Basic Overview Of Credit Score Ranges A person s credit report is essentially an ongoing look at his or her personal information, and provides a deeper insight on how well the individual manages his or her finances, and pays their debts. The individual s financial data is submitted to a credit reporting agency by creditors, debt collection agencies, the courts and other public or federal agencies. Once you've gotten approval, pay off the loan in the quickest time possible. Evaluate Your Credit Report For Errors Your credit report must still need to be fully evaluated, even if you've already been declared to be bankrupt. Check out any errors or inconsistencies on your credit report, because any negative item is only allowed to be reported for 7 years. However, the big three are not immune to errors and major flaws, and according to credit experts, these three agencies incur error rates ranging from 20 to 30 percent, although some of the errors may be as simple as reporting the wrong month of a delinquent account. Nevertheless, any simple credit report errors may still have a damaging on the person s credit score, which can result in the individual getting rejected for a much-needed credit line. Keep Your Credit Score High One of the best defenses during a crippling economic crisis is by keeping your credit score high. Also try opening a new credit card account; however, remember to keep your total revolving debt ratio to just 30% below your credit limit, so that you can rack up as much as 50 points to your credit score. Remember that the more credit cards you have, the more debt you'll end up with. You need to be responsible with one credit, before you insist on applying for a second or third credit card. In addition, remember to pay your card's balance on time. If you only charge your card for the items that you can afford to pay, then you won't need to wrangle with any future debt problems By paying your credit card's balance every month, this would indicate that you're capable of paying your bills, and will send a positive signal to most creditors and lenders. Credit monitoring services also cannot fully detect any fraudulent activity, because there are a number of details in your account which credit agencies are often not alerted, or notified about. - The problem with some credit monitoring agencies is that they charge fees which are unethically exorbitant.