It’s no surprise that there are so many people facing the hardships of bad credit today given the current state of the economy, yet don’t become discouraged because of this. Fortunately, these tips will help you build your credit score.

For those with imperfect credit, it can be hard to secure financing for a home. If this is the case, try to get an FHA loan, which are loans backed by federal government. FHA loans are also great when a borrower doesn’t have the money to make a down payment or pay closing costs.

If you want to fix your credit, you must first conjure a workable plan that you can stick to. If you want to change then you have to work hard and stick with it. Only buy the things that are absolutely necessary. Before you open your wallet ask the questions “do I need this?” and “can I afford this?” If the answer is no to either, put it back on the shelf.

Secured Credit Card

If your credit history has put you in the position where you are not able to obtain a regular credit card, you should try to get a secured credit card to begin rebuilding your credit. Secured credit card applications have a high rate of approval because you must fund a security deposit against your credit limit. If you show a good history of payments with this card, it will help improve your credit standing.

If you have a card that carries a balance of over 50% of the limit, you should pay it down to below 50%. When balances are over 50%, your credit rating goes down significantly, so try to either spread out your debt or, ideally, pay off your credit cards.

There is no reason to put off starting to repair your credit now that you’ve learned how to do so. The faster you act, the less likely your lowered credit score will permanently affect your life.