*Loan,banking and credit>>>credit repair

Best way to repair credit?

1) Understand the credit scoring system: http://financialbasics.blogspot.com/2006...

2) Simplify your life and make a budget: http://financialbasics.blogspot.com/2006...
http://financialbasics.blogspot.com/2006...

3) Use all extra money towards debt payments, starting with those with highest interest rates.

Good Luck! Source(s): http://financialbasics.blogspot.com...

Start paying your bills when they are due. If you continue this over time, your credit gets repaired and will improve.
There is a website called Prosper.com that has links to other websites to help repair credit. It also has message boards with advice. It is very informative.
Because I only worked with cash my credit was not looking so good. My answer was to get a few credit cards and use them for my daily needs and then pay the bill twice a month. My credit is a lot better now. Now I move on to plan 2. I will be buying a car with the help of a loan..........the cash is in the bank and will be used over the next year or so to pay off the car quickly. My next step will be to get my own home. Also now working on getting stocks, bonds and so forth.
Charge and pay. For transactions you would normally pay cash for charge and pay before interest kicks in. Card companies hate this but it shows a good payment history. Also keep your cards at no more than 30% of total limit.
There are 4 main factors that impact your credit score.

1. Length of credit history
2. Payment history
3. Credit used vs. credit available ratio
4. Credit inquiries.

So to improve your credit score, you need to primarily pay at least the minimum payments on time every month, reduce the amount of your credit balances below 25% of your available credit, and stop requesting additional credit from stores and credit cards. You should also keep your oldest credit cards open. Also, do not close any credit cards with zero balance, because that will reduce your credit to available credit ratio.

If you do these things, your credit will rapidly repair itself.