Confirm Your Credit History

Confirm Your Credit History

credit history

SI Neg. 77-9347. Date: 1977. ..Triassic Mural, Dinosaur Hall, National Museum of Natural History ..Credit: Alfred F. Harrell (Smithsonian Institution) (Photo credit: Wikipedia

It is common for creditors to fail to report your good credit history to the bureaus.  Be pro-active.  Look at your report for missed positives as well as false negatives.

Why Should I have to confirm My Credit History?

In reality you should not have to confirm your credit history.  With recent confirmation by the Consumer Financial Protection Board that creditor’s mistakes are rampant it is apparent that vigilance by consumers is more necessary than ever.  Usually the mistake will turn out to be an honest oversight on your lender’s part.  No reporting system is truly fool proof.  Call or write the creditors who are not reporting your good payments.  Be persistent.  If they won’t cooperate send your own letter to the 3 bureaus, Equifax, Experian and Trans Union, with copies of your statements and whatever other proof you have.

Confirm that Credit Limits are being Reported as Well as your Credit History

Make sure your credit limits are being reported.  This is very important.  Your debt to available credit ratio is a significant factor in scoring.  Credit card issuers report your limit every month along with your most current statement.  In the case of cards like American Express, the highest balance you have ever had will be considered the credit limit by the bureaus.  This is because American Express does not have specific credit limits but relies on what it calls its “comfort zone.”

Credit History is Highest Balance by Default with American Express

You could game the credit scoring in the “debt to available credit” category by running a one time balance for a month near the top of what American Express will allow you.  You can then pay the high balance off the next month and revert back to whatever your comfort zone is for that particular card.  Your credit history, your credit score and your debt to available credit categories will show that high balance as the benchmark for that account from that point on.

Credit History Sometimes has a Nice Surprise

Mistakes can happen in your favor too.  A positive history could be reported twice or you could be credited by accident with another person’s positive history.  In this case simply follow the Beatle’s advice and “Let it Be.”

 Vigilance always leads to a better credit score!

 

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After practicing law for 37 years Edward F. St. Onge, Sr. now devotes all his time to helping consumers achieve a high credit score with amazing speed. Learn the counter-intuitive secrets to credit scoring through his down to earth instructions backed by extensive knowledge of the laws and trends. All of the latest tricks and techniques that they don't want you to know now at your disposal. At last a level playing field for the consumer!

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