Your credit data file may not reflect all your credit accounts. Although most national section shop and all-purpose bank credit card accounts will be included in your file, not all creditors supply information to credit bureaus : Some travel, entertainment, gasoline card companies, local retailers, and credit unions are among those creditors that don't.
If you've been told that you were denied credit because of an "insufficient credit file" or "no credit file" and you have got accounts with creditors that don't look in your credit file, inquire the credit reporting agency to add this information to future reports.
Although they are not required to make so, many credit bureaus will add verifiable accounts for a fee. However, understand that if these creditors make not report to the credit agency on a regular basis, the added points will not be updated in your file.
Sample Letter to Add Positive Information to Your Credit Record
Credit Agency Name
City, State Zip
To Whom It May refer :
After reviewing my recent credit report from your company, I noted that my credit report makes not include information that I cognize is of import to providing a complete image of me as a credit using consumer.
Therefore, I bespeak that you add the following account information on my credit file.
Account Type :
Date Opened :
Credit Limit :
Balance : ( If it's an unfastened account )
If there is any fee for this service or for any further information you might need from me, you can attain me at ( your phone number ).
Thank you in advance for your unparalleled assistance.
Social Security Number
Date Of Birth
For Example :
Suppose you had bought a used car from a used car batch 4 old age ago. And the cost for your used car was $8000.00, which you have got paid off in 2 years. If you tin demo on your credit report the auto loan you've paid off, that can dramatically change your credit report. Therefore, what you can make is contact the your used car dealership and demand for your account to be reported.
Or you can bespeak a transcript of your auto loan payment history to be mailed to you so you can get off it yourself to the credit bureaus. It's important to inquire yourself why a certain account was not reported on your credit report.
In most cases small businesses avoid reporting to credit bureaus because it cost businesses money to report your payment history to credit bureaus every month. To set it simply, every business who desires to report their clients account payment history will have got to subscribe to these credit bureaus and the subscription cost the business money.