Fix Credit Report – Repair Boost Score Ratings

Mike Singh asked:




1) Deleting errors and negative items

Its a well-known fact that deleting errors appearing on your credit report will raise your credit score. But, this is usually done through a bank or a mortgage company. When you apply for a loan and notice errors, ask the loan officer to to a rapid rescore. This strategy requires that you have all your papers in order. You have to provide written documentation such as a letter stating that the account on the report is not yours, or it was paid or any evidence that is related to the same. You will be able to improve your credit score while receiving better interest terms on the loan you are applying for.

Even if you don’t delete errors through a creditor, you can submit this documentation on your own to the credit bureau. The bureau will take about 30 days to validate your claims. You should get another credit report within 60 days of sending them the documentation to verify that the negative items have been deleted from your history.

2) Piggybacking

This is a great technique that I’ve used with success in the past. It boosts your credit score quickly and permanently. But, you need to a strong relationship based on trust with someone who has excellent credit and is willing to add you to their account. An example of this would be asking that person to add you on as an authorized user to his or her credit card. When this person adds you, you will inherit their credit history. This technique works best when you are added to the other person’s oldest credit account with a perfect payment history.

3) The Round robin strategy

This is a well-known technique for building credit. This is done through secured credit cards. To begin with you put up $1000-5000 and obtain a secured credit card. Then you take out a cash advance up to 65% of the card limit. Using this amount, you open another secured card. Once again, you take out a cash advance of up to 65% of your limit. Now, you get a third secured card. With the cash advance you take out on the third card, you open up a checking account. The account will be used to make regular monthly payments. In the beginning your credit score will take a small dip because of the multiple accounts being opened close to each other. But within 120 to 180 days your score will get a big boost. I used this along with a few 0% balance transfer offers to bump up my score significantly.

Ruben

XAgentgameX asked:

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Mike

julie asked:


My husband and I are trying to fix our credit so that in the future we can purchase a home, however, we notice that on his credit report there was an old account for a Mortgage Company on there, we no not own a home, that was the whole purpose of requesting our reports so that we can buy a home. It says the account was closed in 2009 most of the payments were late but it is now paid off. However is says it was opened in 1980. My husband was born in 1985. How can we have that removed? Do we have to call the mortgage company? Who do we need to deal with?

Warren

Maurice R asked:


Ok, I had a credit card once and i missed a few payments. HOWEVER, i paid it off. It still shows up on my credit report..how can i clean this up?

now when i apply for a card anywhere i get turned down. How do i fix this?

Larry