When considering credit card deals, you are likely looking forward to achieving a good credit report, but it can also be a challenge to make this happen.
It’s not surprising, though that there are many different companies out there trying to help you to create good credit simply through the use of their services. Good credit history records don’t just happen based on what these companies can do, especially since many of them are not able to do any of the things that you think that they can do.
There are some legitimate companies in the field of credit repair, but for most that claim to be able to clear your file or to promise to improve your credit within a set amount of time, this is less likely to be true.
As a consumer, you need to see what claims are out there that are authentic and which ones can’t actually provide you with what you need. In addition, you may be able to go from a bad credit to a good credit on your own, through the same steps that they can provide for you. Do this so that you get the credit card deals you need and deserve.
Credit card deals: don’t fall for this myth
If you have poor credit and a bad credit history, then you are probably getting quite a few ads promising to provide you with the ability to clean up your credit report. While most of these companies will provide you with a cost, sometimes thousands of dollars, they do nothing to improve your credit report.
That’s because of the Fair Credit Reporting Act which says what can and can’t be reported as well as how it is reported. Items can’t be changed on your credit report expect for a specific manner which only allows information to be removed that is inaccurate and timely.
Although these companies say that they can help to remove all types of negative information from your poor credit report, that’s not true. What they do is to file a complaint or a dispute with the credit bureaus on every negative aspect on your credit report. This means that if the credit bureaus can’t prove that the information is accurate that it must be removed, but that usually is only a temporary thing.
Many times the problem here happens when the creditor doesn’t provide the information needed in a timely fashion, but once this information is submitted, then the credit report will show accurately what it is.
But, this takes long enough that the credit repair company is still paid and the consumer is left without his money or an improved credit report. In the end, the credit card company that you apply online for a credit card with, will not realize that you have anything but bad credit.
If there is negative information on your credit report, it will take time for it to come off. For most reports, this will be within seven years. Bankruptcies can stay on your credit report for up to ten years. If you have unpaid judgments against you, this can be reported loner, or depending on the limitations. To get the best credit card deals, check to see how long your bad credit marks will be there for.
Get better credit card deals
If you want to improve your credit report by actually getting rid of inaccurate information on your credit report, you can do this on your own. For starters, you would issue a dispute on the information in your file.
Once that is done, the bureau will then investigate it within 30 days and then determine if the dispute or the creditor’s information is accurate. The creditor will then need to investigate and prove or disprove their claim. If the information is inaccurate, this will then be reported to all three of the credit bureaus so that it too can be taken care of.
As a consumer, this only takes a few minutes of your time and there’s no charge for filing your dispute, meaning that you can quickly remove those errors without any cost to you. When you do this, you’ll find that you can go from bad credit or poor credit to good credit or even excellent credit, but only when it is a legitimate case.
Another myth to help you get credit card deals
Another problem that you could fall victim to as a consumer looking to turn your bad credit into good credit is that of a new credit identity ploy. Here, the company claims that you can visit the Internal Revenue Service and get an Employer Identification Number which is the same size as a Social Security number.
You will then use this number whenever you apply for credit as it will not be linked to your old credit report and therefore the negative information there isn’t used.
Here, you are lying on your paper or online credit card application and are putting yourself at risk of being prosecuted for the federal crime of misrepresenting your Social Security Number or when you obtain an EIN under the wrong pretenses.
If you want to use a credit repair agency to improve your credit, you’ll have to do so with the risks that come with it. Try to not pay them until they do what they say they are going to do for you. The Credit Repair Organization Act is a new law that allows consumers not to pay these companies until they do what they have promised to do for you.
If you want to improve credit history, then you need to work for it. Get the errors off of your good credit history report. Then, apply online for a few new lines of credit, pay them off monthly and your credit score will continue to rise, slowly but positively. Soon, you get not only good credit card deals but the best credit card deals.
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