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How to repair your credit score by yourself

Having a bad credit is completely horrible, but it happens. Poor credit leaves you unable to apply for new credit products such as a credit card, although, it does not deter you from taking out auto loans or applying for a mortgage, it just makes you liable to being charged a lot of interest because of your bad credit. When you compare the mortgage you take out on a bad credit, you might end up paying about $50,000 interest more in mortgage, than when you have a good mortgage.

The good news however is that you can repair your credit score, on your own, yeah, without paying any company. The following include ways by which you can do this.


Know where you stand

The first thing you have to do is get copies of your credit reports, credit scores are usually in the range of 300 to 850, a score that range between 700 and 740 depending on the scoring method you make use of also determine the nature of your credit be it poor or good.


Dispute the errors you find

Errors occur rarely but they do occur. You should confirm based on your credit report the presence or absence of errors, if errors however exist, make sure to dispute them. Do not dispute, if you there are no errors in the report and make sure to have proof.


Pay your bills on time and settle your debts

When the error is over, and you are still behind on any of your payment, you need to make sure you clear all your debts, clear your credit card balances and pay all your bills early so you don’t get caught up in it.


Do not apply for new credit

Enticing offers will come for you to open up a new credit card, but make sure to not give in to these offers. Getting new ones might affect your credit card balance, so make sure to stay away for a while as if you apply for too many credits within two years, your credit score might suffer.

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