| Your credit score is a number that lets lenders know | | | | agency has verified it. |
| at a glance how likely you are to repay a loan. The | | | | Close Credit Accounts That Are Not in Use |
| higher your score, the better your credit. A good credit | | | | If you have a credit card you aren't using, it's a good |
| score can mean the difference between getting | | | | idea to close the account. Otherwise, the account |
| approved for the loans you want or getting turned | | | | stays on your record as available credit. Having too |
| down. If your credit rating is low, there are some steps | | | | much available credit can lower your credit score. |
| you can take to repair it. | | | | Use Credit Responsibly |
| Obtain Copies of All Your Credit Reports | | | | The best way to fix a poor credit score is to show |
| Three agencies keep track of credit scores: Equifax, | | | | lenders that you can manage money responsibly. Pay |
| Experian, and TransUnion. Obtain your credit report | | | | your bills on time. If possible, try to pay more than the |
| from all three of these agencies. | | | | minimum due on credit card balances. Most creditors |
| Challenge Inaccuracies | | | | are more interested in what you have done recently |
| If you see something on your credit report that is not | | | | than in mistakes you might have made a few years |
| correct, challenge it immediately by writing to the credit | | | | ago. |
| reporting agency. Send copies of any documentation | | | | Be Realistic |
| you might have to back up your word. Keep a copy | | | | Bankruptcies stay on your credit report from seven to |
| of all your correspondence with the credit reporting | | | | ten years after the date of discharge. A charge-off |
| agency. | | | | will stay on your record for up to seven years. There |
| Do not waste your time by challenging damaging | | | | is nothing you can do to make these negatives go |
| information that is accurate. While your challenge might | | | | away more quickly. The best you can do is show |
| get the information removed from your report for a | | | | creditors you are in charge of your finances now. |
| brief period, it will only appear again once the reporting | | | | |