Did you know that you can take a few simple steps to improve your credit rating? It’s true. Once you get yourself a free online credit report, you can use it to easily improve your credit score.
Using a Free Online Credit Report to Improve Your Credit Rating
1) Review Your Report for Mistakes: If you’re like most people, you think that these reports are very accurate documents. Well nothing could be further from the truth. They are notorious for having loads of errors. One error on your report can make the difference with getting an approval for a mortgage, loan, or credit card.
If you have never seen your credit report or it has been a few months or years, you need to review it before you apply to borrow money. It’s estimated that as high as 9 out of 10 credit reports have mistakes so it’s best to take a few minutes and review it.
2) Removing Information: This idea is using the law to your advantage. If you contact a credit bureau agency and dispute anything on your report, they have a month to respond. If they don’t, you are within your rights to have the information that was disputed removed.
3) Cancelling Old Credit Cards: If you’re like most people, you’ve had all sort of credit cards over the years. It’s very common for people to have old ones on their credit reports that are not being used. You need to call these credit card companies and cancel the card. Also request that they contact the credit bureau agencies to show the card was cancelled.
Having too many credit cards on your report lowers your score. So, if you can consolidate as many of your cards as possible, it will improve your credit score. Be sure you get a free online credit report so you don’t miss any cards.
4) Cancelling High Interest Rate Cards: Most people don’t realize this but high interest rate credit cards from department stores are very bad for your credit rating. They tell lenders that you may have had a difficult time getting credit so you opted for a high interest credit card. Do your best to pay these off and cancel them.
5) Writing Notes in Your Report: If you have a foreclosure or collection agency note on your credit report, you need to add notes. It’s possible to have the credit bureau add notes explaining in detail what happened. Maybe you were part of a mass layoff in a town or city that has high unemployment. If so, get it written on your report.
Now get out there and start repairing your credit by getting a free online credit report. What’s stopping you from taking action to improve your credit right now?