Transunion is one of the three main credit reporting agencies. The other two are Experian and Equifax. Each of which sell their version of your files to lenders that you are looking to do business with. In this article I want to give you an idea of how long it takes to improve your Transunion rating and score.
The first thing you need to understand is the fact that there are two ways you can improve your Transunion rating. First to have old negatives deleted or corrected and the second way would be to begin rebuilding a payment history with a creditor on an account such as a credit card or even department store card or some other form of revolving credit.
You first want to take a look at your file and see what needs to be deleted. Which accounts are on your report have "expired" according to the Fair Credit Reporting Act. If such accounts exist on your file you want to contact Transunion by writing them to tell them to delete such accounts. This is your RIGHT according to the law!
The next part of your credit clean-up plan is a little more difficult. This is where you have to begin rebuilding a credit history, which is where a lot of people get hung up because they normally get denied when they apply for any type of credit.
You want to get past this hurdle by using a secure credit card which does not go by your current credit rating in order to approve you. Instead they ask for a deposit and advance you credit only in the amount of your deposit. This is how they approve your card without a good rating.
Another way is to have a family member that has the same last name and lives with you to add you to one of their revolving credit card accounts that has a good payment history.
The account and the good payment history will eventually show up on your Transunion, Equifax and Experian files which would help give your rating a lift! It could take anywhere from three weeks to three months to improve your Transunion rating depending on your current situation.
Visit do-it-yourself-credit repair or credit repair services to learn more on raising your credit score 200+ points to get approved for car, home and credit card loans. Article Source: http://EzineArticles.com/?expert=Tony_Banks Cleaning Up My Transunion Credit - How Long Does it Take? |
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