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Tips To Improve Your Credit Score

Jun 13, 2008
Your credit score and credit history plays a major role on your finances. Having low credit scores will pose as a problem when you are trying to work towards getting any type of credit. If you do have a low credit score it is important to go about taking the right steps to improve your credit score.

One reason behind the low credit score could be your failure to pay your bills on time, failure to pay, bankruptcy, taking on more credit at once than you can handle etc The list is large and vast for the reasons behind a low credit score. Having a low credit score may prevent you from receiving a loan or credit but may also stop you fro purchasing or renting a home or apartment or getting that job you wanted.

The first step to improve your credit score would be to go and get copies of your credit reports from at least three major credit reporting agencies then review and go over them thoroughly. According to the federal law you are able to receive a free copy of your credit report one time each year, so it is very important to take advantage of this. Even though a lot of the information on your report will be correct, there is a possibility that there may be an error or two. You are the only person that can fix the errors so they will never be changed if you don't take that step to do so.

The reasons why there may be errors on your credit report could be one of many such as: human errors, clerical errors, mistyping, and having errors on your credit report will show the first signs if you are a victim of identify theft. Having these errors on your credit report may be causing your credit score to be extremely lower than what it actually is. To fix the errors you have to go about the process the right way and follow the instructions.

The process to fix these errors is time consuming and tedious, however if followed properly you will be able to fix and improve your credit score. The process isn't necessarily difficult and once you notice errors you are the only person who can change and fix them so taking action right away is crucial if you want to improve your credit score.

After the errors are found make it a point to contact the ORIGINAL creditor so that they can provide you with proof you will need when you present your case to get the errors fixed. If by chance your credit report says that you haven't paid off an account and you know you have you will have the proof provided by the original creditor to agree and back you up.

Make sure that you send out letters to all of the credit bureaus to explain in detail the errors on your report and they should be corrected appropriately. Make sure you keep these letters for reference that you sent out to all of the bureaus. The credit bureaus have about 30 days to investigate properly your situation and let you know what they discovered. Also, if you want to speed the process up a bit provide proof of your claim to the bureaus as well.

Essentially, taking the appropriate steps to improve your credit score you will find things to be better and easier. If there is an instance that comes up where you want to receive a loan, get a credit card, or another type of credit you now will be able to do so without any issues or problems. Also, by having an improved credit score will lower your interest rates and buying or renting a home is easier as well. The benefits pay off in the end even though it may be time consuming it'll pay off to fix your credit score.
About the Author
For more information and additional insights about how to Improve Your Credit Score as well as getting FREE copies of your credit reports to help you get the process started, please visit our web site at http://www.credit-help-center.com
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