Is your credit score so low it is hindering your life? Our helpful tips will lead you in the right direction for credit restoration and help you to have a credit report that you can be proud of.

If you have credit cards with a balance that exceeds 50% of your credit limit, you must continue to pay on them until the balance is lower than 50% of the credit limit. If your credit card balances exceed 50% of their limits, it will lower your credit score, so spread your debt over multiple cards, or better, pay down the balances.

Your interest rate will be lower if you have a good credit score. This will make your payments easier and it will enable you to repay your debt a lot quicker. Getting a good offer and competitive credit rates is the key to credit that can easily be paid off and give you a good credit score.

Opening an installment account is one way to improve your credit score. Choose an installment account you can afford, since you will have to leave a certain amount of money on it at all times. If you use these accounts, your score will go up rapidly.

Call your credit card companies and request that they lower your limit on your cards. It will help to keep spending under control, and also sends a positive message to potential lenders. This means you might have a better opportunity of obtaining necessary loans in the future.

Improve your credit score, as well as make some profit, through an installment account. Make sure that you are able to afford the payments on any installment accounts that you open. If you are able to keep up with one of the accounts, you should see your credit score improving quickly.

When you want to rebuild your credit, take a close look at any negative reports that are harming your credit. Errors are not infrequent in credit reports. If you can prove the credit bureau is in the wrong, they should correct the reported error or remove it entirely.

Bankruptcy should be a last resort. The record of the bankruptcy appears on your report and affects your credit rating for up to 10 years. Though it may seem necessary at the time, you should weigh the costs over the next ten years before you decide to go through with the filing. Though it may provide some immediate relief, be aware of how it will impact your access to credit in future years.

It will be easier to increase your credit rating if you only have one open credit card account. Try to make a payment or transfer your balance to your open credit account. This can help you avoid paying down smaller balances and focus on paying one card off.

Always get a plan in writing if you are going to do a payment plan that deals with creditors. You need to have a contract in writing so if the creditor goes belly up or they change your terms, you can catch them on it. After you have paid your debt, request appropriate documentation that confirms your zero balance.

Take the time to carefully go over your monthly credit card statement. You will need to read over every charge on your account to check that it is accurate. You must be accountable for each item on your statement.

Avoid bankruptcy at all costs. This will show up on your credit for around 10 years. It can be tempting to just go ahead and file bankruptcy to get out from under the debt, but the detrimental effects can be long lasting. If you choose to file bankruptcy, you’ll be unable to get a credit card or loan in the future.

Make sure that you always read your credit card statement entirely. Make sure the charges on your credit cards are accurate. You are responsible for the accuracy of information on your credit card statements.

Don’t fall prey to law offices that promise you instant credit fixes. Because of the surge of credit issues out there, a lot of unscrupulous lawyers advertise that they can repair your credit for large fees. Do the research on your lawyer before you call them.

With the application of this advice, you do not have to be haunted by your poor credit report. You do have the ability to fix your credit. These tips can help you achieve a credit score you can be proud of.

While few have achieved a max credit score, many have improved their credit score. To learn how, visit http://maxcreditscore.org.