Bad credit repair

[forgop]

Originally Posted by Blueface

Not an expert on this but I believe it is critical to not only look at what you did in the past but also what is it you are doing now.

Reduce your debt to credit ratio.
If you owe over a certain amount of your total credit line, it very negatively impacts you.

True. Ideally, you won't exceed 25-30% of your balance/limit ratio in a typical month.

Originally Posted by Blueface

Reduce the number of credit cards you have.
Close out as many as you can. The more cards you have, the less credit worthy you are and hence lowers your score.

False. Closing accounts can negatively impact your score because you decrease your available credit. If you have $20k in available credit and you eliminate $10k in available credit, you DECREASE your score in that you have a much harder time lowering the balance/limit ratio if balances are any issue at all.

Originally Posted by Blueface

Pay all your accounts on time, without any exceptions. Don't hit 30, 60, etc, lists.

True