Credit Report Tips

We posted Ponzi's Credit Report Tips the other day, and they seemed to go over pretty well (based on the Free Credit Report entry)…

1. There are three credit agencies (Equifax, Experian, and TransUnion), and you can get one free report from each, per year. Only pull from one bureau every three months – and you can check up on your account regularly without having to pay for the yearly fee most agencies want to charge to “watch” your accounts.
2. Your FICO score won't be included on these reports, and since that's how lenders view you – you should go ahead and spring for that. Or, if you have applied for a loan (from any lender) and they pulled your credit report, you can request the score for free. There are three scores, and most lenders usually take the middle score. Ask your agent what each of them are for your own records. Since that's basically how you're “graded,” you should know what it is and how to increase it (or keep it as it is).
3. If something shows up on your report and you don't know what it is, dispute it. You can do that online or through the mail. Be advised to do it in writing – nothing gets done on the phone, and you don't have recourse other than your recorded notes, times, and dates. “In writing” is mandatory if you want to get it done quickly and make sure it's followed up on by the agency. What ever you dispute with one agency, go ahead and submit the same email (or letter) to all three. That way, you don't end up doing the same letter/email three times. After 2 or 3 months, follow up with the agency and make sure it's off your record or paid.

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