How to Clear a Credit Rating

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Clearing a credit rating can be done by contacting each of the major reporting agencies, Experian, TransUnion and Equifax, requesting a credit report and fixing any discrepancies in writing. Clear a credit report for a more accurate score with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management & Credit
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Video Transcript

This is financial advisor Patrick Munro talking about how to clear a credit rating. If your credit has been rated at a certain level and you're uncomfortable with that level, there must be a reason why. The first way to uncover that is to find out what your status is with each of the three credit reporting agencies. They are Experian, TransUnion, and Equifax. Each three report your credit in a different way. The best way to clear a credit report is to have the data that is currently available from each of those agencies. So, you must write and request that. Once you receive that in the mail, then you would go over that to make sure that everything is proper. If it isn't and there's a problem, you need to clear that. And the way you do that is send a letter to the vendor that has malicious information on your credit report. Once it's cleared and reported back to the agencies then you too have cleared your credit report. This is financial advisor Patrick Munro talking about how to clear a credit report.

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