Blemishes on your credit report and a poor credit rating are costly. They prevent you from being approved for loans, mortgages, bank-issued debit cards, and even cell phone accounts. However, if you have poor credit, you aren’t doomed to being eternally shunned by creditors. Improving your credit isn’t impossible, but it does take a lot of time and motivation.

The first step towards improving your credit is to actually get a sense of what your credit rating is. Order your credit reports from the top three credit bureaus, Equifax, Trans Union, and Experion. Make sure to get one from all three because they all may be slightly different thanks to varying criteria for credit scoring. A new federal law now entitles U.S. citizens to one free credit report from each of these bureaus once a year, but you have to take the initiative and ask for it.

Examine your credit reports carefully for any errors, because even the smallest misprint can cost you. Statistically, nearly every consumer has an error on at least one credit bureau report because bureaus don’t make the extra effort to verify information from creditors. This is up to you to fix.

Unfortunately, any negative information that is true will take time to disappear. Late payments will stay on your report for seven years and bankruptcies for ten. The good news is that creditors look for a general history of good credit behavior, so consistently paying your bills on time will help to overlook your blemishes.

If you find yourself unable to make your payments, be proactive and contact your lending company to reconfigure your payment. You may be able to lower your monthly payments at the cost of a longer repayment schedule and more interest, but the important thing is that you are paying your bills on time and in full and saving your credit rating.

Of course, once all of these things have been accomplished, it’s time to work on adding some stability to your credit report. The best way to counter bad credit is to start re-establishing good credit by paying on time, every time. A secured credit card is a great way to repair bad credit because the money you are drawing from has already been pre-established in a set-up savings account.

However, don’t go overboard with your credit applications. Too many inquiries will reflect poorly on your credit report – they’re all recorded – and will lower your score. Make sure to thoroughly research potential secured credit cards before you apply.