How to improve your credit

Credit crunch and economy fears are driving Americans to unbelievable cut backs.

One way to ensure you no longer suffer the credit crunch is to improve your credit score

Difficulty: Challenging

Instructions

Things You'll Need:

• Patients
• do it your self

1. In most state you are entitled to one free credit report from all three major credit reporting agencies.
   www.Equifax.com
   
   www.experian.com
   
   www.transunion.com The least one used but the easiest to fix

2. Once you obtain your Free credit reports remove any variations in your name eg: spellings, miss labels and most important address and employer information

3. Next, get typing, make sure every thing on your credit report is reflecting your current balance or any negative items are deleted. Most negative items are to be deleted automatically, over the years, but never count on them to do it.
   
   You can even delete negative items that are fairly knew too. Credit reporting companies outsource to research companies for any item challenged by you on your free credit report and when dollars spent investigating out weighs money being made they will assume what you say is true and delete it. Some credit companies or banks will pay to add it again later.
   WHowever if you owe $ 100.00 of a negative balance and they are spending more to keep it on your credit report, it eventually goes away

4. The worst thing that affects your ratings are the debt to credit ratio. Just because you have a $ 10,000.00 discover or American Express card and you already charged 9800.00 does not make you a prime candidate for more credit.
   
   Having a 10,000 limit with only 1,000 owed is a whole lot better. Pay down your credit card debt. Lower the balance.

5. The second worse to effect your credit score are the bank or loan companies inquires. It drastically lowers your credit score. Keep this in mind if you apply to a site like lending Tree. Your credit report is actually looked at by hundreds of business looking to make you an offer. This easy solution for finding a loan actually harms your credit score.
   Even cell phone companies check your credit report.

6. Over time they will drop off your report, however if you take the time and talk with each credit report company you can have them deleted.
   
   This simple task took me about two hours but after fixing some bad names and address from a previous identity theft and no police report to mail in I was able to improve my score by 180 points.

7. Stop applying for new credit. Fix whats wrong with your score now. Wait about one year before reapplying for any new credit card oe increase. Bank loans are nearly impossible to get with out any equity or collateral so do not even waste your credit points trying for these loans.
   
   Car dealers are getting you financed today no matter what your score is but mortgage companies are strict like you can not possibly image. Stop applying for one year, every time you investigate or challenge anything on your credit report the comapanies must investigate and send you another free copy.

8. If the results you hoped for are not what you see, start a new investigation. They must tell loan companies whats being challenged by you.
   
   Thats what the credit repair companies in the world today do they have full time people putting in investigations for you at alarming rates.
   
   Take advantage of the cooment section that let's you type an explanation and explain your reasoning for a bad mark. Sometimes what seems to be a negative on your account is simply a matter of explaining your situation.
   
   Master Card , Visa, American Express, Diners Club and Discover

Tips & Warnings

• Takes time
• takes a little more than a year but it can be done

[StreetBloggers]

on 11/15/2008 MATAB with us economy the way it is, Credit will soon be thing of the past, Everyones credit will be so screwed soon enough banks will only care about jobs or assets. Credit companies will have no choice but to offer start fresh or eliminate bad stuff.

I heard Texas is what we call a forgive me state? Live there for a year and state banks and loan companies forgive your past and lend lend lend. Any truth to this?

[Matab]

on 11/15/2008 Arggg, It took me some gut to actually read this article because I hate thinking about my credit cards and credit scores... I need to save this, thanks

[jkg0679]

on 11/3/2008 Thanks for the advice!

[iamageniuster]

on 10/24/2008 You got some excellent stuff here. 5 stars!