| By :
Jim Kemish
Your Big Credit Repair Break If you have had credit problems and are in search of the best credit repair technique to boost your credit scores, look no further. The latest release of the FICO algorithm provides an amazing score boosting opportunity. In keeping with the spirit of FICO, this is not a magic trick, but a means of rewarding those who prove their worth. Here is the latest, most powerful way to add serious points to your score. New Accounts Count Most This awesome credit repair technique taps the hidden power of FICO. You made some errors in the past. Now is your chance to prove you can get back on the horse and ride. Your credit score is not just about your history, it is a way to rate your ability to manage the process of borrowing. This includes opening accounts, repaying promptly, and managing responsibly. And FICO is just waiting to reward those who can show that they are still in the game. The Easy Path Are you worried that you will be denied for new credit? Worry not. Secured credit cards are the perfect credit repair option. A small amount of collateral, usually three hundred dollars per card, will guarantee approval for some powerful plastic capable of rocking your credit score world. The best of these little secured cards will not consider your credit history, will report to all three bureaus, and will not even indicate a secured status. Old Accounts Still Count If you have read this far, have credit cards that survived the storm, and are thinking that you should not have to open more, alas, you are wrong. The key to this credit repair tip is to ride the wave, to respect and take advantage of the power of FICO. It is all about new accounts. This does not mean that you should scrap your old cards. Keep them alive and manage them right. Old is gold, but new will deliver the score boost you need. Card Management Secrets Once you have your new secured credit cards in hand it is up to you to manage them for the best results. And make no mistake, it is easy to blow it and miss your credit repair opportunity. You must make your payments on time, and you must keep your balances down. Everything you do with your new cards will communicate something to the scoring model. For credit repair purposes you should only use twenty percent of the card limit. Got it? The Big Pay Day For most people attempting to regroup after a tough time, two little secured cards will be worth over one hundred points within six months of the initial reporting date. It could be more or less depending on the overall depth and content of your report. A boost like this can make a life-changing difference. This type of improvement may qualify you for superior auto financing or even a mortgage. In the long run you may wish to phase out the secured cards in favor of lower cost unsecured cards, but that should be an easy path, as you will begin to see offers arriving in your mailbox before you know it. Good luck! Copyright © 2010 James W. Kemish. All Content. All Rights Reserved.
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