Can Credit Repair Really Raise Your Score?

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When unpaid and overwhelming credit card debt completely obliterated your credit score and make it impossible for you to get a mortgage, or even a car loan, the possibility of repairing a bad credit score can be an attractive promise. But can credit repair really raise your score?

Credit repair firms are thought to be a legitimate way to help improve a credit score. However, this is not entirely true. Credit repair firms can improve your credit score for a short period of time, by raising your credit score by a substantial number of points. But eventually, your score will plunge back downs, leaving you in the same or worse situation

“This however does not mean you cannot improve your credit score.”

Listed below are some slower, but sure ways to improve your credit score.

1. Pay back credit cards on time.
Putting away your credit card bills under the pile of mail, does nothing to help your score. Pull them out, and pay them up. Paying your bills on time and for full value, accounts to about 35 percent of your credit score. It singularly the most important rule of repairing your credit score.

2. Pay off all debt fully.
Small unpaid balances on many credit cards do more harm than good to your score. Repair your score by clearing these small balances, then selecting one or two cards and using them to make payments for everything. In this way, you are ensuring your credit report is not adulterated by many small credit balances.

Don’t apply for new credit.

If you already have more credit than you can afford to pay, applying for more credit will simply put a dent in your score. If you apply for more credit when you have not paid off your current debt, you will make the task of repairing your score more daunting than is necessary.

3. Keep your credit utilization low
If you have a card with a limit of $5000, but you only spend 1700 per month, you are only using about 34 percent of your credit limit. If however, your credit is suddenly reduced to $2000, then you will be using more than 80% of the total credit available to you. It is hence important to pay back your debt as fast as possible to avoid having your credit limit drastically reduced.

So can credit repair really raise your score? The answer is yes. It is a slow and rather arduous task, but yes, credit repair can help to raise your score. Contact us for more information on how to repair your credit.