Rebuilding Your Credit Can be Easier Than You Think

Worried that your bad credit score will never go away?  Maybe your credit score is so low that you think it’s useless to even try to rebuild it because it will never happen?  Believe it or not, there are millions upon millions of people who are or have been in the same boat you’re in.  It really doesn’t take much to ruin your credit when you think about it… you lose your job and have no way to pay your bills, you get a divorce and your former spouse ruins both your credit scores, you have a serious or even catastrophic illness and can’t work… it happens.  But, once you’re back on your feet, what can you do to turn around your credit score?

Well, obviously, if there are any old bills that are unpaid or in arrears, the first thing you want to do is to get them paid up to date or paid off, whichever you can afford to do.  And you need to keep the payments on those bills current so that you can start rebuilding your payment history, and hopefully, your available credit may improve, depending on whether or not you still have open credit lines on any of your credit cards.

But, what if you have no credit whatsoever?  What then?  How do you begin to rebuild credit when you have absolutely no credit?

Although it is really hard to get credit when your score is at it’s lowest point, it can be done.  Here’s an option to consider if you want to rebuild your credit without having a family member put you on one of their credit cards, cosign for you, etc.:

Secured Credit Cards:  Secured credit cards are one of the easiest ways to get an actual credit card when absolutely no one will give you a credit card.  Yes, you do have to put up a security deposit that’s typically equal to the line of credit that you’re requesting, but the security deposit will simply sit in an account and you’ll use the card exactly as you would a credit card.  You’ll make purchases on the card, you’ll be charged interest, and you’ll make payments on the card.  In turn, the credit card company will regularly report your available credit and your good payment history to the credit bureaus, thus helping you to get back on the road to a better credit score.  Are there downsides to secured credit cards?  Of course there are, but if you’re serious about rebuilding your credit score, then the downsides will be minimal.  And you can shop around – some secured credit cards are definitely better than others!

Rebuilding your credit can be done and it doesn’t have to take forever, either.  You just have to get started, be diligent, and it will happen!

The Fastest Easiest Way to Rebuild Your Credit

Looking for the fastest, easiest way to rebuild your credit?

Not an Access Card

Rebuilding your credit can often take years, especially if you don’t really know the ins and outs of your credit score, how it’s calculated, and the steps you can take to raise a low credit score.  And then there’s the whole no one will give you the credit you need to start rebuilding your credit score problem… yeah, it’s tough to get credit when you have none.  But, there are ways that you can get credit, build or rebuild your credit score, and get on the right track financially without having to wait months or even years for your score to creep back up on its own.

Typically, there are two ways to get credit when your score is very low – either open up a secured credit card, or apply for a credit account with a company that specializes in working with people whose credit is less than perfect… and that’s where Fingerhut Credit comes in.  That’s right, Fingerhut.

Unlike a lot of creditors, Fingerhut typically approves nearly everyone for an unsecured $300.00 line of credit that you can use to buy merchandise from either their online store or from one of the many catalogs they send throughout the year (my personal favorite is their annual Christmas catalog).  And, once you’ve actually used your account, made regular, on time payments, and proven yourself to Fingerhut, they will normally increase your credit limit.  And those credit limit increases and your continued regular payments will be reported each and every month to the credit bureaus… helping you to raise your credit score.

But, how does a Fingerhut account help your credit score?

A Fingerhut Credit Account issued by WebBank helps your credit score in two different ways.  First and foremost, you’ll actually have “available credit” reported to the credit bureaus, and your “available credit” makes up about 30% of your credit score.  Keep your available credit around 65-70% of your total credit and your score will be even better!  And secondly, your regular, timely payments make up another 30% or so of your credit score.  So, every time you make a payment on your Fingerhut Credit Account, you’re actually building a new payment history, and eventually, your regular, timely payments will also help you to rebuild your credit score.

But what about the products that Fingerhut offers?

What about the products!  Unlike the mail order catalogs of old, Fingerhut actually offers hundreds of thousands of name brand products at competitive prices!  Products you use every day… clothing, shoes, jewelry, small appliances, toys, and even furniture!  All shipped straight to your door in a matter of days.

What’s stopping you from opening your Fingerhut Credit account?

Nothing – it’s as easy as entering your name and address and find out now.