Improving Your Credit Profile: What You Can And Cannot Do - CREDIT RATINGFree Credit Report Directory. Find free credit report providers, learn the importance of checking your free credit report annually |
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| TODAY'S SAVING TIP You may, on your own, notify a credit bureau in writing that you dispute the accuracy of information in your credit file. The credit bureau must then reinvestigate and modify or remove inaccurate or incomplete information. The credit bureau may not ... Read more | |||||||||
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CREDIT RATING: Improving your credit profile: what you can and cannot doHave you ever tried to rent a car or reserve a hotel room without a credit card? If you have, you know how important good credit is. Those without good credit find it difficult to obtain financing for the car they want, they have trouble qualifying for a mortgage, and their days are often filled with worry over unpaid bills. If you have credit problems, you can improve your credit profile on your own for little or no charge. Unfortunately, to many consumers are falling prey to enticing ads by "credit repair" companies that demand an up-front fee for the false promise that they can "repair" your existing credit record or create a new one for you. Fraudulent credit repair companies may claim that they can remove negative information from your credit report. Or they may encourage you to create a "new" credit report or identity by applying for an Employer Identification Number (EIN) to use instead of your social security number. An EIN is used primarily by businesses, and obtaining an EIN under false pretenses is a crime. A credit repair company cannot remove negative, but accurate, information on your credit report. It will be removed only after the required amount of time as stated in the Fair Credit Reporting Act. For example, records of bankruptcy can remain on a your credit report for 10 years and foreclosures are reported for seven years. To legally improve your credit profile, you should: ADDITIONAL CREDIT RATING RELATED FACTS Does Your Credit Rating Get Better If You Have More Credit Cards ? How Is Credit Rating Measured? Can I Ever Improve My Credit? Paying Off A Loan Early What Exactly Is Bad Credit? What Is A Credit Rating? Building A Good Credit |
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