BOISE, Idaho — Credit is one of those things that, for some, can be hard to first achieve and then keep in good standing.
Building and improving credit is an ongoing process, but there are some steps you should consider if you’re in need of rebuilding your credit score.
Jim Reames with First Federal Bank says you should first check your current credit score and see how things look and where you stand. He says that at some point you may have to just dig in and start from scratch.
“Sometimes you just have to start over,” said Reames. “Sometimes it might be a secure credit card with your local bank and making payments on time and reestablishing that credit.”
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To do that, you should begin by paying your bills on time and then paying off any overdue bills.
Another step towards rebuilding credit is to revisit the dings on your credit score by pulling up your credit report on places like Experian and Equifax and looking everything over closely.
Reames says if you see something that doesn’t look quite right to you, reach out to them and say something.
“Inside that credit report, you can click on those individual credits, and you can make comments to them, and you can challenge them,” said Reames.
Though rebuilding your credit isn’t instant and can take 60-to-90 days to start seeing a change. Reames says you should be aiming for a credit score of at least 680, and adds that once your score is over 750, it’s really all the same.
You should also consider going to optoutprescreen.com, which turns off garbage pre-approved letters for credit cards just like a do-not-call registry. Reames says it’s quick and free, and doing this raises your credit score because you are no longer getting solicited as much.
Finally, be sure and keep track of your progress and think twice before opening any new accounts so you can comfortably manage the payments you already have.
