Finance & Business Guides

Your credit score could be better if you find the errors in reporting or if you can find legal way to improve the report. There are at least three things you can do before giving up your dream to get new car by obtaining nee credit.

Rapid Rescore and Deleting Negative Error
When you find errors on your credit report in the process of applying credit for home, you have an option to ask the credit officer to do Rapid Rescore. The process will need confirmation letters from lender to validate your request for correction. It will charge you for certain fee. You can also do the appeal by yourself. You need to write a dispute letter with all the proof documents and get a fast result on rescoring, or if you don’t attach the proof, the process will take reasonable time about 30 days.

Pay on Time
This is could be the most popular suggestion to fix credit. Paying late will cost you extra late fees and financing charge. If you think the charges are not material for you, then think in long term perspective. The late payment is a clear instant way to damage your credit score.

Piggybacking Credit card
Do you believe that you can increase your credit score by ’borrowing’ someone else credit score? This is what you can do with piggybacking. When someone with a good credit history in his long aged credit card add you as cardholder in the supplement card holder slots, his credit history will appear in you credit report. The better your sponsor in piggybacking, the more your credit will improve.

How can someone trust you so much to hold an account in his credit card? He could give his trust to you without giving you the card to spend dollars from his credit limit. All you need is to be registered in his cardholder’s list to gain better credit report, so it is not your interest to have the card physically and spend it. You can ask help from someone close to you, or simply pay certain fee to a perfect stranger whose card is listed in piggybacking service. You don’t have to wear printed t-shirts with a big font of “TRUST ME” to get piggybacking credit!

This post written by Phillip Thow