Fix Credit Score Problems and Solutions

Fix Credit Score is the word that keep revolving in your good brain and here is the solutions for 500 credit score issues.You know it sucks.Getting a loan with lower interest rate is a need of the hour for you and when you asked for it by applying,the lender pulled of your credit report and seen your score.There is either no response from them or asking for a higher interest rate. If this is the problem you are at the right place.Here we are going to have a discussion about fixing your credit score and improving your report in simple ways.

Your FICO score is based on the credit report and you shall first check it for accuracy.The errors in the report leads for the reduction of the score and making proper corrections make it better.If you are in the great land USA,you are entitled to get a free copy once in a year from each of the three agencies.You can either call 877-322-822 or order online at www.annualcreditreport.com.

You can get additional report from each of the agency at

1. • Equifax—www.equifax.com, 800-685-1111
2. • Experian—www.experian.com, 888-397-3742
3. • TransUnion—www.transunion.com, 800-888-4213

For Canadians to get the credit reports online:

1. • Equifax Canada—www.equifax.com(click on the “Canada” link)
2. • TransUnion Canada—www.tuc.ca
3. • Northern Credit Bureaus, Inc.—www.creditbureau.ca

Cross Checks to be done to Fix Credit Score :

First of all you can check your identity information like your name,its spelling,social security number and address.Having wrong address may lead to missing of communication and the agencies are not going to be responsible for that.

You shall also check the credit accounts listed and find weather all of them are correctly reported or not.Look for payment history and late payment sections and make sure that the information present is true.You can also look for negative issues that are older than seven years.The only exception is bankruptcy and it stays in your report for a much longer time.All other bad or negative information which is more than seven years old is not supposed to be in the report.

The debits that your life partner got before marriage shall not be in present in your report. If a debit is wiped off in a bankruptcy filing it shall not be reported as debit and cross check that kind of information.If there are many errors and it is about payment history it could be a problem with identity theft and you shall file a complaint against it.The other problem could be messing up of records of some one into your account.It could happen when the names of others is similar to you and this can be resolved by taking to the authorized credit reporting agency people.



(Photo source : http://www.flickr.com/photos/mjcrodez/5040784837/)

Inquires are shown in the report and too many of them may affect you in a negative way.If your report is pulled to offer a approved loan or your own request for the report.This are called soft inquiries and not going to make a negative impact.When you apply for a loan or credit card,the lenders will pull your paper and this kind of one's are called hard inquiries.This will show negative impact on the report.You shall check for this kind of hard one's that are older than two years or the one's that you have not authorized to go through.

In general your fico report comes with a form and it can be used to ask for any corrections that you are looking for.As per the rule what ever the issue you take into the notice of them, they shall investigate and report back to you with in the thirty days period.They ask the creditor about the information and if he fail to give back the proof,the error will be removed from your report.

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Factors that affect FICO Score

This credit score help discussion explains you the positive and negative factors that influence your score .You can get your credit score from different agencies that are there around you.It has different names with a different agency .

1.In Equifax it is named as Equifax Canada Beacon.

2.With Experian it is called as Experian/Fair Isaac Risk Model

3.And with the official name is TransUnion, TransUnion Canada Empirica or FICO Risk Score, Classic

What you will get free from each agency once in a year is the credit report and you are not going to get your FICO score free. You have to pay some thing for this score. One of the prominent web location for your score is MyFICO.com and it is a a joint venture between Fair Isaac and Equifax. You can get give your credit reports and FICO scores from each of the three bureaus for $47.85.

In Canada, you can get your FICO score from Equifax Canada.Having a 770 score will definitely put you ahead of the others and if this score alone is criteria to get a loan, your application will never will be rejected. 

The most important positive factors that influence your report is 

1.Not having late payments.

2.Having a long credit history.

3.The money that you are using is less than half of available credit.

The negative factors that makes a difference to your report are

1.A bankruptcy or collections action or other serious delinquency is most negative factor that influence your report.

2.Seeking for many loans will lead to inquiries about you and it affects your score.

3.Many consumer finance company accounts.

4.Has used lot of credit limit available.

5.Has low credit history and have relatively new to the credits.

Adding the name of your spouse or son/daughter will help them in boosting their credit score. Though they have small history, your long history helps them to make their own better.

