How to Improve Your Credit Overnight
Can You Improve Your Good Credit Overnight?
Absolutely.
Perhaps you've been told that you were
denied credit because of an insufficient credit file
or no credit file and you have accounts with creditors
that don't appear in your credit file. If so, just
ask the credit reporting agency to add this information
in future reports.
Your credit file may not always reflect
all your credit accounts. Although most national department
store and all-purpose bank credit card accounts will
be included in your file, not all creditors supply
information to credit bureaus: Some gasoline card
companies, local retailers, travel, entertainment,
and credit unions to name a few, are examples of the
creditors that often don't.
Many credit bureaus will add verifiable
accounts for a fee, although they are not required
to do so. However, be aware that if these creditors
do not report to the credit bureau on a regular basis,
the added items will not always be updated in your
file.
Here's an Example:
Suppose you had bought a car from a
dealer 5 years ago. And the cost for your car was
$12,000.00, which you have paid off in 2 years. If
you can show on your credit report the auto loan you've
paid off, that can dramatically change your credit
report. Therefore, what you can do is contact the
car dealership and ask that your account be reported.
Or you can request a copy of your auto loan payment
history to be mailed to you so you can mail it yourself
to the credit bureaus. It's also important to ask
yourself why a certain account was not reported on
your credit report.
Usually its because many small businesses
avoid reporting to credit bureaus because it cost
businesses money to report your payment history to
credit bureaus every month. To put it simply, every
business who wants to report their clients account
payment history will have to subscribe to these credit
bureaus and the subscription cost the business money.
Here is a sample Letter to Add Positive
Information to Your Credit Record
Date
Credit Bureau Name
Address
City, State Zip
To Whom It May Concern:
After receiving my recent credit report from your
company, I noted that my credit report does not include
information that I know is vital to providing a complete
picture of me as a credit using consumer. Therefore,
I request that you add the following account details
on my credit file.
Creditor:
Address:
Account Type:
Date Opened:
Credit Limit:
Current Balance: (If it's an open account)
If there is any fee for this service
or for any additional information you might need from
me, you can reach me at (your phone number). Thank
you in advance for your kind assistance.
Sincerely,
Your signature
Your Name
Address
Social Security Number
Date of Birth
About The Author
Jim Partridge is a staff writer writing
for http://www
.allcreditcarddirectory.com/ The website is dedicated
to providing alternative credit card options for people
to consider.
You have permission to publish this
article electronically or in print, in your Newsletter,
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