How to Clean Up Your Credit Report | CreditShout

How to Clean Up Your Credit Report

how to clean up your credit report

Did you know that your credit report is the one piece of essential information that gets you approved for credit cards? The credit report contains information about payment history, open accounts, mortgages loans and other consumer debt. When you apply for credit, the customer credit report is pulled and the information is examined to determine the eligibility for the credit line or type requested.

There are certain things that we can do to clean up the credit report. If you have obtained a copy of your credit report and have found a discrepancy on the report – rest assured that these issues can be fixed to perfect your high credit score. Find out how your credit score is calculated here.

Did you know that if you have these discrepancies corrected that you can request that the corrected report be sent to anyone who has requested the report within the last six months? This could change a denial to an approval, depending on the gravity of the discrepancy.

Each discrepancy on the credit report is accompanied with the name, phone number and contact information of the person or company who had initiated the report. The customer is able to add a message with the online credit report, to a maximum of one-hundred characters to explain their side of the story in the situation. This should be used as a last resort to try and alleviate the damage that has come with the negative credit report entry.

When it comes to obtaining information and fixing discrepancies that are present on the credit report, the internet is a valuable tool. Credit reports available on the internet not only offer links that allow the customer to dispute the report, explain themselves, or get into further contact with the company that has opened the dispute.

Some discrepancies may include address or contact information. For these discrepancies, something as simple as providing proof of address can yield positive results. Valid proofs of address most often include a bank statement, credit card bill or utility bill for the property.

The process of correcting credit reports comes easy with the access to online credit reports. Many online credit reporting options allow the user to simply follow a link to make any corrections to the discrepancies that may be listed in the report.

A letter to the creditor can go a long way in removing negative entries on the credit report. Most often, this written letter can warrant the removal of the entry. Some negative entries on the credit report such as bankruptcies or payments that have become defaulted are present on the credit report for up to ten years, depending on the legislation in your state, or country.

The truth is, changing one to two discrepancies on the credit report could greatly improve the credit score.

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