Rebuilding Your Credit

Now that you have your bankruptcy behind you, the next step is to start rebuilding your credit.    Start by paying your ongoing bills on time.   Second, and this may go against your better judgment, but getting a credit card is one of the most efficient ways to rebuild credit.   Length of credit history is an important factor in your credit score so the sooner you can establish credit the more it can help your score in the long run.

Get a card with a low credit limit and use it for one consistent monthly bill, like your cable bill.   Pay off the card in its entirety every month.

If you cannot qualify for a regular credit card, a pre-paid credit card is another option.   Scams are becoming more prevalent regarding pre-paid credit cards so make sure that the card is issued by a reputable bank.

Make sure you are on the right track by checking your credit report.   You can do so once a year for free at: https://www.annualcreditreport.com/

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