Quizzle.com, the web's only true provider of free credit scores and reports, gives you the inside scoop on how to improve your credit.

1. Quizzle’s Credit Improvement
Basics

2. Quizzle’s Credit Improvement
Guidebook
Table of
Contents...
1. Credit Improvement Tips
2. Credit Cards
3. Debt Management
GET THIS GUIDEBOOK!

3. 1. Credit Improvement Tips

4. 5 Steps to Improve Your Credit
1. Pay all bills on time every month
2. Use a small percentage of your available credit
3. Monitor your credit reports & scores and dispute
inaccuracies
4. Don’t apply for numerous lines of credit in a short
period of time
5. Don’t close credit card accounts you don’t use

5. 7 Credit Improvement Tips
1. Pay Bills on Time!
2. Pay old debts. You may have made a few mistakes, it’s
OK, just pay off and stay current
3. Pay down cards. You often need credit cards to build
credit, pay them down (and off) reliably
4. Spread it out. Spread debt across cards; try to keep
balances capped at 30% of the limit
5. Don’t close old accounts
6. Don’t open new accounts you don’t need
7. Check your credit regularly

6. 6 Good Credit Tactics
1. Restrict your credit card use
2. Get a copy and review your credit report
3. Pay off any delinquent accounts
4. Keep credit card balances low
5. Open new lines of credit sparingly
6. Keep track of bills and pay credit cards off
faster!

7. Denied a Mortgage?
Don’t Despair - Fix It!
First, ask the person handling the application why you were
turned down. You’re entitled to know!
Second, a bad appraisal may be the issue. Banks don’t accept
another, so look for a new lender.
Third, your DTI (debt-to-income) ratio may be high. Community
banks may understand your situation better.
Fourth, it could be your credit—the classic problem. Get free
credit reports & scores with Quizzle so you know what repairs to
make.
Fifth, after you’ve done these things—re-apply!

8. 2. Credit Cards

9. How To Deal with Card Debt
Charge card trouble get you into serious debt?
•It’s OK! It happens. You may have to pay gradually, but
avoid minimum payments. Interest piles up, making
mountains of mole hills. This wrecks credit scores over time.
•Pay cards with the highest utilization (balance compared to
limit. Lower=better!). 50+% hurts credit scores. (Continue
paying other cards if possible.)
•Next, pay high interest cards. Don’t charge more or open
new cards! As always, monitor your credit. Most debts drop
from reports after 7 years.

10. Starting to Rebuild Credit
Suffered through tough times or bankruptcy?
Most negative marks drop off credit reports after 7
years. Bankruptcies can last 10. ‘Devalue’ negative
marks by paying them down and keeping current
with bills, cards, and other debts.
Next, get a secured card with a low fee structure.
The deposit is refundable and doubles as your credit
line. You won’t get in over your head. Make sure the
card you choose reports payments to the 3 credit
bureaus—otherwise it doesn’t help.
Keep new balances below 50% of the credit limit.

11. 5 Reasons Store Credit is a Bad
Idea
Applying for a store credit card to shave some money off a
total? Consider this before you do!
1. Interest is usually sky-high!
2. Too many cards or applications hurt credit
3. Cards can ONLY be used at that store
4. They lack traditional card perks like extended
warranties, rewards, purchase protection, etc.
5. With less time to read fine print standing at the
counter, you don’t know what you’re signing!

12. Does Closing Credit Cards Help Your
Credit?
STOP! DON’T DO IT!
Sure, it seems logical: “I had major credit card debt, but paid it
off. I’ll close my card to never deal with that problem again.”
Except credit doesn’t work that way! If you’ve paid off your
card and want to avoid future issues, stick it in a drawer
and forget about it—but don’t close it!
Your credit scores benefit from open credit lines—just not
big debts owed on them or late payments. Keep the car -
just pay it off and leave it be!

13. 3. Debt Management

14. The ‘Snowball Strategy’: Paying Card Debt
Faster?
Finance expert Dave Ramsey’s personal formula…
Contrary to most get-out-of-debt plans, you pay off the card
with the smallest balance first, (while making minimum
payments on all card debt).
After that first card is paid, you take the amount you were
shelling out on its minimum payment and tack that onto the
second smallest balance you owe.
Each time you pay off a debt in full, the amount you pay
towards your next debt increases, allowing you to clear the
debt faster.

15. Bad Credit? Check Your
Mirrors!
Besides costing you a home loan, bad credit can take a major toll on
insurance rates—of all kinds.
1.Auto, homeowner, and renter insurance all review your
credit score to inform their rates
2.Credit scores below 720 are in the most danger
3.Some surveys show upwards of 80% of credit reports
contain errors
4.26 States have laws protecting consumers from unfair
insurance scoring
5.To avoid getting ‘blindsided’ by auto (or other)
insurance--monitor your credit regularly

16. 4 Tips to Recover from
Bankruptcy
1. Don’t believe those saying they’ll get a bankruptcy
entry removed from your credit reports; Inaccuracies
can be fixed, but only time scrubs bankruptcy from a
credit history
2. Don’t give in to living a “cash only” life; You’ll need
to rebuild your scores—use credit, just use it more
responsibly this time
3. Start writing down what you spend; Build greater
self-control while re-building your credit scores
4. Keep an emergency fund; Set-aside some money for
unforeseen financial shortfalls so you never go back
into bankruptcy!

17. 3 Quick Tips to Rebuild Credit
1. Get a savings-secured loan from local banks
or credit unions. Give, say, $250 to a bank for
a savings account. The bank lends you that
amount, freezing your account as collateral. As
you make payments, that amount is freed in
your account.
2. Open a secured credit card. Your savings
account acts as collateral, but is not “unfrozen”
as you make payments. Keep your balance low.
3. Have someone make you an authorized user
on existing credit lines. If a family member
has existing credit cards with positive payment
histories and low balances, ask them to make
you an authorized user.

18. 5 Facts About Missed Card
Payments
1. Missed a payment? Don’t panic. Unless you’re 30+ days
late, it won’t show up on your credit report.
2. Late payments: First, there’s a fee (usually $15-35). Next, it’s
reported to the credit bureaus--lowering your score. Then,
after 60 days, your interest rate can be raised.
3. The CARD Act of 2009 banned “universal default”, (Card
‘X’ could hike your interest if you were late paying Credit Card
‘Y’).
4. First offense? Ask them to waive your fees. It may or may not
work, but it’s worth a shot.
5. Fix the problem—don’t run from it!