To repair your bad credit does not necessarily mean that you now have a good credit, absolutely not.
When most people have bad credit, they either purchase a credit repair book or seek a credit expert help. But before you do anything about your bad credit you need to understand few things that can be very crucial to your credit repair success.
Some people seek a credit expert's advice with the hope that a credit repair expert can do a better job of repairing their credit than they themselves could. In fact, the opposite is true. If you are not careful about who you hire as a credit advisor you can be in a deeper trouble, but that's beyond the scope of what we have room for.
Back to the TWO things you need to remember when you hire credit help:
1. There is no law available to any credit repair company, expert or lawyer that is not available to you as the consumer.
2. Credit repair companies use the same law made available to you by congress to repair your credit. And they can not change the law for their clients.
The above two simple statements might seem obvious, but repeating them like a mantra can be the difference between getting ripped-off and getting the credit you deserve.
Whatever you decide to do (either purchase a book or hire credit expert's help), you need to understand that once again, repairing your bad credit does not mean that you have an excellent credit.
It means just that: That you removed negative items from your credit report which caused for your credit to be bad in the first place.
Obviously, by removing negative entries your credit rating and credit score will improve, but you are far from having an excellent credit.
That's why a credit repair process need not be about just removing negative entries from your credit report. In fact, that's the beginning of the end. Today, you can find too many publications and credit expert's that would give you an advice on - "How You Can Repair Your Credit?"
But very few will show you or discuss the techniques need to be applied to earn positive credit rating. If your goal is to erase negative entries on your credit report, that's completely far from earning a powerful and positive credit rating.
In order to earn "Triple A" credit you need to add a good punch to your credit. Meaning, you have to learn "How to Add Positive Information" to your credit report.
Is it possible to add positive entries to your credit report? Absolutely.
Is it possible to add positive entries on your credit report in a short period of time? Absolutely.
Is it possible to get "A Millionaire's Credit in Less Than a Month"? No Doubt.
Here, you will learn two powerful tips that can give you "Triple A" credit in the shortest time possible.
Do you have a checking account and a savings account? Good. If you don't know worries, these days you can open an account online. It should take you no more than 5 minutes.
You got your accounts opened? Good, now comes the second phase.
Phase 2: Now you will need your savings account to use it as a collateral. Now using your savings account ask your bank for a secured passbook loan.
You can borrow a dollar for dollar with a passbook loan. This type of loan works well with as little as $300, but if you have $10,000 - that's even better. Once you secure a loan with a passbook you can not touch the funds until you have fully repaid the loan.
Remember, you should be able to do with-out these funds for 30 days.
A bank secured with your passbook loan has no risk in lending you money, so any bank should be willing.
Note: It is extremely important that the bank reports your loans to the credit bureau. Therefore ask your bank "If they report your payment history to the three credit bureaus?", it is critical part of this whole process. After all, the whole purpose of you doing this is to add zing to your credit report with a very powerful and positive payment history, right?
Now once you borrow the money, wait 25 days and repay the loan back to your bank. Because you have fully repaid your loan the bank will send your positive payment history to the credit bureau.
That's a grand slam!
Now you have the bank as your friend and the credit bureaus can not help it but report your good payment history.
2. How To Use $500 - $1000 into A Millionaire's Credit
With let's say a $1,000 in your account, ask the loan officer for a 12- month a $1,000 passbook loan. Do not be discouraged, you can certainly achieve this with less money, but if you can afford to do it don't hesitate. By the time you're done with this technique - - - well it'll be all worth it. Just wait and see.
Since this is a secured passbook loan (meaning, it is secured by the amount of money available in your savings) most banks will not run a credit check. And if they tried to do so explain it to them why they should not as it is secured by the money you already have in your savings account. Which you won't be able to access until you payoff your loan anyway, so there is no justified reason to run a credit check.
Now with the $1,000 secured passbook loan from your first bank, open a savings account at another bank with the $1,000 loan received from the first bank.
The request that they give you a $1,000 12-month loan and do not mention the loan received from the first bank. Wait about a week or two, go to a third bank and repeat the process.
Next, at one of the three banks open a checking account with the $1,000 you received from the third bank. You now have a$1,000 in a checking account and three outstanding 12-month loans at three different banks - for a total of $3,000.
Deduct your original $1,000 and you need only repay $2,00 plus interest.
Note: Make sure that you ask your bank if they have a pre-payment penalty because you do not want that.
Finally, about one week later start to pre-pay your three loans.
Now you have an advance payment record with three banks and will have established powerful credit for your credit report. From now on every type of loan and credit card will be yours for the asking.
Here you are with un-touchable credit, three big banks as your future business friends, and a credit bureau reporting positive payment history - all in just under 30 days.
You just learned about one of the very few techniques that can change your credit significantly within a month time. Of course you can apply these techniques for as long as you like and keep improving your credit. Apply these techniques discussed and you will get the Triple A credit you deserve.
Omar M. Omar is the owner of http://www.deleteuglycredit.com . It is a website dedicated to giving credit consumers free advice on how to repair credit. It provides credit consumers with information from the best credit repair kits, credit laws, and credit experts.