How to Quickly Improve Your Credit Score

Ab good credit score can mean the difference between getting approved for a home loan, automobile mortgage, insurance etc., it also determine the amount of interest as well as the payment period on goods and services bought on installment. As of the fourth quarter of 2011 the national average credit score is 692. If you happen to have a credit score below the national average then it is about time you seriously consider repairing your credit score. If you happen to be above the national average, do not rejoice just yet. This is because unless you have a credit score above 760 then you still have a long way to go credit worthiness wise.

Question, can you improve your credit score? The answer is yes. Question, is it possible to quickly improve your credit score. The answer is still yes, to a certain extent. The fastest way to do so is to verbally dispute any erroneous information in the credit report. Here is how:

1. First you have to get a copy of your credit reports. If you have them, well and good but make sure they are not more than 6 months old. The best thing to do is get a free copy;
2. Second, be aware that you need at least three credit reports. The best reports are the one’s provided by Experian, TransUnion and Equifax;
3. Carefully read thru each credit report and highlight items or outstanding debts that you are not familiar with. An important tip is to look at the place, location, time and date of purchase. Any purchase that seems unfamiliar, highlight it;
4. Check the purchases made that seem unfamiliar; it is best to cross reference this with your bank statement, credit card statement, receipts, etc;
5. If you are sure that some purchases or debts reported s owed is not accurate as to amount, due date and installment plan then call the erring credit bureau. The number is located on the credit report. Ask them to explain the information. If you are still not satisfied with the explanation ask to have the entry removed unless proper documentation is shown that you in fact owe that particular debt. Do not forget to ask the name and identification number of the person you talked to, and if possible you can even have the conversation recorded but with the consent of the other party. Ask for a specific time frame to have the issue resolved and then call back on that date. Any resolution favorable or not should be in writing.

Can I quickly improve my credit score? Yes you can, especially if there are a lot of erroneous entries on your credit report. However a word to the wise, before answering the question, is it possible to quickly improve your credit score, in the affirmative make sure to explain that doing so is only possible with proper research, careful scrutiny and effective communication skills.