Norman Burr asked: Do you dread signing up for credit cards, loans or other credit related offers? Is it because you consistently get turned down for credit? It’s a horrible feeling to get that letter in the mail stating that so-and-so company cannot accept your request for credit because you have delinquencies on your credit report. That’s why you should try to fix your credit. You can do this by getting your one free annual credit report.
If you have horrible credit, you’re not alone. There are many people who share your exact credit score, no matter what that number might be. Divorce, a death in the family, an injury, a job loss and much more can contribute to a horrible credit rating. And that’s not even considering the fact that the person may have horrible book keeping habits, or is addicted to credit card shopping.
Whatever the reason your credit score leaves a lot to be desired, you should know that you can fix it and you don’ t have to pay anyone to show you how. The first thing you need to do is get a hold of your annual credit report. Everyone is allowed one free report each year by the three credit reporting bureaus: Experian, Trans Union and Equifax. Submit your request in writing or see if you can access it online. These days it’s common to be able to view your annual credit report online so that you can print it out instantly instead of waiting for it to arrive via snail mail.
The first thing you’ll want to do when you have your annual credit report in your hand is you’ll want to look for errors. Look for debts that don’t appear to be yours. Look for amounts you’ve already paid off. If you find anything that looks as though it shouldn’t be there, dispute it. Most of the time, you can dispute the report blemishes online so that you can get a response faster. If you can get some items taken off your annual report, you will be making progress towards improving your credit score.
Small BalancesTo help your credit score, you need to eliminate some of the people or businesses you owe money to. Start paying off the little balances first. Pay off as many as you can afford. When you begin to eliminate items off your annual credit report, you’ll see your credit score increase over time.
Large BalancesThe best thing to do with large balances on your annual credit report is to not let them overwhelm you. Chip away at them bit by bit. Soon, after some time, you’ll notice those balances getting smaller and smaller. But just the fact that you’re paying on them will often reverse the red mark against them. Keep this type of behavior up, and soon, after a few years, your annual credit report will look better and better each time you get it.
Teresa
