August 1, 2008 • June Walbert
Q: I am desperately trying to raise my FICO score. My highest score is currently 721 but the lower two scores are in the 650s. I think this is because the accounts that I have in good standing have not been reported to all three bureaus. How do I make sure the information is reflected on my report by all three bureaus? I think my score will increase significantly. Please help.
-Carlisha
A: Wow that is an unusually big disparity between the three agency scores. So you know your scores, but have you examined your credit reports closely? The first step is to order a free credit report from each the reporting agencies using the government-mandated program at www.annualcreditreport.com. Identify the discrepancies. If there are errors, such as entries that do not belong to you, dispute them online or by contacting the reporting agency. However, if some of your creditors may choose not to report your history and transactions to all of the agencies — all you can do is ask them to do so. Sorry, no silver bullet, just more homework!
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June Walbert is a CERTIFIED FINANCIAL PLANNER TM practitioner with USAA Financial Planning Services, one of the USAA family of companies.
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