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Fix Credit Rating – How I Increased My Credit Score by 132 Points

Last year I need to fix my credit rating and I needed to do it fast. I used to have a very low credit score of 523 points and I could not get approved for a loan or a gas card.

I am not going to tell you some sad story about how I lost my job and all was lost. That would not be the truth. The truth of the matter is that I was so careless with my spending and the way in which I was using my credit cards. Even when I had money, I would still charge things on my credit card.

If you know anything about credit cards, you know how easy it is to get a card once you have established yourself with a few of the top credit card companies. Well, my ex and I started applying for and receiving all kinds of credit cards. Back then we just figured that we could handle the minimum payments each month. You do not realize at first that even thought the payment maybe less than twenty bucks, you get several bills like that each month and it adds up quickly.

Before we knew it we had close to twenty-five thousand dollars worth of credit card debt. And let me tell you that it do not take long to get that deep into the hole with credit cards. The credit card companies are very smart people and they know how to play on our greed and wants. You start getting “you are approved” applications in the mail every month and eventually you will fill them out and get a credit card.
My ex and I got divorced several years ago, and it took me some time to get my act together. But one of the things I never said was “my ex messed up my credit”. Trust me it was a joint effort messing up our credit. I did not blame anyone but myself for the situation I was in and I knew I had to do something to change my situation.

My credit union had a credit and budget management class and I took it and it helped me, but my credit rating was just getting worse. Then one day, I stumble upon this site about how to boost your credit score in 37 days or less. The site claimed it could help you raise your credit score by 135 points in 37 days or less and it only cost $37.00 bucks.

I figured it is only $37.00 dollars why not give it a try. Bottom line is the program worked for me and I was able to raise my credit score by 132 points. The best part for me was that I was able to delete so many late payments from my credit reports. This really helped me when I got my new job and I need to move into an apartment near my new job. I was nervous that the apartment folks would run a credit check and deny my application, but they told me that my credit was great.

Now that I got my credit rating up and I was able to fix my credit rating, I will never be stupid with credit cards again.

Do you want to know more about how to fix credit rating [http://how-fix-my-credit.blogspot.com/]? Learning about credit is not a mysterious process. Discover the secrets to cleaning up your credit and how to remove negative items from your credit report.

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How to Identify and Remove Credit Report Errors

We live in the age where intrusion is a common phenomenon. Big Brother is not the only one that is watching you. Financing companies, banks and auto lenders also monitor your credit report and analyze the confidential financial information that is provided in it.

And, if there is an error on your credit report, it can create massive problems for you. It can increase your interest rate, obstruct you from getting a job or prevent you from buying a car. A study by FTC has revealed that one in every five customers has an error on his/her credit report. So, you must check it for any errors and remove them at the earliest.

What are the Common Credit Report Errors?

Inaccurate Identity Information

The three foremost credit bureaus – Equifax, Experian and TransUnion collect information of every American. They commit errors because of two main reasons: massive data management and human involvement. Following are the examples of errors:

1. Incorrect Name and Address

2. Error in Employment Information

3. Mistake in Social Security Number

Errors in Financial Information

A bank or a financing company may pass inaccurate information to a credit bureau. Also, a credit bureau can commit errors while processing your financial information. The most common financial errors include:

1. Unwarranted Financial Transactions

2. Duplicate Entries

3. Incorrect Origination Date of Mortgage

4. Out-Dated Bad Debts Record

5. Bankruptcy Information older than 10 Years

Existence of Fraudulent Accounts

According to Javelin Strategy and Research, 13.1 million Americans were victims of identity fraud in 2013. The number shows how commonly a person’s information is misused in order to access money.

So, while checking your credit report, you must pay attention to any unwarranted line of credit. If you find any unjustified auto loan, credit card or home mortgage, contact the credit bureau immediately and opt for a security freeze on your report.

How to delete Errors from your Credit Report?

Do not worry about errors on your report, here’s a step-by-step procedure to help you remove them:

Collect Evidence

If you think there is an error on your credit report, you must collect evidence to support your claim. It will help you in proving the relevant credit bureau wrong. Also, it will ensure faster results. For example, if you think that the auto loan origination date is inaccurate; you must find the auto loan contract and show the accurate date to the credit bureau.

To remove errors from your report, you must dispute it with the relevant credit bureaus. Highlight all the errors and attach evidence. You must also write a letter to the credit bureaus and explain your situation in detail.

Inform the Relevant Credit Reporting Agencies

Credit reporting agencies such as banks, credit card companies and lenders provide financial information to credit bureaus. It helps the credit bureaus in keeping track of your financial situation. They have a legal responsibility of investigating your complaints. So, if a bank is providing incorrect information, inform the bank authorities immediately.

Now that you know what the different kinds of errors are, identify them and follow the step-by-step procedure to remove them. It will help you in keeping your credit report risk-free.