As the time passes by the three credit beau roes joined together to create a new credit system called vantage scoring system. The ranges of classical regular score varies form 300 to 850, the new score called vantage one varies from 501 to 990. Still the major system that is followed is the old and good one who ranges from 300 to 850.

If you want your credit score, you can get it separately from the agency. Any way the tested and proved method is regular FICO score system and people are still using it all over the globe and in particularly the USA.

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Credit Score Help what is FICO Three Digit Number Is

The simple three digit number that is the great credit score has all ready became critical to your financial life. The lenders are simple business people who want to make money.They need to give money to some one and at the same time they want their money back with at least minimum interest.

There the chase for people who pay on time comes into action.This chase is based on the credit score of you.If you are habituated to pay all your credit bills on time, you will be having a good credit score.Credit card companies and bankers search for the people like you and send offers like approved loans at reasonably small interest rate.This is the cycle and keep happening around you.

When the world around you is in financial crisis with big bailouts from the federal people,Weather you get a asked and applied loan may depends on many factors.It is sure that one of the decisive factor is going to be your credit score. The basic job of your FICO score is to predict your financial behavior and your commitment to the loans that you have taken. In other words they are checking are you a guy who won't pay the loan and how risky it is to give you the money in the name of a loan.So it is going to effect you financially and even personally and can give you some sleepless nights.

Missing a single payment on time may cost you very dear and take your score a hundred points away.This small error is going to hunt you for a long seven years and you need to take a lot of pain to get back to the normal status. Thus better to be careful and make sure that you are paying the credit bills on time.

In general your report consists of your name,address,social security number and some financial details like your credit accounts,the details of the requests that who asked to check your report and collections and public records like law suites against you and judgments.

The most important factors that influence your credit report are

1.Your payment history and not missing a bill will give you great advantage.
2.How much of available credit that you are using and less you are using better it would be.
3.The age of your credit and older is better.
4.When you have applied for a credit in the recent history also affects your score.
5.The types of credits you are using.

Let us analyze each point in a bit detail.

1.Payment history and Credit Score

1.Your payment history is one of the most important thing in the credit report or the one who makes a big difference to your fico score. In many cases it may effect your report by a big 40 %.The bankers and lenders would like to know how prompt you are in repaying the loans that you have taken.The time you are paying your monthly installment is one of the important criteria to get future loans.They also would like to know how occasionally you are late in paying the bills and by how many days.

As time passes bad effect of your late payment slowly reduces.It is also the fact that if you miss the payment dates more number of times, more the bad effect on credit report.It is obvious that a thirty days delay is better when compared with sixty or one twenty days delay. Missing the payments like collections, tax liens, and bankruptcy are the serious ones who effect your three digit figure seriously.

2.The Credit usage Limit

The magnitude of the amount that you use when compared with available money. It is preferable to use less than thirty percent to have better score.More you use,lenders feel like you are desperate for the money and doubt about repayment ability.The bigger the gap between available value and using value make you better person in terms of money management.It is the view of the people who are lending money and we have no option other than respecting it. Approximately thirty percent of your score depends on this factor.

3.The age of your credit

From how many days you are using the credit and how prompt you are paying them back over the time is going to effect your score by approximately 15%.Longer the history that is positive history better its effect will be.

The age of your oldest account and the average of other accounts will be the deciding factors.

4.When you have applied for a credit recentlyApplying for a new loan or a new credit card in many ways simultaneously is treated negatively by the lenders.This effect will be further bad if you are not having the long credit history.This effects your score by all most ten percent.So be careful about shopping around for money lending and doing it very frequently and in a very small interval affect your future loans.

5. The types of credits that you use

What kind of money loans you take like mortgage,car loan or a personal loan is going to make a difference to your three digit score.Any way applying for different lines just to boost your FICO score may affect in in reverse way and be cautious about it. Standard credit card lending is better when compared with department cards and it is the view of lenders. Installment loans is better as they will create a long financial history and it will be updated once in every month.

You can have a look at the over view of the fico score around you in the country for the reference.



(picture Curtice http://www.flickr.com/photos/bartclaeys/3928496281/)

Getting a credit score help is important and you can learn a lot about its importance and about credit score chart at this blog.I welcome your further comments.

