Sometimes our clients ask me what is the best way to build credit quickly? If there are a lot of derogatory entries on your report such as; charge-offs, judgments, collection notices, the process will rarely be a fast one.

Time is needed to initiate correspondence with bureaus, creditors and collectors.  More time is needed to allow for their response.  Once the dialogue is open, many different processes go into motion, all of which take time.  Here’s what should be done first:

Usually, when consumers have a lot of bad credit entries, they typically have very little good credit.  Good credit lines are items listed on your report that show a regular payment history.  These are called trade lines and you need three of them at least.

They could be a car payment, credit card payment or perhaps a department store credit.  Taking care to establish this first, before any credit repair takes place, is paramount.  The reason for this is; if say, a year goes by and all the derogatory items have been removed but there are still no trade lines, your score will remain inadequate.

So establishing these credit lines should be begun on the outset because it will take at least 6 months for the new trade lines to have a positive impact on your score.  Once the lines are put in place, only then would you begin removing the bad items.