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June 12, 2007
Bad Credit and James Story
It is my personal mission to help folks with their finances, in fact that is exactly why Crediteria exists. The goal of this site is to help average people and small business owners avoid the pain of debt.
Debt leads to:
1. Bad credit
2. The erosion of personal relationships
3. Misery beyond belief
The above points were what I extrapolated from my conversation with James. He was in ruin because of some poor choice he made early on in his life.
A few bad decisions made James self-aware of where he went wrong. He realized his bad credit decisions and now wants to rebuild his financial life.
When James contacted me, I offered him the same advice I provide to everybody. My advice is this simple:
Credit repair begins with proving to lenders that you are credit worthy.
How do you prove this?
Easy! Get another line of credit and pay it according to the terms and conditions.
The best credit card for re-establishing credit is the Imagine Credit Card mainly because of the low fees and low limits provided by the card.
Having a low limit will keep you from further financial ruin if your spending habits aren't that good yet and it will rebuild your credit when you pay your bills on time.
Remember that in order to rebuild your credit with a credit card (or any other loan) you must pay your bills on time! Failure to pay your bills on time will result in your credit score taking a serious nose dive!
Again, I really like the Imagine credit card because it provides you with a second chance to restore your credit without getting you too far into debt all the while not gouging you on fees.
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