Introduction
Fixed credit can be referred to as repaired credit. Bad credit denies you a lot of advantages like paying low premiums for a policy in some insurance companies and getting unsecured credit cards. Fixed credit improves your credit score and saves your money in loans, insurance, and credit cards. A good credit score also has the advantage of opening you up to new employment opportunities.
History
The business of Fixed Credit in America has been active in the last ten years due to errors and inaccuracy issues relating to credit reports. In fact, a recent study revealed that 79 percent of Americans have credit related issues. The process of credit repair involves identifying errors, and monitoring of relevant bureaus to make sure your complains are looked into and corrections are made to your report.
Features
A fixed credit is featured with many advantages, the most important being, getting your finances back on track. This will increase our chances of getting a favorable lender. In the last 10 years, employers are also investigating prospective employees on their credit score and a favorable score may land you a job. A fixed credit will also assist you save a lot in auto or homeowners insurance. It will also save you from high credit card charges that are associated with bad credit score.
Tips and comments
To make sure a fixed credit, it requires fixing any errors that may exist in your credit history and then following the below tips to make sure that you maintain a consistent and a good credit history. This will however require a lot of discipline and patience
Check your credit report. This should be the first step towards ensuring a fixed credit. The report contains the data that has been used to calculate your credit score and you should go through it to make sure that there are no errors like incorrect late payments. Any errors should be raised to the credit bureau and reporting agency. According to the Fair Credit Reporting Act, the credit bureaus upon receiving your complains should resolve the disputes within 30 days and within five days upon completion of their investigation should serve the customer with a written notice of the investigation results together with a copy of the amended credit file
Reduce the amount of debt you owe. You should make sure that you reduce amount of debt that you owe by paying off big loans and avoiding new ones. If you have many credit cards, you should plan to first clear debts with those cards that have highest interest rates and pay minimum amounts to those cards that have low interest rates.
Use a secured credit card. A secured credit card when used properly can help you in fixing your credit if you make sure you pay the amount due at end month. Since an unsecured credit card will be impossible at this time, a secured credit card would be advisable. With a secured credit card, the issuing company gives you a credit line equal to the deposit you make. It is important to make sure that you make payments as soon as they fall due. The card should however be used lightly since when the credit bureaus are calculating your score, they use the balances on your last statements.
Pay your bills on time. Your FICO score can be affected by not paying you bills in time. You should utilize a payment reminder which is used by some banks or use of automatic payments arrangement which make sures automatic debiting of payment from your bank account to the credit card account or the loan account.
If it is hard for you as an person to attain fixed credit, you should engage the services of credit fixing company. Since there are many such companies, Internet should assist you in choosing the best that offers low rates.
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