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How can I rebuild my credit quickly? Defaulted on a credit card for about 4mnths. & credit dropped 160pts. ?

Can anyone help me with the best advice on how to raise my credit score once again to a decent one? My other lines of credit are ok, and now I am repaying the credit card but it is now over the limit.

Asked By: fel435 - 12/3/2008
Best Answer - Chosen by Asker
Call the credit card company and ask the to waive any fees they applied (it wont hurt you if they say no) From here I would suggest to take a good look at your report, see what companies are reporting for you. From there you will see the "contact" address for the credit card, mail them a certified letter requesting... More
Answered By: Kristina M - 12/4/2008
Additional Answers (3)
You need to pay off the debt first. If you have to get a second job, do it to increase your earning. After the debt has been paid off, only charge small amounts to your credit card, and pay off the entire balance monthly without delay. Do the rest of spending in cash whenever possible so that you don't run up the bill... More
Answered By: Kay - 12/3/2008
 
It usually takes 18 to 24 month to get back on track. The important thing is not to spend more then you could afford. Forty years ago credit card cos threw money to consumers to spend, now they're regretting it. They're lowering the limits and canceling credit lines. I for one do not believe in major credit cards(visa.... More
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Answered By: stan c - 12/4/2008
 
I would add a tradeline program to boost your score quickly (60 days or quite possibly less). A friend in California used this and got a 120 point bump from 560 to 680. My friend in California went through www.totaldebtsolutionsllc.com and called their toll free# or filled out the free evaluation form to get the ball... More
Answered By: John - 12/4/2008
 
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