| If your credit score isn't very high--and your credit | | | | making payments on time, or you haven't been making |
| report has a few black marks--making some | | | | payments at all. Words like "repossession," |
| improvements can mean a big difference in loan | | | | "bankruptcy," or "foreclosure" are even worse, |
| approvals and credit card interest rates. Fortunately, it's | | | | because they tell the creditor that you've allowed your |
| easier than you think to improve your credit history. | | | | delinquency to go for so long that someone had to |
| Just follow these three simple steps: | | | | take action. |
| 1. Get a copy of your report | | | | 3. Take action |
| It's hard to improve your credit report and credit score | | | | If the black marks on your credit report are erroneous, |
| unless you actually know all the information that's being | | | | contact both the creditor and the credit reporting |
| reported about you! So obtain a free copy of your | | | | agency to have the mistake fixed. If you actually have |
| report by either contacting the three major credit | | | | an account that's past due or delinquent, your best bet |
| reporting bureaus or searching for an instant copy | | | | is to start making payments immediately--and keep |
| online. The online version is the easiest and fastest | | | | making them every month. If you have a bankruptcy |
| because you simply fill out the form with your name, | | | | filing or foreclosure on your report, now's the time to |
| address and similar information, then click the "submit" | | | | start rebuilding your credit history by obtaining some |
| button to get your results immediately. Just remember | | | | secured credit and making regular, on time payments. |
| to print them so you have a hard copy of your report. | | | | You can improve your credit report and credit score if |
| 2. Look for red flags | | | | you're willing to take the time to make changes. Errors |
| Phrases such as "non-paying," "charged off," or | | | | and mistakes are typically relatively fast fixes--expect |
| "default" are red flag signs that could be bringing down | | | | to have them removed from your report in 60 days or |
| your credit score. Other negative notations include | | | | so. Legitimate negative items, however, will take a little |
| "past due," "unpaid," "delinquency," and "collections." All | | | | longer to repair. |
| of these items indicate that you either haven't been | | | | |