How to Rebuild Your Credit: A Quick and Easy Guide

how to rebuild your credit score quick

After getting turned down for a loan, you might want to get serious about fixing your credit.

Your credit affects so many aspects of life, and getting turned down can be embarrassing and frustrating.

So, how do you do this? How can you learn how to rebuild your credit?

The answer is not that hard at all. With the right moves and with time, you can repair your credit yourself.

Here is a guide to help you learn the best techniques possible for rebuilding your credit.


Obtain Your Credit Report

To find ways to get your credit under control, you'll need to start with a copy of your credit report. You can request one for free once a year, so there's no excuse not to get one.

Additionally, there are apps you can use that will help you monitor your credit score, and most of these apps offer free services.


Dispute the Errors

Having access to your credit report gives you the chance to review everything on it. If you see negative postings on your statement, dispute them.

Disputing a post is a common event with credit reporting bureaus, and it's easy to do. You can do it entirely online.

Once the bureaus receive your dispute request, they must legally follow through by researching it to see if it is accurate or not. If it shouldn't be on your report, they will remove it right away.


Get a Secured Credit Card

Next, apply for a credit card that is secured. A secured card provides you with a way to build your credit by using a credit line and proving that you are responsible.

Lenders are willing to issue these in exchange for a small deposit they'll hold for a while. Once you prove yourself, they'll refund the deposit. This option also provides a way for you to build a positive payment history.


Have Someone Add You as an Account User

One great trick many people don't know about is having someone add you to an account they already have. Ask a parent, sibling, or close friend if they are willing to add you as an account user to a credit card account they have established already.

If you can find someone to agree, that person's credit history will post to your credit report for the card you are authorized to use. You could instantly see a considerable increase in your score if the person has a perfect payment history on this account.


Apply for an Installment Loan

The benefit of having an installment loan is the payment history it allows you to create from this point on. An installment loan requires making payments. The good news is that each time you make a payment, it posts to your credit report.

The result of this is that you build a positive payment history, and the history of your payments makes up 35% of your credit score.

You could apply for many types of installment loans, including quick bad credit loans.


Ready to Learn How to Rebuild Your Credit Quickly?

Are you excited to learn how to rebuild your credit score? If so, you should apply these tips right away. You never know what might happen to your credit score if you do.

If you'd like additional tips and suggestions for improving your credit score, check out more of our financial blog. Visit the Frugal Finance and Loans sections right now!