“It’s nearly impossible for me to get a decent credit rate because of false information on my credit report. Now what?”
“I was turned down when I tried to refinance my home. They say I have a foreclosure on my credit report, but I’ve never had a foreclosure! How do I fix this?”
Experian, Equifax, and TransUnion are the three major credit reporting bureaus in the United States. When you apply for credit for a major purchase – say, a car loan or home mortgage – or even for a credit card, the creditors base their “yes” or “no,” as well as the interest you will be charged, based on these scores. The merchant or lender may check with one or more of “The Big Three” to make their decision.
You should keep in mind that your credit report is a constantly changing record, and rarely do all three major credit bureaus have identical information. This is because different merchants and creditors report to different credit bureaus. Compounding this problem, some collection agencies intentionally and illegally provide information to “The Big Three” credit bureaus in an attempt to force payment. They are wise to the consumer’s potential application for credit down the road and understand that the consumer may pay, even if they don’t owe.
As in other situations of potential bad news, it is human nature to be anxious about finding out where one stands. It is, however, critical to stay on top of your credit history in order to avoid situations such as confused identities, other incorrect information, identity theft or other problems. Consumers often worry that online requests for credit reports will damage their credit standing even further. Free copies of your credit report, from each of the three credit bureaus, can be requested, once every 12 months. We recommend that you send a written request by mail that you can Credit Report Request Form, or if your situation is time-sensitive, you can download your free credit bureau reports at www.annualcreditreport.com. If you have been denied credit within the past 60 days, you are also entitled to a free credit report. Whomever supplies the bureau with the information (known as the “furnisher”) that triggered the credit denial will be named.
Let us show you how to stay up-to-date and how to be proactive about maintaining accurate credit reports and ratings.
“I’d like to improve my credit report/score”
“ I have a dispute with a merchant about a credit card purchase.”
Mistakes can be made at any point along the way in a credit card contact purchase. As a consumer, when you take the time to contact the credit card company about the merchant you feel made an error, you will feel more powerful about your ability to act responsibly for the benefit of your credit worthiness. You will need to provide several pieces of information for a successful dispute. You can begin correcting inaccurate information with this Sample Dispute Letter. We can give you additional support in completing your dispute – free of charge!