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Credit Repair Mistakes to Avoid

Written by:

Susan Barnes

Edited by:

Kristin Marino

Updated on June 15, 2023

If you’re looking to get your finances in order you may have considered repairing your credit. Maybe you’re just looking into the process or are considering working on your credit by yourself.

Repairing your credit can be a lengthy process depending on how good or bad your credit may be. In some cases you may even have good credit but are looking to improve your credit score. No matter your reasoning, credit repair is a big step toward achieving financial security. If you plan on getting started soon, there are some missteps that could cause more harm than good.

Disputing false or incorrect claims on your credit report is a great way to get the credit repair process going, except you cannot dispute everything. You might need to do some research to make sure the claims on your report are indeed incorrect. Just because you “think” you never made a late payment may not mean it never happened, you might have even forgotten to make a payment and never realized it until you see it on your credit report. Challenge claims that are incorrect because if your lender can back up their claims you may not win that battle.

Cutting up your credit cards seems like a good idea if you’re trying to spend less or have a zero balance and want to keep it that way. Having revolving credit on open cards is as important as keeping your cards open. While spending less and paying down your credit cards is important, having credit cards can help you establish good credit giving you more choices when it comes to home loans, business loans, and more.

Credit repair is about figuring out what you can do to fix your credit so be sure to explore your options. Many people feel overwhelmed with their debt and think that bankruptcy might be their only way out. There are many ways to get out of debt and fix your credit including a debt consolidation loan. Be open to suggestions about how to repair your credit.

Another mistake people tend to make is not repairing their credit at all. Some consumers think that over time their credit may fix itself as they continue to make payments, get their balances down, or open new lines of credit. While those steps might help, checking your credit report and fixing your current issues can quickly improve your credit so don’t skip that important step.

The Takeaway

Although you’re setting up to get your credit in order, remember that there are mistakes you can make and how to avoid them. AmONE can get you connected with credit repair services to assist you in the process. Learn about how credit repair works and how you can review your credit report. Contact AmONE to get started on the credit repair process.

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Advertiser Disclosure*. The financial products and services on this site are from advertisers from which AmONE receives compensation. Compensation may be based upon whether you click on certain links on this site or buy products or services from those advertisers. We do not receive compensation from consumers. The placement of advertisements on this site are based in part upon the compensation AmONE has or expects to receive from those advertisers. Placement of advertisements does not reflect our recommendation of any advertisers' products or services. Please consult a financial services professional before making any financial decisions. Our advertisers do not include all the financial products and service providers available in the marketplace.

Loan availability, rates, APRs (Annual Percentage Rate), and other terms vary by advertiser and borrower attributes, including borrower location. Lenders have a range of available APRs; only borrowers with excellent credit will qualify for the lower rates. As of 01/11/2024, our advertisers were offering loans to some consumers for as little as a 6.40% APR on a three-year $100,000 loan.

We do not provide financial products or services. Rather, AmONE provides administrative and marketplace services by attempting to connect consumers with service providers offering products and services such as debt settlement and personal loans. We do not take applications or make credit decisions. We may not be able to match you with any of our advertisers. Credit and other decisions and terms are determined by our advertisers based upon the consumer's submission of an application to the advertiser, which may obtain other information about the consumer from third parties. Approval for financial products and services by an advertiser is not guaranteed.

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