The Credit Bureau uses three different management companies to assess credit reports and scores. One of the companies is TransUnion. Through the TransUnion website, an individual can get a free copy of their credit report. However, this company also provided tips for improving credit scores. These tips are basic but important for anyone looking to improve their credit score.
The first tip for an individual looking to improve their credit is to assess their credit profile. This can be done by ordering all three free credit reports from the three companies with which the credit bureau works. These are TransUnion, Equifax, and Experian. An individual should check each report to make sure that all of the information is the same. An individual may also pay each of these three companies to send them their credit score. They can then crosscheck each of the scores against the other to ensure they are similar.
Once any errors have been identified, an individual should write a letter to each credit bureau to fix the errors. The credit bureaus have a set amount of time to fix any problems. Having an error free credit report is going to improve the overall credit score because all of the three credit bureaus will have similar information.
Improve Bad Habits
Another thing an individual should look at on their credit report is any flags or problems. Once those have been identified, it is up to the individual to repair their behavior in order to avoid such flags or problems in the future. This means paying bills on time and creating a plan to reduce debt balances. Creating a simple budget can help with this matter. While past flags cannot be removed right away, individuals that show a certain period of consistently flag free credit will begin to improve their credit score.
Check Credit Again
Once corrections have been requested, an individual should follow up after a few months by requesting their credit report again. They will be able to see if the corrections have been made. If they have not been made, the individual should resend a request to have the errors fixed. Also, if a person has improved their financial behaviors, they should begin to see an improvement in their overall credit score.
Finally, the Credit Bureau suggests signing up for a credit monitoring service. TransUnion offers one. What these services do is monitor an individual’s credit, and if there are any significant changes, then the individual is notified. These services can help an individual guard against fraud and let them know if their score is dropping. Also, because each individual’s credit is their own responsibility, having a credit monitoring service could make a person’s life slightly less complicated.
Each of the three companies used by the Credit Bureau, TansUnion, Equifax, and Experian are established to gather and assess data. From that data, they are able to create a credit report and score for each person. If a person finds a problem with their credit, these agencies will only fix the problem if they are notified. It is important for each individual to take control of their credit. Following these few tips will put a person on track to controlling their credit and improving their credit score.