<br/>You need to know what you owe and the companies to which you owe money before it is too late and still more debt is created. But now it is time to go into damage control mode and repair your credit. The following article provides you with some simple and effective hints and tips to help you improve your credit rating. <br/> <br/>Pay down the balance on any credit card that is 50% or more of the credit limit. When your debt is over 50%, credit ratings usually go down. With that said, try to spread out the debt that you have or try paying it off. <br/> <br/>Having a lower credit score can lower your interest rate. Lower interest rates mean lower payments, which allows you to pay off debt faster. Make sure to use a company that gives you the best rates so your bill isn't being built up by money you haven't even spent. <br/> <br/>Paying your bills is a straightforward, but truly vital prerequisite for credit repair. You must pay them on time and in full. Your credit score starts to improve immediately upon paying off some of your past due bills. <br/> <br/>Working closely with the credit card companies can ensure proper credit restoration. When you work with company you are not working against anyone, including yourself. This will help prevent furthering yourself into debt. Politely ask if it is possible to have your minimum monthly payment adjusted or due date changed. <br/> <br/>Do not get mixed up in things that may lead you to imprisonment. Scams abound on the internet that show you how to change your credit file. That is illegal and you are going to be caught. You could go to jail if you have a lot of legal issues. <br/> <br/>Call and request lower limits on your cards from the credit card companies. This will keep you living within your budget, and will show the credit companies that you repay debts. This will allow you to get credit easier in the future. <br/> <br/>When attempting to improve your credit, you should go over any negative marks with a fine tooth comb. If you notice a mistake on your report, you could get some items crossed off. Even if the item itself is right, an error in the date or amount gives you the right to contest it. <br/> <br/>The first step in credit restoration is to close all but one of your credit accounts as soon as possible. You should arrange to make payments or make a balance transfer to your open account. Doing this will allow you to focus on paying off one large credit card bill, instead of several smaller ones. <br/> <br/>To even begin improving your credit you will need to lower the balance owed on them as soon as possible. You should first work on paying down the credit cards with the highest balance or interest rates. This can prove to creditors that you are serious about paying down your debt. <br/> <br/>As you can plainly see here in this article, getting out of debt and repairing your credit score is more about common sense than you may have realized. If you follow some sound advice and use common sense, you can be on your way back to good credit.