The Do's [and Don'ts] of Credit Score Repair

If you have a less-than-ideal credit score, there are a few steps you can take [and ones you should avoid] to help improve your score.

Check our our list of Do's and Don'ts for Credit Repair:

Do: Determine your actual credit score
If a recent credit application of yours has been denied, find out why. Each of the three major credit reporting agencies are required to provide you with a complimentary copy of your credit report once a year, upon request. To order yours, visit annualcreditreport.com. You are also entitled to a copy if an adverse action like this happens [as long as you request it within 60 days of the notice].

Don’t: Expect quick fixes
There is no “quick fix” for creditworthiness. If a credit repair company promises to increase your score by 100 points in less than a month, don’t believe it. There are legitimate credit repair companies, but there’s nothing they can do for you that you can’t do on your own.

Do: Review your report and dispute errors If you spot incorrect information on your credit report, dispute it in writing. Clearly identify every item you are disputing and the reasoning. Include copies of documents that support your stance and ask that the errors be corrected. Send it by certified mail and keep a personal copy of your entire letter for your own records. You’ll also want to dispute the charge with your actual creditor.

Don’t: Expect to see improvement immediately
It may take upward of 30 days or more for your account to be updated and your score to improve.

Do: Take steps toward fixing your credit
Once you’ve determined that your credit report is accurate, take a careful look at which habits are generating the unfavorable score.