A woman in a blue top is thinking about installment loans

How are 80% of Americans Credit Scores at Risk?

Milad Hassibi June 28, 2018

Jessika G. of Orlando had big plans for summer. After all, she just graduated from college and was about to take off to start a new job across the country. Before she left, she just needed to find reliable transportation.

After shopping for a few weeks, she finally found a car she loved, and so she applied for an auto loan. Then the unthinkable happened. She received a rejection letter from her lender, but how could that be?

Soon, Jessika found out that there was a foreclosure on her credit report, even though she never owned a home.

Finding inconsistencies in your credit report and score is more common than you think. Independent studies have shown that nearly 80% of Americans have an error in their credit report. An error in your credit report could mean getting denied for an auto loan or even getting denied a job position.

If you haven’t been checking your credit score and report lately, here’s how you can start:

Get Your Score and Report

Your first step should be to see if your credit report is one of the hundreds of millions of reports that have an error. An error in your credit report could lower your credit score by over 150 points.

You can get access to your credit score and report from Experian, along with a series of tools that can help you improve your credit.

Monitoring your credit should be the first step in checking for errors and inconsistencies that could spell financial disaster.

Checking your credit score and report does not affect your credit in any way, so be sure to check your score on a weekly basis at minimum.

Get Errors Erased

If you do find an error on your credit report, removing that error should be your #1 priority. This is always done by contacting the three major credit bureaus that produce your credit score and report.

Sadly, many consumers find themselves waiting for months to hear back from the bureaus. CrediReady can take the hassle out of calling and contacting the credit bureaus for you, getting your credit score back on track quickly with minimal downtime.

Using a credit repair service is beneficial for many reasons. First, it can save you hundreds of hours in time waiting on the phone for an operator or waiting for a response to a letter.

A credit repair service can also professionally assist you when it comes to dealing with the 3 major bureaus. When it comes to repairing something like your credit score, we recommend you work with professionals.

Monitor Your Score

Once your credit report errors have been fixed and your score is back to normal, it’s important to stay on top of your credit score. Be sure to check your credit score and report often, as it will not hurt your credit score.

By taking the time to check your credit regularly, you can save yourself from future headaches.

Final Note

All in all, your credit report and score are things that need to be monitored consistently. Having a strong credit score with a healthy credit report can help you qualify for the apartment of your dreams or get you that auto loan you’ve been looking for. Take advantage of these offers today to secure your financial future!

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