2torial #0533:
Learn2 Clean Up Your Credit Report

Give yourself some credit

You could be among the 25 percent of U.S. consumers denied credit this year due to inaccurate information in a credit report. And unless you do something about it, these blemishes can affect your finances for years to come. However, there are things you can do to clean up your report, so when it's time to apply for any type of credit, you'll be ready.

Stop applying for credit cards or loans of any type until you've had a chance to access and review your credit report, especially if you've had a credit application turned down within the last month. Chances are if one company rejected your application, others will follow suit. And every time you submit a credit application, it appears on your credit report.

Too many declined applications can look negative, because lenders consider the number of credit applications to be an indicator of how much credit you're trying to obtain, and can conclude that you'll be an irresponsible user of credit if they see too many inquiries.

Keep in mind that credit reports and the mechanisms for cleaning them differ from country to country. This 2torial concentrates principally on the U.S.