Steps Needed to Improve Your Credit
Step 1
Step 1 is probably the simplest step of them all, but it all starts with the first step. The details involved in this step is below, please continue on and if for any reason along the way you have a question, problem or concern - Contact Us. We are happy to help out anyway we can.
Details:
New Regulations by the FTC - Effective 04/02/2010: THIS NOTICE IS REQUIRED BY LAW. Read more at FTC.gov. You have the right to a free credit report from AnnualCreditReport.com or 877-322-8228, the ONLY authorized source under federal law.
First and foremost, find out where you stand. There are numerous websites which gives you instant online access to your credit report and score, but which one do you choose?
Honestly, any of them will work especially when you are just starting out. There are plenty of sites that offer "free 3-in-1 credit report with score," which is actually a free trial period. This is an excellent and cheap (as long as you cancel within the trial period) way of getting your credit report. You may find their services and products beneficial and may want to continue with the service, especially when some offer score updates and credit alerts. If you need or want to get a 'free trial' credit report(s), we have several listed in our Credit Reports page.
It is important to note, by law, you are able to obtain at least 1 credit report from each of the 3 major credit bureaus for free every 12 months. You can go to: https://www.annualcreditreport.com/cra/index.jsp to receive the 3 credit reports you are entitled to once every 12 months.
The key is to make sure you check reports from the 3 major credit bureaus which are:
Equifax - You can go to their site by clicking below and sign up for a 3-in-1 credit report + Fico score (Fico - the score most lenders use) or a host of other products offered by equifax.
Transunion - You can click below and try out their credit monitoring free for 30 days:
Experian - They offer a variety of products and services as well. FreeCreditReport.com is a popular site and they are part of Experian. You can get your free trial from FreeCreditReport.com and see your experian report/score here:
It is important to note that MyFico.com offers real FICO Scores/Reports (the score most lenders use). Most other sites offer variations of the FICO scoring system. For example, you may have heard of a Vantage Score, Plus Score, or FAKO Score most of the different scoring systems will get you in the same ball park of your FICO score, but MyFICO.com gives you your exact FICO score. MyFICO.com does currently offer a free trial period for score watch:
30-Day Free Trial of Score Watch
Also, Experian has their own scoring system (Plus Score) so MyFICO.com does not offer a report/fico score with Experian. We would suggest you get your Experian Credit Report and PLUS Score, so you know where you stand and can see how much your Plus Score increased as you work on improving your credit.
Many people forget to check the 4th major credit bureau:
Innovis
Innovis is somewhat looked over, and to be honest, they aren't as popular as the first three mentioned above. You shouldn't look them over though, there could be errors in that report and not in any other report. Innovis doesn't offer instant online access; they require you to call them to request your report by mail, and it usually takes about 5 business days to receive it. Once you do receive it, they will enclose a username and password to view your report or dispute information online.
OK, once you received all 4 reports, you are finished Step 1. Step 2 will go in great detail about reading your report and understanding the information in it. Step 2 will guide you through the steps you need to take if you find an error or errors in any report. You are 1 step closer and even though there wasn't much effort or time involved with Step 1, you did it and you took a step in the right direction. Congratulations! No matter what's in your report, or how bad it is, just relax, we'll get you through this.
Click Step 2 to move on to the next step.