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Credit Score Chart Help in Improving it

Credit score chart helps the Creditors, the people who would like to offer their money in the form of loans and credit cards to the general public.They would like to check weather the person who is looking for a financial loan has enough credit worthiness. This is checked basing on the credit report and it contains lot of data about your bill payments and time of payment like weather you are paying your commitments on time or not.

All the payment details by lenders and bankers are passed to credit reporting agencies and they maintain all the data base about your money behavior.To protect the interests of the consumers we are having a law called Fair Credit Reporting Act (FCRA).

The present post deals with different parts of credit report and what are its details as explained below.

Understand your credit report
Importance of credit report and credit score
What is there in credit report
Contents of credit report and magic three digit score
Impact of marriage and divorce on your personal fico report
How to protect your identity from theft in FICO report
Solve money problems and improve three digit score
Effect of family issues on credit score


(Photo curtsy http://www.flickr.com/photos/vtda/4226036906/)

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How to fix your Credit Score and get it better

Developing a credit report is a long process and even keeping it in good state is a typical process. You need to keep working hard to have a good credit score and report.The first and most important thing to improve your credit score is to increase it is to decrease your credit availability to credit using ratio. Having this ratio at less than 50 % is all right and keeping it at less than 25 % is highly desirable. You shall use the smaller part of available credit to make the report better. The lenders will feel and believe that you are not dam hurry to spend your credit and had good financial management. Paying the existing balances will make the deal better. 

One: Having a secured credit card is a very good way of starting the credit history as the creditor gives guaranty the payments by collecting the same money from you as security deposit. 

So the simple method is 

1. Take a secure credit card by depositing the required cash from a local bank and you will be getting it at free processing fee and annual fee.
2. Use the credit card occasionally at few occasions on each month.
3. Pay the dues on time and you start establishing good history on paper.

You can get other credit cards basing on the first secured card and can establish the fresh line of credit on time. But the risk is if things goes wrong you fail to pay the bills on time, your will be effected seriously.

Two: Getting a personal loan basing on savings account as collateral will help in improving your credit score and report in a wonderful and simple way. This loans is reported as installment loan and paying them on time establish your paper strength. This loans are at low interest loans as there is no risk for the bank to issue the loan.

The combination of secured credit card and personal loan on bank account is a killing combination to start establishing your financial history.

Retail cards are relatively easy to get and will help you in improving your financial report. As they generally have low credit limit they can keep your available credit in good condition to have better effect.You can use this cards and pay the bills on time each month to have better effect. The target here is to establish good credit history and get the better offers form different lenders.To do this successfully make a planned credit.Have money and buy it on credit.Pay the bill on time and your credit score will be improved.

You are not expected to close your old accounts.The agencies are not going to see it in a positive way and reduce your credit score.Be careful about it.

To your credit report you can add 100 word statement as per FCRA.This if used properly can improve your FICO score.If computers are deciding to give a favor of loan or not,this statement may not make any difference in the decision.But if a prospective employer or the owner of a land is looking into your report to give a favor it may help you.We shall use all options available to make the report better.

Explain what went wrong and how your score is effected because of job loss or physical accident.Tell them that you have recover from the problem and you are now in good financial state to pay back all your bills on time.

You shall review and check your report at least once in a year from each credit reporting agency.Make sure that all the information present is correct and no outdated negative information is present in the report.Also check that all the required positive information is there in that papers.You can order one free report once in four months from different agency and hence more frequently cross checking your report.

How to protect your credit report from identity theft:

1.You shall be careful about credit card numbers,bank accounts numbers or any of the sensitive personal financial data.Care about them and keep them in a safe place.You can even shred the unnecessary one's for the sake of protecting them.

2.You shall not give your card numbers and social security number over the phone to some one you do not know.Do this only when you started taking to them and know with whom you are dealing with.

3.Don't have your social security card in your pocket and keep it in a safe place.

4.Check your fico report for identity theft problems at least once in a year.

5.You are not expected to put the bills to be paid in the unlocked public postal boxes.

See this link about Identity theft in detail .The simplest and well disciplined way to maintain good score is to pay all bills on time.Chalk out a plan for that and write all dues to be paid at one place.Go through your check book and balance it to know how much money is there in the account to pay the dues and bills. Give time for the bills cleared and do not wait until the last minute.Pay a week in advance and there is no questions of late reporting then.

If things goes wrong meet a good lawyer or a credit councilor.He may prepare a plan to bay the debits in the best possible way and make it less bad.

