Improving credit score ratings And FICO score rating, our credit report is actually a credit history, so the first step to improve credit score ratings is seeing to it that all the activity reported about you is positive.
What about all of those positive accounts you have that aren't listed on your credit report? Do you have sterling payment records that are unmentioned? If so, you can have these placed on your report.
Anyone with whom you have credit transactions reports to one or more of the credit bureau agencies about your account.
You are entitled to one free credit report from each of the three credit reporting agencies each year, so that should be one of the first steps to improving credit score reports you take and it will be to your advantage to request your credit report to see if all the information is accurate and up to date.
The law remains unclear about adding favorable items to a credit report, but the FTC has advised credit bureaus that where a report has resulted in unfavorable action against a debtor, the debtor should be able to add to the report to create a more complete and balanced picture of his or her repayment history.
Consequently, most credit bureaus will, for a small fee, contact any creditor you name and add that creditor’s favorable information to your file. The charge will usually be $3 to $5 per item.
If you feel it will help in offsetting some negative items on your credit report, or that it will fill out an otherwise incomplete report, adding a creditor’s favorable information is well worth the investment while improving credit score records at all three credit bureaus will save you money on any loan you apply for in the future.
Call your non-reporting creditors with whom you have a good relationship and a spotless payment record. Let them know you need your account information listed on your credit report.
Once they agree to release your account record, tell them which credit bureau will contact them. Do this for each good account you want listed.
Next, contact the credit bureau with your list of non-reporting creditors. Ask the credit bureau to contact these creditors and add the items to your report as soon as the information is verified, using Request for Addition of Supplementary Credit References form, which you can get from the credit bureaus online.
If a negative report is more than seven years old, it should be removed without your asking, when taking steps for improving your credit scores always check your report. Others can be removed if you can prove there was a mistake.
Once you have cleared your credit report of as many negative items as possible and added all possible positive items, you should have a new and reasonably good credit report, one that will give you the credit you need for a more enjoyable future.
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Disclosure: I am an independent Credit Repair Cloud™ Affiliate, not an employee. I receive referral payments from Credit Repair Cloud. The opinions expressed here are my own and are not official statements of Credit Repair Cloud.