Tips For Your Credit History Search That'll Save Time

When conducting a credit history search to gain information about your own credit score, there are a number of actions you can take to save yourself time and effort in the process. In many cases, your credit history can be the key to major life decisions that are made on your behalf, including employment, home purchase, car purchases and even car and life insurance.

Tip #1 – Use a 3-in-1 Credit Report Service

There are numerous services online today that provide access to all three credit agency credit history reports in one easy to use statement. In many cases, these services require purchasing their credit monitoring services, which notify members of any changes to their credit report and any attempts to open a credit account or access their credit report. Using a credit report service can make checking your credit history on a regular basis an easy and simple process, particularly once you have reviewed your initial credit report statement, you will be notified of any changes to your credit report.

Tip #2 – Keep Track of Your Current Open Accounts

Since most credit reports contain numerous errors and incorrect information, knowing what accounts you actually have open can be extremely helpful as you review your credit history. Not only will your open accounts be listed, but information is usually provided about the credit limit with each of these accounts, the high balance over the past 12 months and payment history. Payment history may include information about how many times a late payment has been made or how late payments have been (60 days, 90 days, etc).

Tip #3 – Be Prepared for Errors

If you regularly review your credit history, then it should be relatively easy to compare your last credit history report to the current one. Keep in mind that you are entitled to one free credit report every year or if you have been denied employment or credit because of information contained on a credit report. If you utilize the services of a credit reporting monitoring company, then it should be very easy to review your regular statement.

However, if you do not use a credit monitoring service, then expect to see errors on your credit history report. If you already have form letters prepared to challenge errors, then you can save yourself time by simply filling in the blanks about the erroneous or incorrect information and providing copies of any backup information that you might have available (cancelled checks proving payment, settlement statements, etc).

Tip #4 – Keep Financial Records Organized

While it can seem tedious and even inefficient to keep copies of your financial records, they can definitely come in handy if you need to challenge anything that is incorrectly reported on your credit history. If you are well organized, you can immediately go to the correct information and include copies that back up your allegations about why the information on your report is incorrect. Even if you use financial software to keep track of payments to credit accounts, you will probably still need to be able to provide copies of cancelled checks or other proof of financial events in order for the information to be quickly corrected and reflected on your credit history.

Summary

Evaluating your own credit history search information can become a very simple and easy process if you are organized, utilize the services of credit monitoring companies and regularly review your credit history report.



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