You know wht's the most effective way to repair your credit? Clean you credit report!
Credit bureaus are well known to make many mistakes when recording your payment history and other important financial information.
That's why, before you lodge a new loan application, ask all three credit bureaus (Experian, Equifax and TransUnion), for a copy of your current report. Check accuracy of each of them. If mistakes are found, advise the bureau concerned in writing, requesting corrections.
You can't overestimate the importance that raising your credit score say, from 740 to 755 points. On a loan of $100,000 it may mean a saving of $1,470 in interest repayments in a year. In some cases, your application for a credit will be refused because your score is a few points lower than the benchmark the lender uses.
Hopefully now, you see that checking your records with credit bureaus, will pay you handsomely. In saved money and in good standing in the financial community.
