subject: Raise Your Credit Score By Adding Data To Your Credit Report [print this page] Consumers who regularly review their credit report are able to quickly address any inaccurate negative items that pop up through a formal dispute process and have them removed. However, many are either unaware, or don't take the time to add items to their report that puts them in a more favorable light. It's possible to build a better credit score simply by requesting that such positive items be added to your credit report.
There are three types of information you might want to have added to your credit history to build your score:
Explanation of Disputed or Incomplete Facts
If you dispute the completeness or accuracy of information in your credit file, credit reporting agencies are required to, at your request, include your explanatory statement with subsequent credit reports they send out. Your statement should be brief and include only extenuating circumstances - not just you couldn't afford your debts. Then, you can request the explanation be sent to prior recipients of your credit report - up to two years prior if it was for employment, otherwise six months. You may be charged a fee to have your explanation added to your file.
Adding Missing Information
If you have positive credit account histories, such as for a mortgage or auto loan, that are not included in your credit report, you can ask that they be added. Send the agency a written request, along with proof. While not required to add these accounts, most credit reporting agencies will comply, sometimes for a fee.
Another option is to go straight to your creditor and ask that they report the information directly to the credit reporting agencies. However, some creditors categorically refuse to do this as they only report to certain agencies or not at all, and won't change their standard business practices. But it's worth a try.
Signs of Stability
Any evidence you can add to your credit report that indicates your stability will further help your cause. Such information might include data related to employment and/or your residence. If you can show longevity in either of those areas and it's not reflected on your credit report, have that changed. Also, update any missing or inaccurate social security, phone, or birth date information while you're at it to avoid potential account mistakes.
When updating your credit report, make sure you contact all three credit bureaus to make any necessary changes. They all gather and report data somewhat differently so it's never consistent. It's hard to know ahead of time which credit bureau a potential lender uses, so you want to make sure your updated information is included no matter what.
At your request, you can get one free annual credit report from each of the three credit bureaus. Check again for any necessary changes and make them. Focus on any outdated or inaccurate data that could look bad. Repeating this process once a year can both help maintain your credit score and limit your potential risk of identity theft. While a somewhat cumbersome process, adding positive information to your credit report ensure you have the best credit score possible.
Raise Your Credit Score By Adding Data To Your Credit Report
