Credit Score Increase Guide
If you would like to know how to fix your credit score, then you will want to read on. Specifically, we will be discussing what you need to do step by step for a credit score increase. After reading this article, you should be ready to begin credit repair!
Review Your Report
The first step in the credit restoration process is to get a copy of your credit report and review it carefully. You can get a copy of each of your three credit bureaus once a year at annualcreditreport.com. If you have already received your free report this year, there are numerous other websites that will provide you your report for a small fee. You can also get another free credit report if you have been recently been turned down for credit or employment due to your credit file.
Once you have your credit report, you will want to go somewhere quite and review your report. Take a highlighter and make note of anything that is derogatory and anything that is inaccurate.
Make a Plan of Attack
- What to Look For
After you have reviewed your report, you will need to make a list of any accounts that you want to dispute with the credit bureaus. Key things to dispute include:
Accounts with a late payment
Collection Accounts
Charge-Offs
Accounts that have had more than 7 years since the date of last activity
Credit Cards with the credit limit reporting too low
- Dispute 2-4 Items at A Time
Once you have your list, you will want to select a few items to dispute at a time. Disputing everything at once can result in your disputes being discounted as being frivolous. Try to select items that will have the most impact on your credit history to start with.
- Wait for Results then Repeat!
Creditors will have 30 days to respond to the credit bureaus regarding your dispute. You will be notified when your credit report has been updated. You should wait another 30 days and then continue with your next round of disputes. This is one one the best ways you can increase your credit score.
