Credit reporting agency must reinvestigate item(s) in question, usually within 30 days unless they consider your dispute frivolous. They also must forward all relevant data you send them to information provider (bank, credit card agency, etc.).

After information provider receives notification of a dispute from credit reporting agency, it must review and investigate all relevant information provided and report results back to credit reporting agency.

If information provider finds disputed information to be inaccurate, it must notify all nationwide credit reporting agency so that they can correct this information in your file.

Disputed information that cannot be verified must be deleted from your file.

Inaccurate information must be corrected by CRA.

Incomplete information must be corrected by CRA.

Any account that belong only to another person must be deleted by CRA.

NOTE: Credit repair can be long and tedious, importance of knowing your rights cannot be emphasized enough so be sure you take time to digest this information.

It is extremely important that you dispute any inaccuracy with credit bureau, but also with company that furnished information to credit bureau. No one is going to make corrections on your behalf.

“Credi-quette” --The Miss Manners Guide To Proper Credit Card Handling

Once you get a card in mail, sign it immediately so no one else can use it. Note that accompanying papers have important information, such as customer service telephone numbers in case you have questions or your card is lost or stolen. File this information in a safe place – one that is easy for you to access.

Call card issuer to activate card. Most cards come with stickers affixed that give you a telephone number to call. Many issuers require this step to minimize fraud and to give you additional information.

Keep your account information to yourself. Never give out a credit card number or expiration date over phone unless you know who you’re dealing with. A criminal can use this information to steal money from you, or even assume your credit identity.

Keep copies of sales slips and compare charges when your bill arrives. Promptly report in writing any questionable charges to card issuer.

Don’t lend your card to anyone, even a friend. Your credit privileges and history are too precious to risk.

Credit Card Land Mines – Watch Your Step!

While a credit card makes it easy to buy something now and pay for it later, you can lose track of how much you’ve spent by time bill arrives if you’re not careful. And if you don’t pay your bill in full, you’ll probably have to pay finance charges on unpaid balance. What’s more if you continue to charge while carrying an outstanding balance , your debt can snowball.

Before you know it, your minimum payment is only covering interest. If you start having trouble repaying debt, you could tarnish your credit report. And that can have a sizable impact on your life. When a negative report makes it more difficult to finance a car or home, get insurance or even get a job, it can be frustrating, embarrassing and downright painful.