Improving Your Credit Score

There are three main credit reporting bureaus in America, and TransUnion is one of them (the others are Equifax and Experian). Each one of these will supply your credit information to potential lenders, for a price. Each one’s methods of gathering information is a little different, so it’s easy for your score to vary. In this article, you will learn how to raise your credit score with Transunion- and you’ll be that much closer to getting out of credit card debt the easy way.

There are two main ways that you can boost your TransUnion rating. First, you can have old negative entries deleted or corrected if they are inaccurate, and secondly, you can start rebuilding a credit history by taking out a gas or department store card. Take a look at your file, and dispute any expired or inaccurate entries. According to the Fair Credit Reporting Act, the credit bureau is required to remove these from your report.

The next part, rebuilding your credit history, may prove a little harder. A lot of people run into trouble here because they are often denied when they ask for new credit. However, this obstacle can be overcome by using a secured credit card (to get one of these, your credit score is not a factor). Instead, the card issuer asks for a deposit, and they issue you a card with a credit limit equal to that amount. Most of these secured cards have a conversion option which allows you to achieve unsecured status after a period of timely payments. Another way to help rebuild your credit is to ask a member of your household to add you to one of their credit accounts that has a good payment history.

Eventually, your good information will begin to crop up on all three of your credit reports, not just your TransUnion one. It will give your credit limit a big lift-but you’ll have to be patient, because it can take months to see a difference in your score. For more credit-saving tips and the latest credit card news, there are plenty of good resources online.