How Do You Fix Credit For Free?
Lenders use your credit score as one of the major factors for determining if you are a creditworthy borrower and, if so, how much interest they should charge to cover the risk that you will default on the loan. The FICO score is the most widely used score and is calculated with five factors: your payment history, how much money you owe versus how much credit you have available, how long you’ve had credit, how much credit you’ve applied for recently, and the types of credit you’ve had experience using. If you have bad credit, you can fix it because your score is continually updating with new information. Step 1 Order your free annual credit report from each of the three major credit bureaus: TransUnion, Experian and Equifax. You can order all three at once by going to AnnualCreditReport.com. (See Resources.) Step 2 Check your credit report for errors. If you find any incorrect information, such as accounts that are not yours or information about late payments that is incorrect, gather d
