We all know that mistakes are common.
I mean, who does not commit mistakes, right?
Mistakes are there to provide us lessons as we go on with our lives.
However, financial mistakes can be avoided if you are careful. If you are unable to avoid the mistake, then remember that there is a reason why you had that mistake in the first place - to serve as a lesson that you will need in the future.
If you already experienced some of these credit mistakes, you may need to be reminded in order to avoid committing the same credit mistake again. On the other hand, if you have not experienced these credit mistakes, we provide these to inform you on how to prevent them.
Here are the best ways on how to avoid credit mistakes:
Regularly monitor your credit reports
Monitoring your credit reports regularly will help you spot the mistakes immediately and thus, you will be able to find a solution in just a snap. Your credit is reported on three bureaus: Experian, Equifax, and Transunion, not just one or two. The reason for this is that some mistakes only appear in two or one credit bureaus while other mistakes appear in all three.
You can also get your free credit reports by going to this link www.annualcreditreport.com. During the COVID era you can receive your free credit reports once each week.
Freeze Your Credit
Prevent credit mistakes by freezing your accounts.
In this way, scammers and other people will not be able to take advantage of your credit. You need to freeze all three credit bureaus separately. Freezing only one credit bureau will have no effect and your credit can still be used by scammers. Freezing and unfreezing is free, at the time this is written.
The downside of this is that when you need to use it again, you will need to call all three credit bureaus and unfreeze your account which will be a big hassle on your part. Nonetheless, many people feel freezing their credit is the only way to prevent scammers and other people from using their credit.
Beware of Scammers
Be careful with scammers and hackers,. They are everywhere.
Be careful in giving your credit information to other people because we might never know if the one you are talking with right now is a scammer or a hacker. You need to be sure whom you are having a transaction with. You need to get to know or as much as possible, find any vital information that will make sufficient evidence that he is not a scammer or hacker.
Remember: we are living in a scary world. It is a very scary world out there so be careful.
If ever you found a dispute or a mistake in your credit report the best way you can do is to report it immediately to the three credit bureaus. All you have to do is to present valid proof of your identity and a report about the mistake that you found.
However, if the credit provider or creditors are the ones who committed a mistake, contact them directly. There are several ways you can contact them like contacting them directly to their chat services. Just be sure to be firm and persistent and they will do everything to fix your mistake.