12018-04-21T17:21:38+00:00Mudassar Ali70d726f229b5bae66700c4df954b0f58dc26770c361A credit report is a depiction of how you have been using the credit in your company accounts and how well you have been handling the loans along with the overall financesplain2018-04-21T17:21:38+00:00Mudassar Ali70d726f229b5bae66700c4df954b0f58dc26770cA credit report is a depiction of how you have been using the credit in your company accounts and how well you have been handling the loans along with the overall finances. It helps set your reputation in the market and makes it possible for you to seek out financial help when the times call. However, if you for some reason end up with a bad credit score then it doesn’t necessarily mean the end of the world for you.
There are ways through which you can not only improve your credit report but also make sure that your score is nothing but exemplary.
Timely payment Let us start with the obvious. Every bill payment that you delay brings your score down and vise versa. So, starting today, mark your calendars and make it a point to never get late for your bills again.
Never throw away the documents This has to be a rule that you need to follow religiously for all financial activities. With the credit reports, you always need to be prepared to see a lot of errors in the final versions. Having documents of all your transactions, bank accounts, receipts, and checks that were canceled will allow you to raise disputes in such cases. Having a reliable company to work on your report will save you a lot of hassle. Find out more about a reliable company that can draft up a foolproof report free from errors and issues.
Remove negative items When you get the report, start by thoroughly working and reviewing each one of its sections. Most of the credit reporting agencies give you the option to have the disputed items removed from the report within a pre-decided term. So, in case you find an error that is bringing your score down, take it up with them and have it removed on a priority basis. This is where having reference documents will help you build your case.
Get multiple reports Did you know that most of the creditors take an average of your cumulative credit score? So, get the report done by multiple agencies and have them all presented to the creditors when applying for financial assistance.
Request for a raise in limit There is a section in the report which covers every activity on your company accounts very minutely. It also states in detail the limitations of your accounts and how prompt you have been in the past years to clear out the dues. A delay will bring up a negative result and thus should be avoided. One way to do that would be to request your credit card company for raise the limit. However, do not go about closing older accounts as the age of the accounts you hold shows up on your report too with the rule being that the older the account, the better it is for you.
With these few tips in your arsenal, you can now get started to improve that credit score and get a more favourable outcome for your next report.