Repairing a poor credit score is hard work. It often takes years to do restore good credit and involves a combination of correcting credit reporting issues and establishing a history of making sound financial decisions. Now that you're seeing the fruits of these labors and have your credit back on track, what should you do to make sure you maintain a good credit score moving forward?
There are two important steps you should take once you've established a good credit rating:
- Pull your credit report on a regular basis
- Review your interest rates
You're entitled to receive 1 free credit report from each of the three major credit bureaus (Experian, Equifax, and TransUnion) once a year. That means you're allowed to get one free credit report every four months. Take advantage of these reports so that you can continually monitor your credit.
It's common for debts and accounts which have been settled to return to your credit report. If this happens, you'll need to provide the credit bureau with proof that you paid these debts in order to have them removed from your report.
Reviewing your interest rates is also an important step to take. If you opened accounts or took loans several years ago, you are most likely paying interest rates based on your credit rating before you repaired your poor credit score. With a better credit score, you may be entitled to lower interest rates on many loans and credit cards. By refinancing loans or adjusting your interest rates on credit cards, you can save money on the life of the debt.
If you need help with a credit reporting issue, Howard Silver can make sure your rights are protected. With more than 25 years of experience handling these cases, he can guide you through the process and help you along the path to maintaining good credit.
Please contact the Law Offices of Howard D. Silver today to schedule your free credit reporting consultation. Mr. Silver serves clients in Los Angeles, Ventura, Riverside, and San Bernardino counties, and throughout California.