| Just like regular people with various physical ailments, | | | | majority of consumer credit reports contain at least |
| your bad credit may also be ailing and in need of some | | | | one or more errors. The credit reporting agencies take |
| first aid. The problem is that most put simply put a | | | | no responsibility for these errors, insisting that they |
| band aid on their credit score, which leaves the bad | | | | don't make the news, they only report it. If you do not |
| credit score intact and does not attack the root | | | | dispute these errors when you find them, then the |
| problem, which can bring your credit score back to | | | | inaccurate information will be reported forever, where |
| good health with a respectable number. | | | | the end result is that you may have bad credit but it is |
| Your credit score is calculated by the credit bureaus, | | | | reported as being even worse than it really is because |
| and each of the three major credit reporting agencies | | | | of these errors. In fact, your credit may not really be |
| - TransUnion, Equifax, and Experian - will undoubtedly | | | | as bad as you think it is, or may not be reflective of |
| calculate a different score for you. This is because | | | | reality once the errors have been removed. |
| they do not share information between them, and they | | | | Next, make it a point to pay each and every bill on |
| only have access to the credit information that is | | | | time. Keep in mind that if your bill is due on the 10th of |
| reported to them. Your Visa company probably only | | | | the month, you need to mail it by at least the 4th or 5th |
| reports to one of them, your MasterCard company | | | | of the month to make sure the payment is posted to |
| reports to another one, and that loan you had | | | | your account by the due date. You may wish to |
| problems with via the credit union a few years ago | | | | consider using online banking, which is free at many |
| reports to yet a different one. The only credit | | | | banks, and then you don't even have to invest in a |
| references that likely report to all three of them are | | | | postage stamp to mail the payment. |
| the "big ticket" items such as your mortgage loan. | | | | Next, start a campaign that is designed to give you a |
| As a result, you might have a very healthy credit | | | | better credit score. Get a new credit card like a Visa |
| score at one agency, and another agency will report a | | | | or MasterCard, even with a low credit limit, and use it |
| credit score for you that is overdue for some major | | | | sparingly each month, making sure you pay it off totally |
| surgery. You need to be aware of what your credit | | | | at the end of the time, on time. If you cannot get a |
| report says about you, because a bad credit score | | | | new credit card, check into getting a secured credit |
| can be costing you hundreds and even thousands of | | | | card with a Visa or MasterCard logo and do the same |
| dollars due to the fact that you will not be getting the | | | | thing. In this case, your credit limit is determined by how |
| best interest rates possible on your credit cards and | | | | much money you have on deposit with the card issuer. |
| loans. Be aware that even a few fractions of a | | | | Make your payments on time each month, and the |
| percentage of interest can cost you hundreds of | | | | subsequent reporting of your prompt payment history |
| dollars every year on a large loan such as your | | | | will start to override those older entries on your credit |
| mortgage. | | | | report that showed late payments. |
| The very first thing you need to do as soon as | | | | If you cut your finger, you put on a band aid on to |
| possible is to get a copy of your credit report from | | | | allow it to heal. If you need surgery, you get it done so |
| each of the three credit reporting agencies. When you | | | | you can be healthy again. Treat your credit score the |
| receive it, read each and every word on each of | | | | same way, and do not just apply a band aid to stop |
| them, looking for errors or things that are not being | | | | the bleeding, but take steps to make it healthy again. |
| reported accurately. Studies have shown that the | | | | |