|
Articles » Free Annual Credit Report | | What Information Can/Should I Add Or Erase From My Credit Report To Benefit My Credit? |
|---|
In a study conducted in 1998, the U.S. Public Research Interest Group found that 70% of all credit reports issued by the three major credit bureaus contained errors of some kind. Many of these errors, even the ones that were predominantly correct, when eliminated, also omit certain information that could be beneficial to you when you are seeking a loan or line of credit. There are ways to add to your credit report and procedures to eliminate erroneous information. We show you how to remove errors from your credit report and add beneficial information to your credit report
Adding information can be beneficial to you if you are someone who typically pays their bills on time. Credit bureaus don’t always include major commercial lenders or local banks that may not report their customers that pay on time. You can add this information to your credit report by writing a letter and including copies of your statements and canceled checks. The credit bureaus are not obligated to include this information, but most of the time they will.
You should also check all of your personal information to make sure that it is accurate and current. If your job isn’t listed and you’ve been there for a while, include it. Creditors like to see stability of employment and living situation. Make sure your current and prior address is listed so you can show how long you have been at your current residence. This is also the case for your previous and current employer.
Check your Social Security number and put in a bank savings or checking account number if you maintain a positive balance every month. Include the date you opened the account to show longevity. When all of this is done, check your credit report again for accuracy. Your name should be spelled correctly and so should any street names in addresses listed. If anything is incorrect, you can write to the credit bureau to request its removal. Credit bureaus are obligated to review these requests within thirty days and immediately remove any erroneous information.
One thing to watch for when reviewing your credit report is accounts that have been closed that may still be listed as open. This is a common mistake because many of these old debts are settled through collection agencies or other outside entities that may not report to the credit bureau. Always keep records and save receipts when you close an account. The credit bureau will request these when you ask for a status change on any account.
Comments
|
|
|
|
