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Tips to Repair Your Credit Score

Mar 24, 2008
Thank goodness for the law! The laws in the United States - and in many countries - give individuals the right to contest their credit reports if they can prove that there are inacurracies. One's credit score is influenced by one's credit report. If you have sufficient proof, then repairing your credit score is as easy as 1-2-3.

Given the importance of good credit, diligence dictates that you follow a methodical way of reporting the inaccuracy and providing supporting documentation so that the repair process goes quickly and efficiently. You just can't call the credit bureau in disgust and start hollering at the clerk about the mistake. While a wrong credit report does make one angry and frustrated, that's no reason to let off steam. Follow the steps below and adhere to the rules.

First of all, stop applying for credit cards and don't attempt to open any additional lines of credit. This will only hurt your credit score, exactly what you don't need if your score is somewhat shaky.

Pay all your bills on time - it's very tempting to skip payments because people know they won't get thrown into jail for one or two skipped payments. But think of it this way: a skipped payment will lead you into a situation where you'll feel trapped and be cash-strapped. That's almost the equivalent of remaining in a locked cell.

Keep your credit card payments at a level higher than the minimum payment. Don't overextend your credit limits, your score will thank you later.

Debt consolidation may be something which can help you. Inquire about this, it may save you some money due to varying interest rates if you have many outstanding debts, and it is certainly more convenient to make payments to just one place.

Pay with cash, if possible - lots of people walk around with heavy-duty plastic in their wallets. Dare to be different. Take the cash out and pay for your merchandise and services with it.

Try to build a relationship with your bank and other financial people involved. With a bond of understanding and trust built, your financial service providers may be more willing to give you a break on minor credit issues.

Credit is very important, but also can be ruined before you even see it coming. If your credit is in need of repair, you need to get to work doing so immediately. Make all of your payments on time and save proof of this. You can send this documentation to credit bureaus when needed.

Keep this in mind - if you find a problem on your credit report, make sure it gets fixed!
About the Author
Steven J. Talrechi has been studying credit reports and credit reporting agencies for the last ten years. He is an expert in second chance banking and helping people get a new bank account when traditional banks turn them down.
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