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How Can I Fix My Credit?
Informative

2020-07-22
icon/user/avatar/20 Created with Sketch. By MyBirdie.biz

Last week, we talked about checking our credit scores. If you missed last week’s blog, click here to see how you can sign up to see your credit scores today. This week, we’re going into the world of low credit scores, and how you can revive yours! Alas, even the worst credit scores can be fixed. Let’s see how. 

 

 

Check Your Credit Reports for Errors

While we showed you how to take a look at your credit scores, we didn’t show you how to get your credit report. Let’s see how. 

 

Every major credit bureau (Equifax, TransUnion, and Equifax) has to give you one free credit report per year. When you space it out, you can get one credit report every four months. You can request a free credit report here, or through the phone: +1-877-322-8228, or by mail, with a request form linked here

 

If you ever need a copy of your credit report, you can buy them straight from the credit bureau. Their copies cost $1-$11. 

 

Now onto checking your reports. Whenever you get your free credit report, you must keep it close and safe and also scan it closely. Check closely for:

 

 - Wrong personal info

- Wrong accounts

- Unlisted/missing accounts that should be on your report

- Wrong public records like foreclosures or bankruptcies

- Account information that isn’t right (an account being open when

it’s not)

- Multiplied accounts (same accounts twice or more)

- Data errors

- Delinquencies or derogatory marks

- Fraudulent activity

- Wrong inquiries 

 

Simple mistakes dent your credit score a whole bunch. People who have fixed little mistakes have their credit score go up by a big chunk!  When there are errors in your credit report, your score can and will be affected. Bad credit score means no loans, no big purchases, etc.

 

 If you find a mistake of any kind on your credit report, you need to check to see if the same mistake is on your other two free reports. It’s important to have your credit report in check so you have the best score that you can get. 

 

What To Do if You Found A Mistake on Your Credit Report

When you find a mistake on your credit report, you have to fix them of course. Credit bureaus legally have to try to fix the mistakes on your credit report. You can request them to fix your credit report through email, phone, or online.

 

Along with contacting the business directly, you should also tell the creditor or lender what the mistake was on your report. They should be able to fix it on their end, which should update your credit report to the main bureaus. Most of the time you should get a response to your problem anywhere from 30-45 days. 

 

Experian:

Click here to do it online.

Call 800-916-8800 to request through the phone.

Mail to Experian, P.O. Box 4500, Allen, TX, 75013

 

Equifax:

Click here to do it online.

Call 866-349-5191 to request through the phone.

Mail to Equifax Information Services LLC, P.O. Box 740256, Atlanta, GA, 30374-0256

 

TransUnion:

Click here to do it online.

Call 800-916-8800

Mail to TransUnion Customer Solutions, P.O. Box 2000, Chester, PA, 19016-2000

 

Make Sure to Pay off Old Debt!

Whenever your credit is bad or off, you also have to take a look into late payments, accounts, overdue balances, etc. As long as your payments aren’t 30 days past the due date, they’re not considered late to the credit bureaus. If they’re later than 30 days, they’re considered late, and creditors and bureaus will raid your credit score and lower it by a ton. 

 

The longer you put off a late payment, the lower your credit score will turn out. Late payments can stay on your credit report for years and years, so it’s very important you pay late or past due accounts. Make sure to keep track of your credit reports and pay off late due payments! Even if they’re late! Better late than never!

 

Open a Credit Card

Opening a new credit will help to improve your credit. A new credit card means you have a bigger amount of credit, meaning your credit utilization will lower. The smaller your ratio, the better your credit score will turn out.

 

 Accounts that have been open for longer and have a good payment history are good for your credit score. Keep old accounts with good payment history open. You build credit age, which is good for your credit score in the long run. 

 

Pay Your Bills On Time!

When you meet your deadlines for monthly payments, you show your creditors and future lenders that you’re responsible with money. ALL of your bills need to be paid on time, whether you’re trying to fix credit or not. It’s very important since these things are the main components your bureaus look at when giving you a credit score. 

 

While these steps need to be taken, you can also take bigger steps towards improving. Rodeo Auto is a car business that will improve your credit. You can purchase a car with little to no credit and they’ll find a way to help improve your score. 

 

Next week, we’re going into detail on how purchasing a car will help your credit score! Stay tuned to fix your credit and get a new car while you’re at it!

 

Signing off, MyBirdie.biz!

 

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