Notice: Undefined index: articledetail in /home/utils/securefiles/securecode/utl_article.cls.php on line 649
How to Build a Credit Rating, Part 1 |
College Loan Consolidation, Federal Loan Consolidation, Private Loan Consolidation, Student Loan Consolidation

America's Top Student Loan Provider

How to Build a Credit Rating, Part 1
To improve your credit standing, you must first know how the credit reporting system works. The Big Three credit-reporting agencies are Equifax, Experian, and TransUnion. These are the giants of the credit-reporting world, although there are actually hundreds of credit bureaus out there.

The old, conventional wisdom was that a big part of improving your credit was amassing new debt (i.e., getting a credit card, mortgage, or auto loan)and then paying those bills on time. Nowadays, we recognize that there are a number of other strategies you can utilize to bolster your credit record, without having to go into debt to do so.

Make Sure Your Credit Report Is Accurate

Begin by getting your credit report from one of the credit-reporting agencies. Even better, you can get both your credit report and FICO credit score from Fair Isaac, creator of the FICO credit scores that are used by most lenders in this country.

The amount of data that they collect on the average consumer is mind-boggling: everything about any student loans you've ever had, information about where you've been employed, listings about your current or previous addresses, data about mortgages, credit cards, or auto loans you've taken out, and so on. Now what do you think would happen if one of these Big Three agencies had some erroneous information about you? Needless to say, it could create a nightmare for you. Not only a paperwork nightmare, not only a financial nightmare, but often times, consumers have to put in a lot of work and time to fix some errors in their credits report.

Unfortunately, mistakes of all kinds occur in credit reports all too often. The Consumer Federation of America and a number of other consumer groups estimate that 70% of all credit reports have mistakes in them. If you find that your credit report contains errors, it definitely behooves you to fix those mistakes as soon as possible. This is one way in which you improve your credit rating without taking on new debt.

Examine the report for errors. Let's say you find that there is an error in one or more of them. It may be something like an account listed that is not yours, or a debt that shows up belonging to John James Sr., and you are John James Jr., or maybe your name is spelled wrong, your address is not listed, or your employer is omitted. All of these errors or omissions are very important when it comes to your credit file.


Article Title : How to Build a Credit Rating, Part 1
Comments :
Thanks for sharing this post with us. It's really an amazing post. Keep pos
ting the good work in future too.

Posted By : molly mena


Related articles
• How To Fully Understand Student Loan Consolidation
• Credit Repair - Student Loans
• Repaying Bad Credit Student Loans
• A Student Loan Consolidation For the Student in Debt
• Student Loan and Debt Consolidation Tips

Share this story:
  • BlinkList
  • blogmarks
  • Digg
  • Facebook
  • Google
  • Sphinn
  • MySpace
  • NewsVine
  • Simpy
  • StumbleUpon
  • Technorati
  • E-mail this story to a friend!
  • Print this article!
  • Faves
  • Furl
  • Netvouz
  • Slashdot
  • Spurl
  • Yahoo! Buzz

EdFed introduces… Awareness… Learnal
At, EdFed, we proudly introduce 'articles on student loans' and 'Learnal - the journal to learn from', our free newsletter on student loan management, which is sure to keep you informed of the latest events and happenings in the student loan market. To receive your copy of the above just use the RSS feed below and add this to your "My Yahoo", blogs, newstickers, and other similar channels accepting distributable content.
Click here to sign up for our Weekly Newswire now!

How EdFed Helped others!
By consolidating through EdFed, I save $2,029 a year on unnecessary interest. That adds up to a lot when your loans are based on a 30 year term. I would recommend calling and seeing what EdFed can do for you. It is worth the call.
- Holly P.  New York, NY
* Your Name: * Your E-mail Address:

We respect your privacy.
* Your Friend's name: * Your Friend's E-mail address:
Include a Message:
+ Privacy Policy

Student Loan Consolidation Info - How to Choose the Right Loan Company

This column is sponsored by Granted, America's top job search engine. The Career Resources column is presented by Granted, America's leading job search engine dedicated to getting people jobs.

Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

read more
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

news desk
Stafford Loan Payment Calculator
PLUS Loan Payment Calculator
Loan Consolidation Payment Calculator
Glossary of Terms
Loan Comparison Chart
Scholarship Search
The interest rate on all federal loans has increased by almost 2 percent; you must consolidate now or you will be stuck with this high rate for the life of your loan.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2021 EdFed. All Rights Reserved.

Home · About Us · Contact Us · News · Sitemap
Career Advice · Tell a Friend · Privacy Policy · Resume Service
Resume Distribution Service · Post Resume · Job Search Course
Sign up for the latest news on student loans.
Email Address:
+ Most Recent Newsletter
+ Newsletter Archives