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Credit Report Bankruptcy The Last solution

Bankruptcy is a situation where your commitments are too much for you and you can not effort to pay them.The only option that can protect you from jail and mental agony is declaring bankruptcy.You can not take it like a solution for problem unless all other options are dried out.This is going to cost your financial life seriously and stay back on your credit report for at least ten years.The federal law supports it and give a protection.The main intention is to give a chance to challenging people an opportunity to take a step and get credit for new ventures.

The government actually encouraging people to take this daring steps and explore the good options available around you.If things goes seriously wrong,this law protects you from imprisonment.This is going to give a chance to every one to have their life even after failed and in other way give a good chance for improvement of economy of the country.You shall use it only for right reason and other wise it will be hunting you for the life time.Be cautious and careful.This is going to protect you from the hunt of creditors.


To apply for bankruptcy

To get qualified for filing bankruptcy you shall be able to prove that you can not effort to pay even a part of your bills.You shall also get counseling from a qualified non profit counseling agency.

For example you can counseling from

1• National Foundation for Credit Counseling (www.nfcc.org; 800-388-2227)

2• Association of Independent Consumer Credit Counseling Agencies (www.aiccca.org; 800-450-1794)

After applying for courts protection you shall complete a course in financial management before getting the actual approval for it.

You are not expected to spend high amounts before filing the application for a period of 90 days.

To file a second bankruptcy you shall wait for a minimum period of seven years.

How much of home ownership will be yours depends on the state that you are living.If you have bought it with in 40 months before applying for protection the maximum share you can get will be only worth of 1.25K.

All your disposable incomes and assets shall be included in the list to be shared with creditors as their share.


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Credit Score Help and View Credit Report Chart

Credit score is the three digit number which represents your financial commitments to the credits that you have taken from different lenders.When you pay all your bills in due on time you will have a wonderful credit record and very good credit score.This helps in getting better deals on loans at lowest interest rates available in the market.

To grab a long term big mortgage loan or a new housing loan,you shall have good three digit number and that can be obtained only with financial discipline.

This page offers complete information about credit score and credit score help will be provided under the different names of topics as mentioned below.

Get annual credit report absolutely free
My credit check an introduction
600 Credit score and help in improving it
Free credit report bureaus and your rights as a consumer
Credit score help how to improve your three digit number
How to fix credit score errors and improve it
Make your score and credit report better technique
Improve credit score get the help from the information




I welcome your comments and further information that you are looking for.Welcome to this credit score complete blog.

600 Credit Score Help in Improving the magic number

Having a good credit score at your side will help you in getting the best financial deals around and the nice thing is with lowest interest rate.The credit beau roes will chase you via phones and mails with automatic loan approvals.All this cool things will happen until you are well disciplined in paying the bills on time with right commitment.

Once if things goes wrong and you failed to pay a monthly bill on time,that shadow will be keep following you probably for a seven years time and you have to run for the lenders with loan applications.That is the magic power that the credit score has with it and it is vital as it give a clear picture about your financial status and behavior.You can not hide it from the officials who want to know it.

600 credit score is just average or above average in many places and the lenders are very cautions about it.They feel like let us be careful and study a lot further before allowing the approval.We shall try to improve it and there are general measures that we can take to improve it.Some times a simple corrections in the report and removing the non active accounts may improve your number by 50 points and you shall check for it.

If you want jump with joy after knowing the credit offer that you got,the first thing that you shall do is to have a good ground ready for that.One shall be a good score and second point is able to pay back the monthly bills on time after getting the deal.


Let us remember that improving credit score is a step by step process and will take some time to happen.Be patient for this as it is going to give a good mortgage deal at lower interest for a long term and save your valuable money.Take some time and get financially ready to take better loans like having a sound job and stable one.Getting a good deal is one point and keeping it on it also a vital issue.Once you are financially in stable state you can take some further steps to sustain and get good credit score.The high priority debits like car loan,rent,mortgage loan,car monthly payments shall be under good control to try new ones with good credit history.

(Photo curtsy "D Sharon Pruitt" at flicker)


We can not think of not bothering about all this fuss about credit report.You can say that i will buy all my daily needs with the current money that you have.But for buying big things like a sweet home first time or a dream car, getting credit may be a good idea. That is big money and paying it once is practically difficult.Even if you have that much money to spare paying that lum sum is not a great idea.You can invest that money in some other ways like real estate or shares and get good returns over long term.

