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Credit Tips

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A Guide to credit repair  

Some people say that LOVE makes the world go around, they are wrong it’s CREDIT! As we are seeing today, the lack of credit availability is destroying the world’s economy. It is also destroying the hopes and dreams of millions of people as well.  

The banks have raised their standards and millions are being denied credit. They say they are going to reduce their exposure by cancelling millions of credit cards on all levels of credit worthiness – you know as well as I that the poor to fair credit individuals will bear the brunt of this reduction.  

What can we do? How do we raise our credit scores to be able to keep our credit standing and secure better interest rates?  

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A key component to managing your credit is to monitor the information on your credit reports. You need to get a copy of all 3 of your credit reports – Equifax, Experian, and Trans Union and review them for any possible errors. The Fair Credit Reporting Act provides consumers with a free copy of their report once a year. However, to secure this free report you must obtain it throughwww.annualcreditreport.com or call 1-877-322-8228.  

A credit report is divided into 4 sections. Make sure you review the data in all 4 sections carefully and report any discrepancies to the credit bureau – identifying information – credit history – public records – inquiries.  

Special tip – every time you allow someone to check your credit, it negatively impacts your score 1-2 points.