Covert Credit Report Secrets is part 2 of our eye opening series of special reports uncovering financial lies and demolishing social myths spread by credit report bureaus and corporations like Equifax, Experian, and TransUnion. It is meant to open your eyes to the real truth behind credit, credit reports and scores and maybe even save you a few bucks in the process.
The days of fair decision making are over. In the old days, when you applied for a line of credit, a bookkeeper would actually request a copy of your credit report from the credit bureau, thoroughly review it and discuss any questionable activities with the applicant before rendering a decision.
Unfortunately, manual credit report evaluation is no longer feasible with billion dollar corporations extending credit to hundreds of thousands of people per year. Now days, credit approval or denial decisions are evaluated instantaneously based solely upon your fico score. So you can forget about the age old myth that your credit report is meticulously read and evaluated by your creditors, it just does not happen anymore.
Furthermore, the fact that including a statement explaining a negative incident on your credit report is a complete falsehood as well. In fact including the 100-word personal statement in your credit report explaining the reasons why the negative incident took place, will only confirm the actions and make it even more difficult to repair the damage in the future. Besides, no human eyes will ever read the explanatory statement anyway, all your potential creditors care about is the bottom line, your credit score.
Check out part three of our special Covert Credit Repair series of reports: Covert Credit Score Calculations and discover tons of secret tactics you can use right now to raise your credit score and employ some serious ‘damage control’ to your credit report .