Credit Improvement

You either ended up on this page because you stated you have POOR credit
or you just have too much debt?

Poor Credit

Know that very few lenders (traditional lenders or non-bank lenders) will provide credit (new credit or consolidating credit) to borrowers whose credit score is under 640 FICO.

This leaves these borrowers with very few options.

In addition to some of the credit improvement tips below, these borrowers can also seek out federal help in the form of government grants designed to help them improve their financial situation and improve their lives:

Look into grant programs to improve your credit:

Invoice factoring or financing providing working capital business loans.

Too Much Debt

For borrowers with just too much debt and who are looking to find some relief from their creditors - seek to consolidate that debt into one, affordable monthly payment. Benefits include:

Reduce the overall interest you pay to creditors! Saving you thousands per year in interest fees!
Get an interest rate lower than rates offered by credit cards companies and others,
Taking back control of your debt and not letting your creditors set the rules!

There are many ways that potential borrowers can seek to improve their credit - whether their credit is bad due to past mistakes or whether they just have not established their credit as of yet.

In either case, all it takes is a little time and effort and a simple dedication to stick to a plan.

Improve Your Credit

The following are a few simple ways to re-establish a positive credit score:

Immediately work to pay-off any and all public judgements including collections or charge-offs. Once paid off, ask these creditors to remove any negative items on yoru credit report or make it part of your deal when you pay them back,
Pull your credit report and scrutinize it closely. If there is an item(s) that is not yours start a dispute claim with the credit bearue to get these items removed, and
Start rebuilding your credit by either securing a new credit card or loan. Make sure you pay these as agreed and use them sparingly. This will start to create a positive credit history going forward from this point.

Build Your Credit

The following are a few simple ways to establish or build a positive credit score:

To establish credit, you must have atleast three (3) trade lines. However, these three trade lines are not very hard to get,
For your first trade line, apply for a small department stroe charge card like with JcPenney, Old Navy, Sears, etc. When approved, use the card very sparingly once or twice and immediately pay off the amount,
Your second trade line could be from a cell phone account in your name. Go down and open your own cell phone account and pay it as agreed.
For your third trade line, take a small amount of money - say $300 to $500 - and put it in a savings accounts with your bank (make sure you covert the minimum and don't pay maintance fees). Then, ask for a loan against that acocunt. This is a secured term loan account. When approved, don't spend the money and in a month or two, use the same funds to pay off the loan.
Just make sure that you first pay each of these as agreed and do not abuse them or you will destroy your credit as soon as you start to establish it.

Please see each individual business's applications and guidelines for details about terms and conditions of offers. We take reasonable efforts to maintain accurate information. However the information presented is without warranty. When you click on the "Get Started", "Apply Now", "continue" or similar button or company logo you can review the terms and conditions on the lender's web site in most instances. Simply clicking a link does not guarantee approval or acceptance in any program.