• What Impacts Your Credit Score

    ImpactYourCreditScoreBefore learning of the ways to credit repair Kentucky, you might want to learn of the factors affecting your score, as this is a very important aspect of being informed and on the right track before credit repairing. To start with, check out the following things you might not have been recognizing to be impacting your rating.

    Rebuilding Credit History Kentucky: What Factors Impact Your Rating?

    • Multiple unused credit card accounts: One thing that impacts your credit rating is how much credit is available, and this is one that lenders check before lending you money or approving your mortgage application.  To start rebuilding credit score, avoid having multiple unused credit card accounts.
    • Credit report mistakes: Speaking of factors affecting your credit rating, mistakes are actually a big part because they influence what data to reflect in your annual credit report. For instance, if someone applied for credit under your name without your knowledge, you need to get in touch with the creditor agency right away so that it will be investigated and removed from your record.
    • Being non-existent on electoral register: As it is used by lenders in verifying you are who you are, you should check if you were in the electoral register or not.
    • Late payments:  One major factor affecting your credit is making late payments for your personal loan, mortgage and electricity bills that usually stay on your file for about six years.
    • High existing debt: Financial and banking institutions may find it hard to lend you more because you are overstretched financially.
    • Multiple credit application at once: if you don’t intend to apply for credit and simply want to compare various rates, you have to find out which among those lenders can just report or record quotation search and not credit application search because the prior won’t negatively impact your credit standing.

    Improve Credit Report Kentucky

    To start rebuilding your score, you should request a copy of your report from the annualcreditreport.com or from any of the three credit bureaus, namely the Experian, TransUnion and Equifax.  Alternatively, you can request from all of them at once or pull a report from any one of them four times per year. 

    Once you’ve furnished a copy of the best credit reports, check for any omissions or errors and review them to see if there are no fraudulent accounts reported under your name.  And to help you entirely in repairing your credit just in case you found errors, you should find the best company to fix your credit so that you can start rebuilding your score

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