by Marshall Brown

Created on: December 18, 2008

Raising Your Credit Score- Without The Risk

It can be very frustrating when you hear the famous line, ".Bad credit is better than no credit.." When first-time purchasers of homes and automobiles, step out and reach for a loan from a bank, they are often surprised to hear that remark. Financial experts advise the opening four or more credit lines by applying for credit cards. There are far less risky actions that anyone can take to raise their credit score, it just takes time and patience. Experience can sometimes be the best tutor for anyone desiring to take the steps to improve their self-image, to a world that bases value on credit rating.

Why Not Credit Cards?

Credit card companies are very persuasive in presenting themselves as a good deal. With the credit card crisis that has taken the whole world by the pocketbook, people are starting to realize the hazards that those companies present. We all have heard the term, "Read the fine print." Well, for those out there who are serious about helping not hurting their financial future.. Listen up! That great feeling of receiving an unsecured (no deposit of your own money required) credit card in the mail, and the thought of free money sounding good. Oh, I know, you intend to pay it back. Then, when the card is empty, you start to feel the burden.

If you only pay the minimum amount, you are only paying the interest. If you pay a little over, you find yourself paying on a five-hundred dollar credit line for a year or two. If you miss a payment, just one! You can be penalized by way higher interest rates, and it keeps climbing. Even when, by no fault of your own, the company doesn't process your payment onto your account by the due date, you receive the same treatment. So.. Do you really want to risk your hard earned dollars, for a moment of luxury? There is a better way.

Simple, Efficient Credit Building

Granted, it takes a couple of years to really bring up your credit score or to have it established into existence. A little research into the sources of credit that I will be listing can be crucial. When it comes to your score going down, it's a good analogy of your grades in school. They go down quick, and take time and effort to raise the grade.

Small Loans

There are many payday loans, and checking account loans available without a credit check. Now, here is the key Ask the company offering the loan, if they report to the credit bureau. If they do not, and some don't, move on, they can't help you. When you do

• 1
• 2
• Next Page >>