Credit Repair Questions & Answers

Credit Cards

Should I pay my credit cards off every month?

It is great to be debt free! And if you are in the position to pay off your credit cards in full each month it is wonderful. But if you are in our credit repair program and want to do everything possible to build up your credit scores you should not pay your cards in full. Read More »

I have lots of credit cards, should I close some of them if I want credit repair to work?

You may close your cards selectively. The cards that contribute the most to your credit repair effort are the older cards. If you have more than five credit cards you can start closing by closing the newer cards first, but there are a couple of other considerations. Read More »

How many credit cards should I have?

In our experience, five credit cards will contribute to your credit repair efforts. More than five is unnecessary and is more likely to depress your scores than help them. By the same token, we notice that the vast majority of benefit is gained from the first two cards as long as they are managed properly. Read More »

I can’t get approved for anything, how can I rebuild my credit?

The success of your credit repair effort depends on the presence of good, open accounts on your credit report. The FICO scoring software needs some current indication of your ability to meet your obligations. Without open accounts your credit scores will languish and you will be disappointed in your credit repair results. Read More »

I just got a new credit card and my scores dropped, did I do something wrong?

You did the right thing by opening your new credit card, and it will produce awesome results. Your FICO scores fell temporarily due to the presence of the new untested debt, but before long you will see your scores rebound, and more. Read More »

Does the limit on a secured card have any impact on my credit repair?

Your secured card limit is not important. You can get as much benefit from a small card as one with a large limit. Secured cards are the perfect credit repair tool. Your credit scores are based on both the positive and the negative information on your report. Read More »

How long will it take for a secured card to help my credit scores?

This is an important question. Many people starting credit repair programs literally have no open credit cards. And without open positive accounts you will not see significant improvement in your scores. Secured cards are the answer. Read More »

Credit Repair and Credit Cards

We are aware that credit cards have been the cause of many credit woes. It is easy to purchase on credit, and easy to get in over your head. So it is ironic, but a fact of life in the world of credit repair, that you need credit to get credit. And even more to the point, you need credit to have good credit scores.

Your credit scores are based on both the negative and positive information on your reports. Many people enroll in credit repair services and focus on the removal of negative issues. It is exciting to see negative information removed. And the removal of negative information will lift the dead weight that is holding down your credit scores. But credit scores to not have natural buoyancy; without positive credit your credit scores will languish and your credit repair progress will be disappointing.

Many people starting a credit repair program do not have open accounts. The best, and most powerful, way to build new credit and get your credit scores moving fast is with credit cards. As tough as the credit markets are these days you may not get approved for regular credit cards. This is not an obstacle to getting the full credit repair benefit of revolving credit; you can get secured credit cards. Secured cards are every bit as powerful as unsecured cards.

Proper management of your credit cards is critical to your success. Well managed cards will lift your credit scores dramatically, in many cases as much as 150 points in a six month period of time depending on your starting point. But be careful, as poorly managed credit cards can easily be your downfall. And there is more involved than just making your payments on time. The other decisive factor is your balances. Your credit card balances can make or break your credit repair success. A maxed out card, even with a perfect payment history, can devastate your credit scores. For credit score optimization and credit repair success, only use 20% of your limit.