Clean up your credit rating so that you can live the American dream. This will help anyone get back on the right track.
Check your credit report at least once a year.
You can get a copy of your credit report from Equifax or transunion.If you encounter any mistakes,report them immediately following the instructions of the last page of your report.
Put positive credit information in front of the bad.
Prevent any new red marks from showing up on your credit report from now on.Make sure that your not behing on any payments.Get an amercian express card,visa,matercard,or discover card and keep on top of your payments.If you cant get approved for one of these cards,try to get a secured credit card.
Clean up all past credit problems.
Credit companies keep accurate credit information on your credit report for up to seven years.They only report the information that creditors give them.Ask the creditor to please remove the information from your record.
Put a letter of explanation in your credit file.
If you think information on your credit report is false and you try to get it corrected but,are still having problems put a letter of explanation in your credit file.The letter must be given to anyone who looks at your credit report.Make sure that your letter is short,unaggressive,and is based on facts.Credit companies must comply to have the word “disputed” listed next to any item that you disagree upon.
Another great article and this will help those that need it.
Well written.
#2 by bipolar2, Jul 9, 2008
** you've got a lot to do if your credit rating is low **
1. you need a report from each of the 3 major bureaus. (one or two will not do.)
2. get a copy of your ** FICO (Fair, Isaac & Co.) credit score. ** This is the score that the vast majority of all lenders will use as a single measure to evaluate you.
That's not just for new loans, add-ons to loans, insurance -- but also for employment! Yes, it's that important. (It's an easy way for lenders to see just how responsible you've been across time.)
Go to the Fair, Isaac web site. Read about the score, what it means, how to improve it (and that's a long term task).
I used to work for FICO; so this ain't no bull.
bipolar2
#3 by Sandra L. Petersen, Jul 14, 2008
These are some great tips for beginning to get a credit rating back up. I read an article that said that even things like traffic tickets and overdue library fines can be used to determine if you can get a loan for a house or vehicle. So many things go into determinations for loans nowadays from what I've heard.
#4 by ecrivan/ wordwizard, Aug 24, 2008
so I would have liked to inform credit card users while doing a stint for an outsourced Visa company...to many people depend on money that is not there and the Visa people thrive on that..depending on credit can become an illness, if people are fixed on payments and other credit issues
Well written.