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I'm working on cleaning up some items on my report that are incorrect, and I'd like to check my new scores, but I'm afraid each time I do that, my score will go down. I had student loans that I'm told were being removed...but when I had my mortgage guy pull my credit again, they weren't gone, and him checking dinged my #. Is there any way to monitor my progress without affecting my score? I'd like to be confident that they have improved before applying for things again. Ideas?

Posted: Thu Jun 01, 2006 3:55 pm Subject:

Read this article on how to improve your credit scores. Inaccurate negative information reduces the scores largely. You must get it fixed by the bureaus. Pull a copy of your credit report from the three bureaus and compare it thoroughly. You will be able to locate the possible errors.

Highlight the items that are inaccurately placed in your file. Dispute the item with the CRA and request for results of the investigation. The item will be removed from your file if your dispute is correct or the CRA must give their reasons for keeping it.

Your scores won't go down when you dispute an item. You are trying to get the updated credit history so that your file puts a favorable standing in front of the new lenders. Read this informative book on improving credit scores.

Guest · Posted: Thu Jun 01, 2006 4:08 pm Subject:

Thanks! That's very helpful. This may sound crazy, but how do I go about getting my score from the bureaus? Do they have websites?

Posted: Thu Jun 01, 2006 4:31 pm Subject:

equifax, experian, and transunion all three have websites where you can purchase your score.

Posted: Thu Jun 01, 2006 4:55 pm Subject:

http://www.experian.com/
http://www.equifax.com/
http://www.transunion.com/index.jsp

Posted: Sat Jun 03, 2006 8:33 am Subject:

When you pull your credit reports it will not affect your scores. If you are buying something, try to get your credit pulled all within a 14 day period this will only count as one inquiry.

Posted: Tue Jun 06, 2006 1:40 pm Subject:

I heard that whenever you pull your credit score, your credit score gets affected? is this true? I talked to a mortgage person and she told me we should try to pull the scores as little as possible because each time it's pulled, the score will go down a little. And another thing I was told just as an FYI, if you have any credit cards and such that are open but are not using, do not close these cards...I hear the more cards you close, the more bad it looks in your credit report and your score actually goes down as well. It's better to keep it open and active without use rather than closing and lowering your score.

Posted: Tue Jun 06, 2006 4:17 pm Subject:

Potential inquires by credit companies or the mortgage companies hurt the credit scoring module. You will have to figure out the information in your credit report that hurts your score at the maximum. You will probably find this information in the risk factor statement. 5 risk factor statements can affect your scores.

The credit scoring formula is based on the following factors. The info in your credit file puts a direct impact in your scoring system.

You should have a good payment record that can boost up your scores.
Try to have minimum outstanding debt. keep the balance lower than 50 percent of your credit limit. Aim to have your balance lower than 30 percent of the total credit.
Check out all the inquiries in your credit file. Some inquires exist without a legitimate purpose. When a lender or a business checks your credit, it dings your credit scores slightly. Make sure that this inquiry has a genuine purpose.
Different types of active credit and loan accounts with a good history give a healthy credit profile.

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