| When I started to look into credit repair I was told, | | | | one of the major credit bureaus. These cards are |
| among other fast credit repair secrets, that I should | | | | often misunderstood because of the way they are |
| pay off all my credit card bills in full every month. Many | | | | marketed either by email or on the Web. They are |
| people, agencies gave me that advice. Boy is this | | | | often seen by the public as untrustworthy because |
| wrong! This is simply not true. I found that my debt to | | | | they make claims like "$5000 credit No Checks!", but |
| credit ratio was really important and then found a | | | | some of them are genuine. |
| simple process to improve your credit score. | | | | How does it work? |
| First you must understand your debt to credit ratio as it | | | | You apply for a card with a line of credit that is only |
| is the most ignored factor in credit scoring. Simply it is | | | | good for purchasing goods from a particular store |
| your amount of current debt to your total available | | | | (usually an online mall or catalogue). |
| credit. | | | | The company approves absolutely anyone and gives |
| For example: | | | | you a card with a $5000 limit for use at their store |
| Your available credit = $10000 | | | | only. When you buy something you are required to put |
| Your current debt = $2500 | | | | down a deposit and the rest is financed. So, for |
| Your debt/credit ratio = 25% | | | | example you buy $1000 of stuff, put $300 down and |
| Why do lenders like to see you DON'T pay off all your | | | | make payments on the $700 balance. |
| bills? Because they make most money from interest | | | | The fast credit repair secret is that the credit bureau |
| not charges, and if you maintain a balance it shows | | | | sees it like any other credit card. So, overnight you |
| your ability to pay long-term. | | | | have increased your credit limit and you are holding a |
| So let me give you just one fast credit repair secret | | | | balance. You will then receive pre-approved offers |
| making use of the debt to credit ratio and maintaining a | | | | from other lenders who have got your details from the |
| balance. | | | | credit bureau. Beautiful. A great way to improve your |
| The single most cost-effective tool is the use of a | | | | credit score. |
| sub-prime store merchandise card which reports to | | | | |