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How you can take better care of your credit history

By Andy Snyder
Published: Saturday, September 17th, 2011

Caring for your credit record requires the same care you provide your plants and pets. You have to constantly check it for “bugs” and provide it with large doses of healthy credit. The need to take care of your credit history is so essential that some people even require the help of a professional to do it for them. With a healthy credit record, people know that they can receive numerous perks and advantages in their financial life.

A good credit record is the prerequisite to lower Annual Percentage Rates in credit cards, loans, insurance plans etc. It also creates a good record that will open opportunities for you in the future, especially when you apply for job. It can also help you put up a good name when you engage in business transactions. Credit records actually tell a lot about persons; while a good history provides numerous advantages, a bad one can have devastating effects.

A person with a bad credit record is most likely to encounter problems especially when dealing with house, auto loans and insurance. They will even be less likely to get approved for credit cards and will have a high APR because they will be offered with different payment plans and packages. It will really be hard to bounce back from that state, especially with increasing cases of identity fraud and other theft crimes. Debts and delayed payments can also leave a very bad mark on one’s credit report. By now, you should be real careful about taking good care of your credit record because if you take care of it, it will take good care of you, too.

That’s why you should know the importance of filing for a correction reports when you see errors in your credit history. At the same time, you should also know what to look for in that piece of paper. Credit bureaus are obliged by the law to give you a free credit report each year, you should use that to your advantage. Make sure you cross reference it with your bills, or your expenditure list, if you have one.

Getting your credit report is not the end of your credit record problems but this is where you’ll start in creating a good credit name for yourself. You must be very detailed and organized as you must look for any errors and other irregularities in the report. There are a lot of errors printed there by the credit bureau personnel, and unfortunately, there are not liable for not double checking it. Hence, it is essential that you do it yourself. Aside from erroneous reports, there is also the consistent threat of identity fraud, so you have to pay good attention to the details. Once you pinpoint the errors, it is to important to file a dispute immediately. Keep in mind, however, that if you plan to do this, then you have to be prepared for the long haul. This is a time consuming process and when done incorrectly, it may adversely affect your credit record. Hence, you need to know the exact steps you need to take when you want to get your credit history corrected.

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