Search

How To Rebuild Credit Score For Free

Disclosure: At times I may include affiliate links to useful products that I believe to be beneficial. It doesn't cost you anything and I generate some revenue from it. Learm More
Sunday, January 9, 2022

 A few years ago I went through some rough times and used cash for everything which caused my credit score to drop dramatically. Things started getting better and I thought it would be a good idea to try to get my FICO score back up so I can start earning rewards from my purchases and eventually get a loan for an investment property. I followed a very simple approach to rebuilding my credit that should work for everyone and I'm going to share it with you for free.

My credit scores started out as "Good" but below average and when I was done my credit score is in the "Very Good" bordering on "Exceptional" range.

There is no quick fix but rebuilding your credit score is a a very simple process. You just have to show you can use credit responsibly over a long period of time. If you don't know how to use credit responsibly I'll show you how. I'll go into more details but basically you follow these steps to build your credit and earn rewards.

  1. Get a Discover IT Secured Credit Card
  2. Use the credit card for one of your regular budget items every month
  3. 5 days before the statement end date pay off some of the balance leaving no more than 30% of your available credit, preferably less.
  4. When you receive the statement, pay off the previous balance in full to avoid interest.
  5. After 12 months and your Discover IT Secured Card converts to a non-secured credit card, apply for another rewards card to earn more rewards.
If you follow these steps your credit should improve overall. Some months it may go down but at the end of the first year it should be much higher than when you started.
 

Recent Post

How To Rebuild Credit Score For Free

 A few years ago I went through some rough times and used cash for everything which caused my credit score to drop dramatically. Things star...

Sproxno on Instagram

Follow Sproxno on Instagram

My latest Instagram posts:

Most Reading