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How To Repair Your Credit Score

 


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Your credit score is one of the most important numbers in your life. It can help and make your future through what credit you are able to get and what you are denied from getting. So isn't it scary that a majority of Americans don't even know their own credit scores. It is even scarier to know that 79% of all credit reports contain errors. That means 3 out of 4 credit scores are wrong. Is your credit score correct?

The first thing you need to do is get a copy of your credit report and find out what your credit score is. There are lots of free online credit report sites including the government ran site http://annualcreditreport.com/ that entitles everyone to one free credit report from each of the 3 major credit bureaus Experian, Equifax and Trans Union each year.

Review your credit report and make sure everything is correct. One error like a late payment can deny you credit or cause your interest rates to skyrocket. You can dispute any errors or inaccuracies to the credit bureaus through each of their individual websites.

The credit bureaus are required by law to investigate any dispute that you have. They will contact your original creditor and if the account is not verified it will be removed from your credit report. This is the fastest way to remove anything from your credit report.

Your credit history makes up 35% of your credit score and is the biggest part of your credit. Other parts of your credit score include debt to credit ratio at 30%, length of credit history at 15%, types of credit at 10% and credit inquiries at 10%. All these areas must be addressed to improve your credit score. You can work on each by paying down debts, increasing your credit limits, getting a variety of different kinds of credit like auto, mortgage and credit cards, and applying for new credit as minimally as possible.

This will drastically improve your credit scores and make it possible for you to the credit that you want. Credit repair is legal and most important thing you can do to manage your finances. Get your free online credit report today.

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