Obtaining a loan at the bank makes it possible to purchase the necessary goods or services.
It often happens that when you turn to a bank regarding a loan, you are denied due to a bad credit history.
Data on loans taken is stored for 7 years, in case of bankruptcy 10 years, so even long-standing mistakes can ruin the credit history.
Some banks offer their programs to improve the rating, but the reviews are not always positive.
The essence of these programs is that micro loans are issued to customers for a short period and they must be repaid on time and on schedule.
But it happens that a sign of errors in the credit report is fraudulent access to your personal data, someone is trying to open credit cards and other loans under your name.
Therefore, you need to order a copy of your credit report, carefully read it and it is advisable to do this once a year in order to know your mistakes, and possibly bank errors.
Some errors may be minor, such as inaccuracy of the specified name, date of birth, zip code and others.
More serious errors are, for example, an incorrect payment history or an indication of loans that do not belong to you in the report.
Studies have shown that 25% of consumers had a mistake in their credit history, 5%, because of this, paid higher interest rates and 10% found and corrected, thereby raising their credit rating. This is the FTC study in 2012.
It is a great temptation to pay a loan repair company, which is now very much. But if we study their methods, we can conclude that they are not always effective, they can repair for a limited time, after which the credit history becomes negative again and even worse when their methods are illegal.
It’s best to do your credit history yourself, which will be cheaper or free.
Credit restoration programs have now been created that facilitate the process of correcting errors and monitoring the status of credit history.
Programs are paid, but it will be more profitable and reliable than ordering paid services. Moreover, you are engaged individually with access to your information.
One such program, which is in the top ten, is
Credit Repair Magic, which you will learn about and be able to buy. Also read in detail the best recommendations that will surely help you.