Your credit score is the single most important factor that decides your financial success. The process of re-establishing your credit rating after having suffered a job loss or some sort of family emergency may seem impossible, but the truth is starting from scratch is more simpler that you think. The hard part when it comes to starting over and raising your credit score is maintaining a consistent payment regimen with the credit bureaus.

Before you can start fixing your credit score, the first step is to get a copy of your credit report. Once you receive your report, make sure that you examine it from top to bottom for possible errors. Checking your report may reveal some accounts that have been paid off already, identity fraud, or even double listing of the same accounts. When dealing with erroneous charges on you report, it is more effective if you seek the advice of a credit attorney.

The second step to raising your credit score is adding some positive accounts to your report. Even if all your negative items are removed or expire from your credit report, you still need to have some positive accounts to produce a rating.

A secured mastercard or visa is one way to add a positive item on your credit report. A secured credit card works the same way as any other credit card except for the fact that your limit will equal the amount of a security deposit. In many instances some banks offer a 25% or $100 increase on top of your initial credit card limit. Secure credit cards also report to all three credit agencies without disclosing the fact that your card is secured.

The third step is a little trick which is only possible if you know someone close to you who is willing to add you on as a co-borrower. The issues with using this trick is that you must make sure that the person you ask is reliable. If your sponsor misses a payment or stops paying, your credit will also be affected.

The last step is discipline. Making timely payments consistently is very important to improving your score with the bureaus. The most important thing that creditors look at when considering credit is your current payment history. The current status of your payments reflects huge in the eyes of creditors.

The magic number for a complete redemption of a bad credit history is 2 years. Two years represents great discipline and a restored financial standing. If you continuously make on time payments for 24 months, the credit report agencies will reward you with an increase in points for every month of good payments.

In summary, to take control of your financial future, you must first take baby steps. These steps include getting a copy of your report, removing bad accounts, adding good credit history and paying your bills in a timely manner. You may also want to consider step #5; getting identity protection to protect your good credit score.

For additional information on how to order free credit report you can visit how to improve your credit score.