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Effective management of credit report to maintain good scores

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					             Effective management of credit report to maintain good scores

Your credit report is the sole basis for lenders to approve you loans or credits. It is an essential
financial record that holds great significance when used as a tool to boost your financial
capability. Credit checking of credit reports regularly is recommended to correct any
inaccuracies and to check any signs of fraud or theft.

Grab free credit reports from the bureaus

Credit scores and credit statements are very important since they determine your overall
financial status. It is required and recommended that they should be correct and free of any
errors. Every individual can obtain a free credit report from each of the three main credit
bureaus every year. Make sure obtain one to be able to keep track of your credit.

Importance of checking your credit report

Your credit file has details of your credit history from each of your credit account. It is good to
investigate and search for any inaccurate information. Errors in the statements may ruin your
credit score. Moreover, it is a good way to check if you have fallen prey to thieves and if your
account has been misused.

Check for these details on your credit report

         Flaws in your personal information such as your name, SSN, address, contact
          number, etc.

         Inaccurate or outdated account information. You must check for recently closed
          accounts or changed credit limits.

         Wrong delinquencies or missed payments. One must check payments through bank
          statements.

         Missed accounts. You should check why the accounts were not listed.

         Doubling of accounts. There are probabilities that the same account is listed twice.
          This can degrade your credit scores.

         Unknown Accounts. It is necessary to review accounts listed under your name. Some
          accounts may not be made by you (usually by another person with a similar name or
          SSN).

         Negative issues over seven years old. In most cases, your credit statement’s negative
          information has an age limit. If they are still listed in your report even after their age
          limit, contact the credit bureau to remove the items.

Credit reports are now the basis of lenders to judge the financial capability of an individual.

				
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Description: Your credit report is the sole basis for lenders to approve you loans or credits. It is an essential financial record that holds great significance when used as a tool to boost your financial capability.