|Posted by: Guest_rjsproperties Apr 3 2004, 04:09 PM|
I’ve checked into getting my credit rating and got my FICO score. Other than continuing to pay my bills on time what can I do to improve my score? After looking at the credit report, it looks as though the credit bureau “thinks” I owe two different mortgage companies a debt for my house. I refinanced last year, but I don’t think the credit bureau realizes this. What should I do to correct this (assuming this needs to be corrected) and how will it affect the FICO score? The credit bureau has my debt at almost $200,000. This can’t be.
Posted by: loanuniverse Apr 3 2004, 06:58 PM
Did you purchase the credit report directly from one of the three Bureaus?
If so, each one of them has their own procedures to solve any discrepancies. I know that when I ordered my report from Equifax a year ago, if I had something wrong in the report, I had the option to either request a correction or contest it.
There really isn’t a secret to improve credit score. Although the formula is secret there are known factors that improve it such as the percentage utilization of credit (They don’t want that percentage to be too high), the age and diversity of your credit history (older credits and different types like installment loans help), and of course not having past due payments helps the most.
Frankly, consumer credit is not my area, but I can point you in the direction of a great resource, they are known to be aggressive at improving credit scores:
That forum has a lot of information on personal credit matters.
Also for anybody reading this, there is another resource where you can get your free credit report from all three credit reporting agencies at Free Annual Credit Report