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How to Improve your Credit Score easily

Having a good credit score chart is important for every one to get the financial benefits for the entire life like a housing loan or mortgage at lower interest rates.This saves lot of hard earned money for the entire life.

To get this offer you shall take some precautions and measures like opening different credit channels and this shall not be more than three initially. Keeping them under good condition and paying that small bills will help you in achieving your goal.Let them small ones like a gas card or vehicle loan and keep paying all that small bills on time.This establishes a good credit history over the time and hence improve your three digit number.

Having a co-signer with good score is also going to help you to get a better deal as the lender look at his/her account also when taking a decision.

Correcting the errors in the report about your late payments that are not actually late etc. will definitely help you to improve and fix the score.Any way if the negative information in the report is true you shall wait for time like seven years for late payments or ten years for bankruptcy data removal from your report.


If you are denied a deal just because of insufficient credit history you can try adding the additional information about the files that you have actually but not reported on the file.Some small businesses like travel companies may not report their data to the agency and you can ask for that inclusion in the report.Any way this data will not be updated in your report until this people report to the agency officially.

If you believe that any of your accounts are subjected to fraud or misuse just complaint about it and if possible remove and close that accounts.Having a correct address to be delivered is important and you shall cross check for that.It is your responsibility to have correct address and you shall inform any changes in it to the agency.



To pay the bills on time you shall prepare a list of commitments you are having and their payment date.Checking them on the paper will give the advantage that you are not going to miss the data and your magic number will not be effected.Even you can have a electronic alert in your mobile or online calender daily to remember the dates of payments.Spare your time for paying them on time and it will help you a lot in making the difference to fix your credit report.

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Examining your credit report for problems:

After the credit report from the respective agencies you can check for errors and remove outdated and inaccurate information.You can add fresh and present information which may give you better credit score.It carries the negative information about your financial behavior for seven years and correct information about you from many years.You will be able to see all the existing accounts on your name and you can identify the large number that are not used from long time.Creditors will not close the accounts even if you are not using them and you shall ask for it for the closing.

You shall check that

1.Your name is spelled correctly in the report.
2.Your social security number is correct.
3.Check for all the important accounts that you use are in the report or not.
4.See that the activity of the accounts like correct information about your credit payments.
5.See any accounts are in your paper which are not of yours actually.
6.Identify which accounts are showing negative information like late or no payments.
7.Check the accounts moved from one source to other or mentioned only once in the report.
8.Look for the correct address of you in the report.





Look for the accounts that are having a positive impact on three digit score but not mentioned in the report.You can ask for that addition. You can also ask for elimination of inaccurate data from your report and the credit agency shall shall follow the rules on that according to FACT Act.

Fixing and correcting errors in credit report can help you to improve your credit score and get happy offers at lower interest rates which in turn save your valuable money.

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Credit Score Help Improve your three digit number

Credit score is a important three digit number for every individual and he shall take care about it to get better financial assistance in the foam of loans and deeds with lower interest rate. You shall be aware of the facts regarding this and use it wisely to improve your loving number.

You like privacy and do not wish to reveal your financial data to the public.But with the present day system your credit history is no more that much private.Many people like lenders,bankers,business people,the person who would like to give you a job can access your track record officially and take decisions according to it.As you can not stop it,you shall make it at least correct and up to the truth.You can demand your own report for free for reference purpose and ask for the corrections if there are any errors.All this information is avialble with credit reporting data bases and they are run by independent organizations and financed by bankers and lenders.

The three digit number is going to be very important and key in deciding so many things about your life from the external world like

1.To approve the asked loan or not
2.To hire for the job applied for or not
3.To give the promotion or not
4.To give the insurance policy or not
5.To give a professional license to your work

So to have a happy life we shall take care of our financial behavior and it will be reflected in the official report too.


So keeping this number good is very important in life weather you like it or not.Federal government has given you some rights to protect you against the errors with the law called FACT act.According to this act

1.You can get a free report once in a year.
2.You can get additional report once you believe that your identity is stolen and you can initiate a fraud alert.
3.Creditors shall give you a notice before they put the negative information on your report.
4.Credit and debit receipts shall give you information only about last five digits of your bank account number but not the complete number.



For further details about your rights you can visit web site at www.ftc.gov

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