With this downward economy, it is no surprise that millions have poor credit scores. The following tips are presented to help you improve your credit score and help you be more disciplined with your money.

The first step to repairing your ailing credit is to create a manageable, feasible financial plan. You can’t just make up a plan and not change how you spend your money. Stick to the essentials, and avoid frivolous purchases at all costs. If you are buying something because you want it, and don’t need it, put it back on the shelf.

You may be able to get a secured credit card even if your poor credit has prevented you from getting other credit cards. These are extremely easy to qualify for. A secured credit card looks just like a regular card, and works like a regular card, but you have to have the necessary money in an account to guarantee payment. If you show a good history of payments with this card, it will help improve your credit standing.

Credit Report

Do not fall for the false claims many have about their ability to fix your credit. The claim that they can remove accurate debts from your credit report is false. All information remains on your credit report for a period of seven years or more. It is possible, however, to remove errant information.

Be very wary of programs that do not sound legal; chances are they aren’t. Don’t buy into scams that suggest you create new credit files. These scams are not legal and there will be repercussions. You could end up owing a great deal of money or even facing jail time.

If you see any erroneous information on your credit report, file a dispute so you can have the information removed. A dispute letter should be sent to any of the agencies that are reporting the error. Be sure to include supporting documents. Mail your dispute packet with receipt confirmation so you will have proof the agency has received it.

Any time you establish any payment plan with any creditor, make sure you get it in writing. This will protect you should the company change its policies. When you pay it off, send a written copy of proof of payment to all three credit reporting agencies.

Now that you have a good idea about various methods and techniques for repairing your credit, why wait until later to put your plan into action? Don’t let your credit score ruin your life; instead use this information to begin repairing the damage.