pull a copy of your credit report. The credit report is the best tool for finding information on where to concentrate your credit rebuilding efforts.

Do you have credit card accounts reporting? If not you need two or three to ad the most points to your credit scores. You need to be added to a family members active and positive reporting credit card as an Authorized User. The older the account, the higher the limit, and the lower the usage on the account, the better.

A merchant card can be added that give a high credit limit with a score as low as 500 points.

Are the balances reporting on a number of cards approaching the maximum limit?

If so paying down these cards can build your credit scores. 5 or 6 maxed out credit cards can lower your scores 100 to 125 points.

Of course one of your best friend is TIME. You must keep all tradelines paid as agreed. A recent late will do much more damage than three missed payments 3 years ago.

As you review your credit report, are their accounts you don't recognize? You will need to dispute them with the bureaus or hire a company to do it for you.

Keeping current with bills, adding positive accounts and removing negative, inaccurate accounts or accounts belonging to some one else will re-build you credit.