You may be in the market to buy a home or maybe you want to rent an apartment, but you can't because you have bad credit.
Experts say there are ways to raise your score. But, you have to play the credit game. The first step is being dedicated to getting your credit back on track.
13 ON YOUR SIDE recently talked to Garr Russell with garranteedsolutions.com. He specializes in repairing credit for people who want to buy a home. He says a credit score is based on things like payment history and credit limit to balance.
Russell says you have to build positive credit. If you don’t have one already, Russell says, “Get a small limit credit card, take the credit card and put a bill on auto-pay. DTE is a good one because they report to the credit agency every month. And when you get your credit card bill in the mail, you know it's $80-$100. Pay your credit card bill and now you're playing the credit game."
Russell says to start out small. Cut up that card if you don't trust yourself with it. But keep those automatic payments going. In 6 months or so, he says you will see your score rise.
Bottom line, if you don't have a positive line of credit going, creditors have no way of judging your credit worthiness.
In the end it, it will determine what kind of rate you get and whether or not you get a loan.
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