Secrets for Building A-1 Credit After Bankruptcy
Here is a game plan for
rebuilding your credit after bankruptcy. These methods have been used by millions and are proven to work.
1. First, pay all your bills on time. That includes your utility bills. No late payments.
2. Second, get yourself a good secure credit card. You'll have to put down a cash deposit which will be held as security for your future charges. Be sure the card you choose reports all transactions to the three credit reporting firms.
3. Then open a passbook savings account at your bank. When you've got around a thousand dollars in it, approach a banker and ask to borrow half of it. This is a quick way to rebuild a damaged credit rating. Be sure to ask if they will report the transaction to the credit reporting agencies.
4. Apply for one department store credit card. These stores charge astronomical interest rates so they'll be more eager to overlook your past financial problems than a big credit card bank. Gasoline credit cards are another good bet. If the application asks what kind of car you drive, be sure to list a real gas hog. No sub-compacts with stick shift, or hybrids please.
5. Six months later apply for a second department credit card or gasoline card.
|
 |