By Michael D. Strauss
 Can a credit card repair damage your credit rating? Yes, a credit card or loan account can help improve your credit score, but you will need to be very diligent in making timely payments for many months. If your credit rating is poor, it generally is because you have made a few mistakes in the past. Perhaps you were late in making payments, or missed a couple, or even have gone through bankruptcy. You still can turn around your credit rating to a positive, and actually it will not take all that long to do so. Use debt consolidation or balance transfers if you must to get better interest rates.
First take a look at your credit record. You can obtain this free once a year from each of the "big three" credit reporting agencies, Equifax, Trans Union, and Experian. You can do this by going online to a website called: www.annualcreditreport.com . There is no charge for this. Some people pull one up every four months, using a different CRA each time, so that over the course of a year, you have |
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