If you want to keep your credit score high there are some tips you can follow to help achieve that goal starting by getting a free credit report from all the major credit reporting agencies. There are three major credit reporting agencies, you should write to them and request a copy of your credit report which they must provide to you free of charge. When you receive the credit report you need to make sure the contact particulars and details within this report are accurate. If there are mistakes with your personal details or anything else within the report then you must inform the credit reporting agency.
By law, the credit reporting agency must correct any mistakes that are contained within your report but you need to inform them in writing. When you have drafted the letter, be sure to highlight what the problem is, what it should be and provide evidence to substantiate your claim. Send the letter via registered mail so the credit reporting agency cannot say “they never received” the letter. Keep the receipt given from the post office so you have proof for future reference if it is needed.
Another way you can keep your credit score high is by not using the entire credit that is available to you. This is commonly referred to as credit utilization and if you are using less than 30% of your available credit limit then lenders will consider you less of a credit risk than an individual who is only making the minimum payments on their obligations each month.
Try to limit the total number of times you apply for new credit in a year. This has a negative effect on your credit score so only shop around for credit related products if/when you have a legitimate need otherwise you could be bringing down your credit score needlessly.Top