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The best way to rebuild ones credit is to begin paying off old debts that are effecting ones credit score. Paying bills on time is also another way to build credit.
There are no quick fixes to improving bad credit reports. The best thing is to slowly rebuild credit by paying bills on time, paying more than the minimum on credit cards, and avoiding common credit traps.
The best way for people with bad credit to get credit is to rebuild their credit score, this can be done by clearing off past due bills and bad debts, how ever responsible users can avail of department store credit cards or some credit card companies will offer people with bad credit score history a special credit card.
When trying to rebuild credit, one may want to consider a 'secured' credit card. They may come with an annual fee but they are a safe choice for bad credit. There are also Mastercards, such as the Mango, that are pre-paid and can help control spending. Finally, a credit card that offers rewards can be a way to rebuild credit by using the card more often and getting rewarded for it as an incentive.
If you need to rebuild your credit then there must have been some form of negative feebback. You cannot get unlimited credit with a prepaid Mastercard. Prepaid Mastercards are debit cards that function like credit cards. You pay with cash and then use the card. It is not a good way to rebuild your credit.
Paying off what still owed on the loan is a GREAT start.