You credit report is actually your credit history for a period of time. Even though it is just a three-digit number but it has great importance in today's business world. Many money and bank lenders solely depend on your credit report to judge your financial stability to grant a loan. It's quite possible that your credit report may contain some errors and flaws. Remember this small error in your credit report can actually affect your credit history in a big way. In order to overcome this problem you need to get the error rectified as quickly as possible. It's a good idea to request a free copy of credit report at least once in six months.
When are you entitled for a free copy of credit report?
? You are entitled for a free copy of credit report if you have been denied credit
? If you are unemployed and intend to apply for employment within 60 days.
? If you are a public welfare assistance
? If you report has been revised
? If you credit report contains inaccurate information due to fraud or theft
It is estimated that at least 48% of consumers have errors in their credit files and 12% of those errors are severe to result in credit being denied. It is unfortunate that these mistakes can actually cause you to be denied a loan, insurance or employment.
Can I get a free copy of my credit report?
? You are entitled for a free copy of credit report if you have been denied cedit
? If you are unemployed and intend to apply for employment within 60 days.
? If you are a public welfare assistance
? If you report has been revised
? If you credit report contains inaccurate information due to fraud or theft
How can you fix your credit report?
? Check your credit report at least once in six months and rectify errors in it immediately
? Do not open unnecessary account. It would be advisable to shut down all the unnecessary accounts
? Do not open multiple accounts at the same time. Remember a zero balance account is also taken into consideration.
? Repair your credit report in case of any errors
? Pay your minimum balances before the due date. This alone will fix your credit report
