Credit report errors are responsible for a large number of credit scores being lower than they should. Many consumers are not even aware of their low credit score until they apply for a loan or credit card and get turned down. Even then they are confused as to why their credit rating is low, as they had previously acted responsibly with credit. The fact is, not understanding your credit report, what it contains, and how it affects your credit rating, can cripple you financially.
Of course to examine your credit report, which is basically a summary of your credit history, you need to order a copy. You can do this once a year for free from each of the three major credit reporting agencies, TransUnion, Experian, and Equifax. Once you have a copy of your credit report in front of you, there are three major areas you need to look at to ensure thy contain no errors.
1. Your Personal Data. You might not think it, bit many credit reports contain incorrect data. Check to make sure your information is correct, including your name, social security number, your address, the name of your employer etc. Incorrect personal information leaves you more vulnerable to identity theft, and could also be holding you liable for someone else’s bad credit.
2. Number of Inquiries Made About You. Every time you apply for credit, whether it be a loan, credit card, or charge account, the creditor makes an inquiry about your credit rating. Too many inquiries could indicate that you rely too much on credit, and will negatively affect your credit score. If you see inquiries from companies you have not done business with, you need to have them removed from your report immediately.
3. Accounts Information. This section will list all of the credit accounts you have opened in your name. If you identify accounts that you have not opened, this could indicate that you have been the victim of identity theft. Also, if you see an account listed as open that you have paid off, you need to alert the credit bureau immediately
Now for the easy as 1-2-3 part. Repairing credit report errors has until now been a very complicated and drawn out process. Not so with the new EBook by CreditScoreResource.com, Disputing Errors on Credit Reports. This excellent manual gives clear and simple step-by-step instruction for disputing credit report errors at each of the three major credit reporting agencies, Experian, Equifax, and TransUnion. Don’t be a victim of credit report errors. Get your copy of Disputing Errors on Credit Reports and boost your credit rating today.
You’ve met someone you really like. You start to imagine life with the person long-term. You plan the wedding, the 2.5 kids and even figure the kind of dog – or fish – you will get after you settle down together. How those dreams go will depend a lot on the type of credit rating […]
o matter how much information is available, people still have questions about credit and credit scores. Part of the problem is that some of the information is inaccurate and other times it is just confusing. Here is a look at three of the most common questions asked. 1. Can I Get a Free Copy of […]
nless you are trying to buy a new house or car or get a credit card, you may not think much about your credit. Then, you are focused on trying to make improvement quickly. What you may not realize is that your everyday habits have the biggest impact on your credit score. You can make […]
f you have been turned down for credit or a loan because of a bad credit score, you know how important that number is. What you may not realize is that you don’t have just one credit score. You have dozens of scores, multiple ones from each credit reporting agency. And those numbers are hard […]
You signed up for a credit monitoring site like Credit Karma that gives you a free credit score. You got a credit card with a company that provides a free score every month. A second credit card company gives you yet another credit score. When none of them are the same, it can be confusing. […]
f you have bad credit, you may have been told that the only way to get credit is through a secured card. Have one of those, someone said, and it will help your credit score improve. But is a secured credit card a sure thing for someone with bad credit? What is a Secured Credit […]
ou’ve seen the offers from all of the major retailers. You apply for the in-store credit card and receive a percentage off your purchase. The credit card is only good for use in the store or chain of stores and you receive special offers that other customers don’t get. Sounds like the perfect offer, right? […]