When banks or lenders see a credit report full of black records, they immediately see you as a risk. They would think that you won’t be able to pay them in time if you are requesting for a loan. Either that or they will milk you with your money through high interest rates or a very huge down payment. What you want to do is keep your credit report clean

1. Keep your credit report clean
When banks or lenders see a credit report full of black records, they immediately see you as a
risk. They would think that you won’t be able to pay them in time if you are requesting for a loan.
Either that or they will milk you with your money through high interest rates or a very huge down
payment. What you want to do is keep your credit report clean. Having a good report can help
you save a lot of money and time. It is less of a hassle too.
Here are a few tips on how you can keep it squeaky clean.
The first thing you have to do is check your credit report. It’ll be hard to fix something if
you don’t know where you stand, right? Get the latest copy of your report. You are
actually entitled to one credit report free from the 3 agencies every year.
Look for errors or false records. This rarely happens, but it’s still inevitable, so it’s best to
check every detail. Let your agencies know about the errors (if there are any)
immediately. Mistakes in your report can cause you loan rejections and bad transactions
that’s why you can’t just let them pass. You can file a dispute online, mail or through the
phone. You just have to include your basic info, like you name, address, number,
reason/s for filing the dispute. Just be brief but concise with your letter. It takes time to fix
errors on your report so you have to act quick about to get them fixed right away.
Finish off your debts. It’d be nice to see your report debt-free or to a minimum. But if you
still have debts, try to pay more than what is required. It will help you finish off your debt
faster, plus you’ll be paying a lower interest rate of what’s left of your balance
Pay your bills on time and regularly. This is the easiest way to keep your report clean. At
the same, this is the fastest way to hurt it. Paying on time can get your credit rating up
and can put you on the positive side. Lenders will see you as financially responsible if
you pay your bills on time. Not paying on time can leave marks on your report that will
last for 7-10 years so you better prevent that from happening.
These all seems easy but it really does require some effort. There are a lot of benefits in having
a good credit record. Follow these tips and you’ll have a cleaner credit report in no time.