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
- • Equifax—www.equifax.com, 800-685-1111
- • Experian—www.experian.com, 888-397-3742
- • TransUnion—www.transunion.com, 800-888-4213
For Canadians to get the credit reports online:
- • Equifax Canada—www.equifax.com(click on the “Canada” link)
- • TransUnion Canada—www.tuc.ca
- • Northern Credit Bureaus, Inc.—www.creditbureau.ca
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.
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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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