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(EMAILWIRE.COM, December 01, 2006 ) Detroit, MI - There has been a lot of noise lately about being able to repair your credit using credit cards; hopefully this release may clear up and validate some of what is being claimed there. First, you have to define the status of your credit. Do you have damaged credit as a result of late pays, bankruptcies, collections or judgments; do you just have some minor cuts and bruises from too many inquiries or errors on your report or do you simply have insufficient or no credit at all?Depending on which status you have will determine what type of card and how long it may take to improve your credit. In all honesty, if you have severely damaged credit due to bankruptcy, foreclosure, collections, etc., than you will need to allow a relatively substantial amount of time 1-2 years before your going to see the kind of improvement you may need. With minor blemishes on your credit or not having credit or enough credit you can improve your position much faster. “Many ads promise substantial credit repair overnight or within a month, the truth is you will have to wait until the Credit Bureaus report any changes to your credit and that will take 30-45 days at a minimum.” says Craig Potter of http://unlimitedcreditcards.com. If your looking for cards to help improve credit for Severely Damaged Credit, you should look for cards that have: guaranteed approval (they may or may not have to be secured by a deposit and will probably have a relatively low credit limit to start, which is good, as it keeps payments manageable and your payment history on track) If your looking to improve Minor Credit Blemishes, but you have a pretty good payment history, you may want to apply for a higher credit limit as some of these cards have limits up to $7,500 with no fees and Low APR’s. The same would be true for establishing new credit, although you may not be able to get the highest limit right off the bat, take as high as they will give you and make sure you make your payments on time. One thing most people don’t realize is that your credit worthiness increases as you maintain a certain balance on your cards. Yes you heard me right, almost all credit card companies want to see a balance on your card. It makes sense, they don’t make money unless they can collect finance charges and you have to have a balance to do that. The trick and slippery slope to this is that you should never exceed 10-30% of your cards limit. As soon as you get over that plateau, your credit worthiness starts to decline and you are then offered less and less credit as your balance increases. Remember, once you establish your credit you can also Transfer Your Balance to a new card with a low or no introductory rate to avoid paying so much in finance charges. Just remember that both of those methods may also become a trap that you can’t escape if you abuse the system and fall behind. So the truth is, yes you can improve your credit by using credit cards, but it must be done with a definite plan as to how and why to use them and don’t fall into the common traps. Click Here for More Information About Credit Cards to Help Rebuild Your CreditIf you need assistance in repairing or improving your credit, click hereCONTACT:Craig Potterhttp://unlimitedcreditcards.com586-255-1870805-243-0462 faxSend an email to Craig Potter
Tower Consulting Company, LLC
Craig Potter
craigp_2000@iwon.com 
Source: EmailWire.com
(EMAILWIRE.COM, December 01, 2006 ) Detroit, MI - There has been a lot of noise lately about being able to repair your credit using credit cards; hopefully this release may clear up and validate some of what is being claimed there. First, you have to define the status of your credit. Do you have damaged credit as a result of late pays, bankruptcies, collections or judgments; do you just have some minor cuts and bruises from too many inquiries or errors on your report or do you simply have insufficient or no credit at all?Depending on which status you have will determine what type of card and how long it may take to improve your credit. In all honesty, if you have severely damaged credit due to bankruptcy, foreclosure, collections, etc., than you will need to allow a relatively substantial amount of time 1-2 years before your going to see the kind of improvement you may need. With minor blemishes on your credit or not having credit or enough credit you can improve your position much faster. “Many ads promise substantial credit repair overnight or within a month, the truth is you will have to wait until the Credit Bureaus report any changes to your credit and that will take 30-45 days at a minimum.” says Craig Potter of http://unlimitedcreditcards.com. If your looking for cards to help improve credit for Severely Damaged Credit, you should look for cards that have: guaranteed approval (they may or may not have to be secured by a deposit and will probably have a relatively low credit limit to start, which is good, as it keeps payments manageable and your payment history on track) If your looking to improve Minor Credit Blemishes, but you have a pretty good payment history, you may want to apply for a higher credit limit as some of these cards have limits up to $7,500 with no fees and Low APR’s. The same would be true for establishing new credit, although you may not be able to get the highest limit right off the bat, take as high as they will give you and make sure you make your payments on time. One thing most people don’t realize is that your credit worthiness increases as you maintain a certain balance on your cards. Yes you heard me right, almost all credit card companies want to see a balance on your card. It makes sense, they don’t make money unless they can collect finance charges and you have to have a balance to do that. The trick and slippery slope to this is that you should never exceed 10-30% of your cards limit. As soon as you get over that plateau, your credit worthiness starts to decline and you are then offered less and less credit as your balance increases. Remember, once you establish your credit you can also Transfer Your Balance to a new card with a low or no introductory rate to avoid paying so much in finance charges. Just remember that both of those methods may also become a trap that you can’t escape if you abuse the system and fall behind. So the truth is, yes you can improve your credit by using credit cards, but it must be done with a definite plan as to how and why to use them and don’t fall into the common traps. Click Here for More Information About Credit Cards to Help Rebuild Your CreditIf you need assistance in repairing or improving your credit, click hereCONTACT:Craig Potterhttp://unlimitedcreditcards.com586-255-1870805-243-0462 faxSend an email to Craig Potter
Tower Consulting Company, LLC
Craig Potter
craigp_2000@iwon.com
Source: EmailWire.com
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