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Why Establishing New Credit is So Important
Published in Credit Counseling on Sep 15, 2011
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We all fall off the horse once in a while.  At some point in time, whether we’re equipped to handle it or not, the ride can get to be a little too much for us to handle, and down into the mud we go.

For some of us, getting back up on that horse can be harder than it was the first time around.  At times like that, a helping hand is pretty much the most appreciated thing in the world.

We understand that – when it comes to the business of credit repair, it’s one thing to have someone there to help dust you off when you fall down, but helping you get right back to where you were is even more important.  That’s why we established a program to help you not only repair your credit and settle any outstanding debts, but establish new lines of credit as well.

Why is this important?

Most people seeking help from credit repair services are really only interested in the bottom line, which for most of them, is raising their credit score.  So they seek out any company that promises to help them do just that – fix their bad credit so their score will increase.  Problem is, it doesn’t really work like that.

Think of your credit score like a report card.  You start the semester with an A.  As the months go by maybe, for whatever reason, you miss a few assignments here and there and suddenly you’re looking at a C for the semester.  The only way to make up the grade is to bust your ass doing all kinds of annoying extra credit assignments that, in the end, may bump you back up to a B.  It’s so easy to fall off, and such a pain to get back up.

Your credit history is pretty much exactly the same, with one important difference: nobody starts with an A grade.  Think how much harder it is to climb back up when you’ve never even SEEN the top, and you’ll see settling just for credit repair is like taking a C for the semester.

How can this help you?

The most immediate help new credit can provide is to offset any negative accounts on your report.  If you’ve been coasting on your credit all this time and find a lot of your accounts are now reflecting that you haven’t made the grade, so to speak, new credit accounts can help rebuild your profile. Kinda like extra credit.

Having new credit goes a long way towards optimizing your credit profile as well.  Having open lines of revolving credit (credit card bills, car payments and the like) looks good on your report.  Having up to 3 or more revolving accounts is how you get your report to shine.

Finally, establishing new, positive lines of credit helps you look like a responsible adult.  You may have successfully taken care of your negative accounts and old debts, but what happens if that’s all that you had on your report?  Without any new, positive credit, you’ll still have a hard time being approved for any loans or further lines of credit.  Without new lines of credit, you will have essentially repaired your credit for nothing.

John LeBlanc - About the Author:

John LeBlanc has written more articles on credit repair than he'd care to count.
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