Your credit score gives you the power to move ahead in life the way you both want and deserve. There are times in life when your credit score takes hits and is lowered. There are also times when your score is lowered and you do not know why.
Staying on top of your credit score is crucial to maintaining your financial power throughout life. When your score is lowered, whether by accident, fraud or your own doing, it is crucial to boost it back up as quickly as possible. Read ahead for top tips to boost your credit score today.
Does your credit score have errors? It is important to know the answer to this question at all points every year. Errors on your credit report do silent damage in the background of your life. It is embarrassing to apply for a loan or a credit card and be unexpectedly denied.
It is also damaging to your finances going forward. How do you discover errors on your credit report? Are there valid ways to dispute and correct any errors you find?
Errors in a credit score are sometimes caused by identity theft and/or fraud. Other times a credit card company, lender or other institution makes erroneous reports. For example, it is possible you paid your credit card bill on time but the credit card issuer failed to report your payment as received.
It is also possible for a health insurance company to deny payment on a medical service and neglect to notify you. Occasionally a medical company tells you the bill/service is covered when in actuality it is not. As a rule, you receive notices in the mail about outstanding medical bills. When a bill gets lost in the process beyond your control, however, you might have a negative mark on your credit report you didn’t know was there.
You have the right to dispute any and all charges on your credit report, especially those you did not authorize or make yourself. Use the AnnualCreditReport.com website to get a free copy of your credit report from Experian, TransUnion and Equifax alike.
Dispute anything you neither recognize nor made on your own. You also have the ability to leave notes on your credit report explaining why any mark against you is an error.
While this is not as effective as having a charge fully removed, it does give you a better chance with lenders to get the funds you need when attempting to borrow money.