The Components of a Credit Report

• 1). Review all of your records relating to any debts you may have. A credit report is a collection of all the activities of an individual related to accruing and repaying debts. If you would like to ensure the accuracy of your credit report, keep copies of all debt-related bills, receipts and money transfers so that you can independently validate it.
  
  
• 2). Maintain records of all communications involved in debt collection from both lenders and collection agencies. These communications always show up on a credit report. Notices that an account has entered delinquency will also be entered into a credit report.
  
  
• 3). Request a credit report from one of the main credit reporting agencies. This will also be accompanied by a score that is used to represent your overall creditworthiness. Individuals with high credit scores have greater access to low-interest debt, as it demonstrates that they have a record of paying their debts in a timely fashion.
  
  
• 4). Fulfill the terms of any loan contract you enter to improve your credit score. Calculating how much any particular action will affect your credit score is impossible without access to the formulas that the credit rating agencies use to determine them. Repaying defaulted loans or settling them with creditors can also improve credit score.