Applying for a loan, getting cash from a bank, or extending the limit on your credit card takes a little bit of work. In order to get banks or credit cards to give you money, you have to show the ability or means to pay it back. This can be done in a variety of ways, but the best and most convincing way is to improve your credit score. While there are several other ways to squeeze cash out of these institutions, this is your best bet and will yield the greatest results. So, how do you raise that credit score so you look financially savvy enough to get the money you want? Read our tips on how to improve that crucial number and get the cash you want.
1) Check Your Credit Report
Many people find mistakes on their credit reports. These discrepancies can be damaging your score and lowering your chances of loan, cash, or credit card approval from financial institutions. There is one way to get a legitimate credit report and that’s through the Federal Trade Commission. You are entitled to one free copy every 12 months under the Fair Credit Reporting Act. You can obtain them through their website or over the phone. An individual report is generated from the three main credit bureaus – Equifax, Experian, and TransUnion. The results are three separate reports. Go through each report and make sure all your personal information is correct and that all your account and payment information is accurately reported. If there is a mistake, you should open a dispute with that company or hire a credit counselor to help you.