It is common knowledge that information all your day to day financial transactions goes on to your credit report. But you cannot be 100% certain that the credit reference agencies hold the correct information on all your financial dealings. Incorrect or outdated information on, say, long ago missed payments which have now been resolved, could affect your credit rating in the future. So how do you go about correcting this wrong?
One of the ways to prevent this from happening is by always checking your credit card statements, from time to time. When you do this, you are just not ensuring that you are not a victim of identity fraud but also making sure that correct information of your credit card/s transactions have been posted to the credit reference agencies.
Keep all the receipts of the current transactions that have been made on your credit card/s so that you'll be able to counter check the statements when it arrives by post. If you do find any areas that you wish to dispute, then you can contact your credit card issuer while it is still hot. These types of customer disputes can be resolved quickly if you have your receipts in your possession. If the credit card provider accepts the error, then they will not only be obliged to put the record straight but also inform the credit agencies of their error, within a period of 28 days.
If the disputed item cannot be resolved, you can then contact the credit reference agencies directly by sending them copies of your receipts/paperwork along with a copy of your credit report. They, in turn, will carry out their own private investigation of your case. If it transpires that incorrect information has, indeed, been supplied by your credit card provider, you credit report will be duly amended and your record put straight.
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