Under law, both credit reporting agency and organization that provided information to credit reporting agency have responsibilities for correcting inaccurate or incomplete information in your credit report.

So, if you find an error on your credit report, be sure to notify credit bureau in writing immediately:

1. Tell CRA what information you believe is inaccurate on your credit report. Include copies, never originals of documents that support your position.

2. In addition to providing your complete name and address, your letter should clearly identify each item in your credit report that you dispute. State facts and why you are disputing information. Enclosing a copy of your credit report with items in question circled can be helpful.

3. Though you may think your reason for writing is obvious, be sure to request that error be corrected.

Credit cards are great financial tools and convenience they provide is beyond question They are easier to carry than cash and offer valuable consumer protection under federal law.

Establishing A Good Credit History

Suppose you haven’t financed a car loan, a computer or some other major purchase. How do you begin to establish credit?

First, consider applying for a credit card issued by a local store and use it responsibly. Ask if they report to a credit bureau, most major department stores do. If they do and if you pay your bills on time you’ll establish a good credit history.

Second, consider a secured credit card. A secured credit card requires that you open and maintain a bank account or other asset account at a financial institution as security for your line of credit. Your line of credit will be a percentage of your deposit, typically from 50 to 100 percent. Credit card application and processing fees are not uncommon for secured credit cards. In addition, secured credit cards usually carry higher interest rates than traditional no secured credit cards.

What To Do When You Are Denied A Credit Card

If you’re turned down for a credit card, it is important that you ask why. It may be that you haven’t been at our current address or job long enough, or that your income doesn’t meet issuer’s criteria. As you’ll discover, different credit cards companies have different standards. But, if you are turned down by several companies, that may indicate that you are not ready for a credit card.