| If you want to get the best percentage on any type of | | | | Understanding how FICO derives your credit score is |
| loan that you apply for these you must have a good | | | | something that you will need to do your due diligence in |
| credit rating. You need to have a credit rating that has | | | | so that you understand how even late payments |
| high numbers but there are still people with bad FICO | | | | come into play and affect that score. FICO scores |
| numbers that may be unwarranted. | | | | range from 300 to 850. In actuality anything over 700 |
| If you want to know some initial steps on clearing up | | | | is considered an excellent score and only a few |
| bad credit then you'll want to read this article. | | | | percentage of the people actually have 850. |
| Discussion will be made as to your first initial steps to | | | | Getting back to the reports that you received and |
| clean up credit report inaccuracies. Then some | | | | noting discrepancies. You will need to contact the |
| discussion on how credit scores are determined and | | | | bureaus immediately and correct the problem. Do not |
| how to communicate with the credit bureaus. | | | | email but send a letter. This makes a better impact |
| After reading this article you will have an idea of the | | | | knowing that you have taken the time to manually |
| steps you need to take to identify bad spots on your | | | | write a letter to correct a wrong here. That will go a |
| credit, how to understand the credit numbers in your | | | | long ways in getting a better response than by email. |
| account and how to communicate with a good chance | | | | As always any type of communication that you have |
| of clearing your record of bad marks. | | | | with the credit bureaus make copies. It always seems |
| So the very first step is to take an analysis of where | | | | to happen that the more important documents get |
| you're at financially. Everyone is entitled to one free | | | | misplaced, lost, mismanaged or whatever else the |
| report from each of the 3 credit reporting agencies. | | | | case may be. If you have copies of every |
| Sending a request to Experian, TransUnion and | | | | correspondence that you send concerning your |
| Equifax is the order of the day. | | | | financial plight the better off you will be. |
| When you get the reports back you are looking for | | | | So in understanding the importance of that credit score |
| discrepancies in anything that is identified. Whether a | | | | is directly associated with your credit report you need |
| late payment was reversed or never was needs to | | | | to know what they are thinking of you. Get those |
| be noted. These reports are the crux of the FICO | | | | reports and make sure that they are accurate, if not |
| score and anything derogatory in them will certainly | | | | then start writing those letters to get your FICO score |
| affect your score. | | | | higher. |