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Accelerating Credit Repair

Not sure if this question has already been asked but I would like to know how to accelerate my credit repair. I was discharged from bankruptcy in early `08 and soon after applied for a secured credit card which I got. I have been using it since and paying it back every month. It`s been close to a year since I had the card. So recently I decided to apply for a regular unsecured credit card. I was declined (of course) saying I had declared bankruptcy etc…I was just testing the waters…You see, I would like to buy a house next year and need my credit score to be as high as possible when I apply for a mortgage. I have been on your credit repair link and done everything on it – from saving a bit of money to applying for an RRSP etc…Is there anything else I can or should be doing? My credit limit on my secured card is not very high so not sure if this is why my credit score isn`t improving rapidly? Credit limit is too low?
Any advice on this would help…Or should I just wait and sit tight…Maybe it`s just a question of time then?
thank you

Posted from: Ontario

One Response to “Accelerating Credit Repair”

A licensed trustee said...

You are doing the right thigns – it simply takes time…

A word of caution to everyone: every time you apply for credit it is listed on your credit report. If you apply for more than 2 items in a short period of time (say 6 months) and are rejected it is unlikely anyone will want to grant you credit for at least a year… To the credit system it looks like you are a risky customer.

After you’ve been discharged, particularly if you want to buy a hosue in a couple fo years, yuo should go and meet with a loans officer at a bank. Ask them to tell you what they would like to see in order to approve you for a mortgage in a couple of years…