If you want to obtain loans and cards with reasonable terms and the lowest interest rates, work on fixing that report to increase that score to an ultimate high. Sometimes, after the request for a credit report, there are inaccurate and erroneous entries placed on it.
Here is what should be done to dispute these reports.
The request for a copy of the report is sent to a bureau. Individuals can request for a free copy of their annual credit report from each of the three agencies or bureaus in the US namely; Equifax, Experian and TransUnion. These three bureaus provide individual access to their central website, a toll-free telephone number, and a mailing address through which you can order your free annual report. The law allows one free report yearly to be ordered from each of the three consumer reporting agencies but at the same time, a report can be requested from each of the bureaus one at a time.
Once you get your report, check if there is an error. Take note of the items that appear to be incorrect. Write to the bureau and ask them to fix the mistake. You also need to send the creditor a certified letter and send a copy to the bureaus together with the pertinent documents to prove that it's inaccurate. Call the bureau that provided you with the erroneous information. They will provide you with the phone numbers of the lending company in question.
Call also the lending company and ask them to make a correction by studying the entry made on your report. If they made an incorrect entry, they should send a written copy of the correction to the major bureaus furnishing you a copy as well. After calling the lending company, document the phone conversation with a certified letter summarizing the call. If the lending company is unwilling to correct the report, then proceed to dispute the entry by preparing for a legal battle.
Request a copy of your credit report annually to keep on top of the situation. Now, following these tips, you are now ready to work on that score reaching an ultimate high so that you can obtain loans and cards with reasonable terms and the lowest interest rate.