1) Obtain a free copy of your credit report
As a consumer, you are entitled to a free copy of your credit report from all 3 bureaus on a yearly basis through AnnualCreditReport.com. This is the only authorized government website from where to obtain free copies of your credit report and scores.
2) Educate yourselves on various aspects of Credit Reports and Scores
Credit reports and scores are packed with information and you need to learn how to review a report. You also need to educate yourself on how hard and soft inquiries affect your score. This is a service that Mayanah offers to all their clients as part of our coaching.
3) Check for Identity Errors
Identity errors are those that are related to your identity. Common errors are:
4) Check for Reporting Errors
5) Check for Balance Errors
These are errors with incorrect credit limits or balance amounts.
6) Take Steps to Fix Error
Ignoring any mistake in the credit report is catastrophic and you need to dispute it ASAP. The best option is to dispute it online.
You can learn more about online disputing at Lendedu.com.
Mayanah Financial Coaching encourages to review your credit report at least annually and fix any errors that might harm you in the future. However, we do not support borrowing to boost the credit score. We are against debt and we empower our clients to live a debt-free life. Contact us to learn more.