Just What Is Credit Restoration and What Does It Mean For Me

If you're in a situation where you have bad credit or no credit history at all, credit restoration can help you obtain loans and better interest rates, which save you lots of money on the long run.  Tim Dolan with Get Me Credit explains what credit restoration is, and some simple things you can do to help restore credit.

What You’ll Learn

• For a no credit situation the banks and credit unions want to see some sort of payment and credit history
• Getting a secured credit card from your bank or credit union can be a great way to build up your credit
• There is a credit score that is put out by the three main credit reporting agencies
• Your credit score can range from 300 on the low end to 850 on the high end
• If your credit score is lower than 700 then you are not getting the best interest rates when you obtain a loan
• You should look at your credit history report at least once each year
• Credit restoration will help you find things that are derogatory on your credit history so you can remove them
• You may be paying 20%, 30%, or more on a car loan if you have a low credit score
• If you have a good credit score, you can obtain low interest or even no interest car loans

View the show notes, resource links, episode transcript, and watch the video version at https://www.getmecredit.org/episode1