The best way to increase your credit score is by shopping at stores that sell expensive items. You can establish a credit account at a store that sells appliances or furniture. These establishments specialize in extending credit to individuals who have declared bankruptcy. Charge-card issuers are another option, but they may not be as convenient for you as opening a charge account at a store. The second option is preferable because, despite the high interest rates, it will help you significantly improve your credit score in the long term.
When you are shopping, reduce the price of the objects you are purchasing by fifty percent. You must make a substantial down payment so that the account can be paid off more rapidly. This will also decrease the quantity of interest that you will be charged.
Opening a secured credit account is a further step towards enhancing your credit score. A secured credit card account will ensure the safety of your Mastercard or Visa. Those managing your secured credit account will deposit funds into a bank account for this purpose. Later, you can choose an issuer and convert the account to an unsecured one through that issuer. This will be for a specific duration. Within six months of making on-time payments, this can help improve your credit score. You may initially perceive the interest rates to be excessive. However, if you maintain a regular account and make all payments on time, you can expect your credit score to increase.
Additionally, paying your bills on time or even early will help develop your credit score. In addition to paying your bills, you can also pay for the assets you were able to retain after filing for bankruptcy. This may include your mortgage and auto loan. Lenders will value the fact that you are now responsible for timely bill payment. You may also wish to open additional accounts to boost your credit score.
Last but not least, you must scrutinize the report for errors. Each year, a complimentary copy of your credit report may be provided to you. You can also opt to receive a report every four months to identify any errors or negative information. If there is an error in your credit report, contact the credit bureau immediately to let them know.""
" - https://www.affordablecebu.com/