How to Rebuild Credit & Improve Scores

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Summary: Rebuilding credit and improving scores can be done by contacting each credit bureau, Equifax, Experian and TransUnion, to request a credit score report and trimming back credit card balances based on that information. Fix potential financial problems to get a better credit score with money advice from a registered financial consultant in this free video on personal finance.

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By Patrick Munro
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Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more

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Video Transcript

"This is financial adviser Patrick Munro talking about how to improve credit, improve scores and rebuild credit. And when you do that, the score is all important. How do you find your credit score? Well, you need to go to the credit bureaus. There are three of them; Equifax, Experian and TransUnion. And, it's all operational based on your social security number. Send in letters to each of the three credit bureaus requesting your active credit file, and look at your existing scores. If they're low, you can rebuild them by trimming back credit card balances, by cleaning up erroneous information on the credit report by sending letters back to the bureau with full explanations as to why that problem no longer exists. They'll drop that from the credit bureau and, of course, improve your score. It's an active management thing that you're involved in when you do this. It takes time. It takes energy. It doesn't take a lot of money to do that, and the results down the road will definitely benefit you. This is Patrick Munro talking about how to rebuild credit and improve scores."

eHow Article: How to Rebuild Credit & Improve Scores

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