A strong credit score is often the key to securing a large loan or purchase. There are a number of ways to build strong credit, but keeping your credit in good standing is equally important. Erasing and preventing errors on your credit score can be a determining factor in securing a substantial purchase, and there are a number of ways to make that happen.
Check your history often
Checking your score often, at least twice a year. Leaving your credit score unchecked for long periods of time can make it difficult to keep track of your older purchases or spot inaccuracies on the report. There is often a statute of limitations in many instances of fraud, and many creditors will not investigate a claim on an error more than a year old. Checking your rating online regularly reduces this risk, make sure to visit AnnualCreditReport.com to do this, as it is the only free, official site.
Make sure your contact information is up to date
If you move or change addresses, always contact your credit agency or debtors to provide them with your new address. Otherwise, your bills will continue to be sent to your old address, which may result in you forgetting to pay them. The interest on the bills will increase and can ultimately be sold to a collection agency, damaging your credit score. Never provide a fake address or phone number on a bill. It may save you from getting the occasional phone call or piece of junk mail, but it can also keep you unaware of potential debt.
Get and keep receipts for payments made
Errors can occur even when you have paid your bills on time and done everything correctly. Getting and keeping a paper or electronic receipt for all of your completed payments ensures that you will be able to prove any discrepancy or error. Even keeping receipts for small loans and payday advances can help to avoid disputes later on.
File a police report with your local police department
In the event of fraud or identity theft, alert you local authorities and file a report as soon as possible. This alerts your creditors that your claim is not a lie and makes reimbursement all the more possible. Provide as much documentation and evidence as possible to prove the validity of your claim.
Keep a record of all correspondence between the various different agencies you deal
When dealing with multiple agencies, you will often have to provide multiple accounts, documents, and evidence of the same claim. Keep a log of all your conversations to back up your claims.