How to Build Your Credit in 60 Days

You can improve your credit score by contacting the credit reporting bureaus

A lot of times a poor credit score is a result of errors on your credit report. Get a copy of your credit report so you can see what information is being presented to financial institutions. By writing to the credit reporting agencies, you can get errors or incomplete information removed. These changes can improve your credit score in as little as 60 days. As long as you complete these steps and follow up with the credit reporting agencies, you'll be able to raise your score.

Things You'll Need

• Copy of your credit report from each of the three big credit reporting agencies
• Addresses of the credit reporting agencies
• Addresses of your creditors

Instructions

1. Get a free copy of your credit report from the three credit reporting agencies (see Resources). This site is set up with the cooperation of Experian, TransUnion and Equifax. You are entitled to a free copy of your credit report each year. You can also have a free copy within 60 days of being denied credit.

2. Compare your credit reports. They should all have the same creditors and items listed. Review your accounts for incomplete or incorrect information. Look for incorrect addresses, misspellings of your name or accounts that should have been closed. Verify your payment information with your creditor statements. Make a note of each of the errors and which credit bureaus you need to contact. You can obtain the addresses for the complaint departments of each of the credit reporting agencies online or on your credit report.

3. 

   Draft your dispute letters. Start with the contact address of the dispute department at the top of the page. Follow with your contact information, including your phone number, so that the credit reporting agencies can reach you if need be.

4. In your letters, detail whether the items in question are incomplete or if they are inaccurate. This will determine how the credit reporting agencies will deal with the disputes. An inaccurate item shouldn’t appear on your credit report at all. An incomplete item should be corrected.

5. Give the credit reporting agency specific instructions of what to do with the information that you’re providing. Ask them explicitly to remove the information or update it. If you are asking for an update to the information explain exactly what change you would like them to make.

6. Include a copy of the credit report in question with the disputed items circled or highlighted. Include statements, letters from your creditors or other information that will verify your request for changes or removal of items. Highlight important information so that the reviewer will know exactly where to look. At the end of your letter list the items you’ve enclosed in the order they are stacked.

7. 

   Follow up with the credit reporting agencies a month after sending out your letters. Creditors have 30 days from the time they receive the letter to either verify the information on your credit report or make the changes you requested.

8. If your accounts come back verified, write back to the creditor and ask for the name and number of the person who verified the account, as well as your consent for the account to be opened. If this information can’t be provided, they are required by law to remove the negative item on your credit report.

Tips & Warnings

• Check your credit report every 6 months so you can stay on top of errors.

• Keep complete records of your creditor statements.

• Make your monthly payments on time to improve your credit score.

• Don't request a copy of your credit report more than twice a year. Any more than that could have a negative effect on your credit score.

• Dispute letters won't remove legitimate negative items on your credit report.

Resources

• The official free credit report site from Experian, Exhedra and TransUnion