credit report - How's Your Credit Report Looking?

Have you received your free annual credit report? If not, the first thing you want to do is get a copy of your credit report from each of the three major reporting agencies. If your address and information can be verified against the report, you can do this on one site at AnnualCreditReport. If not, you may need to contact each agency. Go to Equifax, Experian.com, and www.transunion.com to find out how to order your free annual credit report. Once you receive your reports, go over every item. Make notes about anything inaccurate or out of date. If there are addresses or information that does not belong to you, you must write to the reporting agency to have these removed from your records. Perhaps there is no record of a loan you paid off. You must inform the reporting agency of this information. They will verify it and add the paid loan to your report. These are important in obtaining future credit. If negative information is accurate, keep in mind that these entries may be reported for up to 7 years or for 10 years regarding bankruptcies. Maybe there are unfavorable items on your reports that are inaccurate. If so, you must send the correct information and ask to have it corrected. Are there items on your report that were dismissed in bankruptcy or through a settlement? Again, it is your responsibility to be sure your report is correct. You may also help prevent identity theft by being sure that all the records listed are yours. If you do not contact the reporting agency, they are unlikely to notice and correct your records. Your request must be made in writing. They cannot make changes in your credit report over the phone. When requesting corrections, you must provide copies of documents showing the correct information. Send your request with your documentation Certified Mail, Return Receipt Requested. Keep the receipt and wait for the signed card to be returned to you verifying they received your information. Most of the time, they are required to investigate within 30 days. If the investigation results in a change in your report, they will send you a new free report reflecting the changes. Be a responsible consumer. Check your credit report every year to insure accurate records are available when you need them. About this author Jacob Mettarod was laid off from a factory job about 3 years ago. It was then he decided to help others in similar situations with their credit and employment issues. You will find more articles about credit reports at Fixed Credit Report Article Source:http://EzineArticles.com/?expert=Jacob_Mettarod credit report - Tips on Raising Your Credit Score You can save a lot of money by simply raising your credit score. And it isn't that difficult a task. It simply takes time. My husband and I have both raised our scores by over 150 points each in less than two years. Simply through time and some wise decision making. The first step is to check your credit report. You can obtain your credit report for free each year from each of the three credit reporting agencies. We space it out so that we are checking ours every four months or so. This keeps us up to date on what our credit report says. When you get your credit report, you will be offered a credit score for a nominal fee. Go ahead and spend this money for your score. It is a wise investment of your dollars. Keep in mind that each score is calculated differently. They will vary from agency to agency. It may also vary from lender to lender, depending on where they get their scores from. But they will all be in the same ballpark. If you are raising one score, chances are that they are all going up. Review your credit report carefully. Almost 90% of consumers will have false information on their reports at some time. It happens. And it drags down your score. If you see something inaccurate on your report, you need to take steps to correct it immediately. There are several factors that contribute to your credit score. The five major components are: payment history, account balances, age of established credit, recent inquiries and opened accounts and types of credit. It may seem like you should rid yourself of all credit cards due to their "evil." However, this isn't always great for your credit score. When it comes to credit cards, having a few can look good on your report. But you should have little to no balance on these cards. If you have a hard time about using your credit wisely, put the cards in a safe deposit box at the bank. Pay down your balances as quickly as possible. My husbands score is actually held back a little by the fact that he has no credit cards at all. If you have an account with a zero balance, consider keeping it. It can add to your credit history, account balance and payment history. The number one factor to raising your credit score is paying your bills on time, every time. Have them automatically withdrawn from your checking. Make yourself pay them well in advance. Then all it takes is a little time to distance yourself from negative reports on your credit. With time, paid off debts and on-time payments, you are guaranteed to raise your credit score. And you will see savings as a result. You will get better interest rates, more favorable insurance premiums and the satisfaction of knowing that when you need to borrow, you will be able to borrow. A perfect credit score will go a long way for you.