What Is the Difference Between Rebuilding Credit and Credit Repair?
We’ve all heard the saying: “Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.” In other words, it’s far better to teach someone how to do something rather than just doing it for them. This saying can relate to anything, including credit. And it’s the key difference between rebuilding credit and credit repair.
What Is Rebuilding Credit?
It’s best to think of rebuilding credit as a journey. It’s taking a look at what you’re doing wrong and making changes to fix those things. It’s learning how credit agencies work so that you know how to improve your credit score. This could mean changing some of your spending, reducing your monthly debt, setting up a budget, tracking all of your spending, and establishing your credit history through smart purchases with a secured credit card. It takes a little longer than a quick fix as you’re really changing habits and your behavior, but it helps to lay the foundation for a lifetime of good credit.
What Is Credit Repair?
Credit repair is like placing tape over a broken window in your home. It may stop the rain from coming in today, but eventually you’re going to get wet! Credit repair could make for a quick fix that works today, but if you don’t understand or take care of the root problem, you will always be doomed with bad credit. Those in the credit repair industry often promise quick results through fixing errors on a credit report. But many of those fixes are either temporary and don’t provide long-lasting results or are errors you could have fixed yourself. Why pay a credit repair company?
How Do You Rebuild Credit?
We are in the “How to Rebuild Credit” business…and we feel the UNITY Visa Card is a great tool to help you rebuild your credit score. It’s a secured credit card that reports to the 3 major credit bureaus and helps you establish a good credit history. In addition, we have created educational resources to help members learn the basics of credit and how to stay on track. We believe in second chances, and we feel the best way to achieve financial freedom is through rebuilding your credit the old-fashioned way: by taking simple steps, overtime with lots of helpful information.