Lesser known strategies to fix your credit history

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Building Credit History » Lesser known strategies to fix your credit history

Lesser known strategies to fix your credit history


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.

Fixing credit history is not very difficult if you have the commitment to do it and also the presence of mind to use some of the strategies that are often forgotten by credit card customers. There are quite a few such tips and tricks that you can follow in order to improve your credit history.

Goodwill adjustment

A lender, with whom you have a long standing history, can be requested in writing to forgive that one odd late payment that you have made in the last year or so. This goodwill adjustment, which results in your missed payment not being reported to the credit bureau will help you rack up a few more points on your credit score, especially when getting an excellent credit rating is very difficult and important too.

Dispute negatives

It is quite possible that you missed a bill payment because you were in a long standing dispute with the credit card company over some fraud transactions or because your phone bill came out to be a lot more than what you had anticipated due to error prone billing. While you wait to clear the dispute, your credit rating would have suffered as the credit bureaus will only look at it as a delay in bill payment. However, if you have the time and patience for it, you can pull out these negatives and dispute them so that your credit history improves and you score some more points on the FICO score. You can do it just as well as many consultancy firms claim they will. But spending money on them is not really advisable.

Try to correct credit reporting errors

A lot of times, you might wonder why your credit score is less, even though you have been careful and making all the bill payments at the right time. Well, it might not always be your fault that your credit rating is so low. On the contrary it could be a mistake from the credit reporting store or lender. The things which often are error prone dragging down your credit score include late payments, charge-offs and negative information which isn't really yours. Sometimes credit limits too are reported less than what they actually are. Outdated information about your address or your name not spelled properly can also lead to getting negative points or losing out on points. Therefore studying your credit report in detail will help you improve your credit score.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Top 5 Cards for Travel from Our Partners: Summer 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Summer 2018 – Expert’s Choice

Posted: February 12, 2018

The sun shines more and more each day, flowers are in bloom and you already feel how hot it is getting - summer is here. Summer holidays are almost here, and you are in need of dire preparation. You can lift in spirits and let CreditLand ... Continue reading
Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Posted: February 10, 2018

If you're trying to find the perfect rewards credit card, you might feel like you're drowning in options. There are just so many out there, and many of them look similar. This can make it tough to decide on a card. One thing people often ... Continue reading
Price Protection: Credit Cards That Will Refund a Price Drop

Price Protection: Credit Cards That Will Refund a Price Drop

Posted: February 8, 2018

Those who often find themselves buying stuff and then discovering that they could pay less for the same item they've just bought, will appreciate this credit card benefit – price protection. This is the least known and the most neglected ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!