Even though the method that each credit reporting agency uses to calculate your credit score is different, the way you approach improving your report will be somewhat the same. It's the urgency in which you do this that will determine how fast you can raise your credit score.
Once you receive your credit report and know the areas that are affecting your credit score the most you can create a plan of attack to clean these areas up and get the best results possible in the least amount of time.
Using this method to repair your credit report and improve your credit score will make each resulting step easier to accomplish.
Once you have cleaned up your report and scores to the point that you are able to secure a small loan with a local bank and then making the payments on that loan, on time, you are creating positive history. It is that history that will give future lenders the confidence to trust you as a safe client.
This will allow you to get better interest rates. The lower rates result in lower payments which in turn ensures you can manage them and not miss any payments, thereby improving your credit score even more.
While you should start your credit rebuilding plan with this method, the momentum created with it is going to improve your score quickly. You also need to remember that there are several other areas on your credit reports that will affect your score and they all need to be addressed at some stage if you are to achieve the highest score possible.
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