<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=331510594798275&amp;ev=PageView&amp;noscript=1">
Skip to Content Oregonians Credit Union Oregonians Credit Union
  • Save & Spend
    Save & Spend See an Overview
    • Current Rates
    • Disclosures
    • Fee Schedule
    • Credit Calculators
    • Savings
      • Regular Share Accounts
      • Youth Savings
      • Homebuyer Savings
      • Money Market Accounts
      • Club Accounts
      • Share Certificates
      • IRA Accounts
    • Checking
      • My Rewards Checking
      • My Interest Checking
      • Checking Comparison
    • Credit
      • Credit Cards
      • Overdraft Line of Credit
    • Digital
      • Digital Banking Online
      • Mobile App
      • Digital Payments
      • Mobile Wallets
  • Borrow
    Borrow See an Overview
    • Current Rates
    • Mortgage Rates
    • Loan Calculators
    • Mortgage Calculators
    • Auto
      • New & Used
      • First Time Auto Buyer
      • Local Car Search
    • Home
      • HELOCs
      • Fixed Rate Equity
      • Mortgages
      • Home Improvement
    • Personal
      • Personal Loans
      • Line of Credit
      • Share Secured Loans
    • Recreational
      • Bicycles & Electric Bikes
      • RVs & ATVs
      • Motorcycles
  • Plan
    Plan See an Overview
    • Retirement Calculators
    • Financial Planning
    • Insurance
      • Auto
      • Home
      • AD&D
      • Life
    • Protections
      • Guaranteed Auto Protection (GAP)
      • Mechanical Repair Coverage (MRC)
      • Debt Protection

    Featured Program

    Oregonians Financial Planning image with father and baby walking

    Oregonians Financial Planning

    Plan for the road ahead and manage your wealth along the way.

    Learn more
  • Business
    Business
    • Current Rates
    • Disclosures
    • Fee Schedule
    • Business Checking
      • Business Membership
      • Small Business Checking
      • Business Interest Checking
    • Business Loans
      • Commercial Real Estate
      • Investment & Rental Property
      • Equipment Loans
      • Term Loans
      • Credit Cards
      • Line of Credit
    • Business Resources
      • See all
  • Learn
    Learn See an Overview
    • Education Explore videos, blogs, fraud prevention tips, and our knowledge base of information..
      • InfORmed Blog
      • FAQs Knowledge Base
      • Fraud Watch
    • Financial Tools Browse calculators, applications, disclosures, and apply for hardship assistance.
      • Resources & Disclosures
      • Calculators
      • Hardship Assistance

    Featured Resource

    It’s a Money Thing

    Get money savvy fast with fun videos and lesson plans on earning, saving, and more!

    Learn more
  • About
    About
    • About Us
      • Who Can Join
      • Community Involvement
      • Scholarships
      • Latest Annual Report
      • Careers
    • Locations
      • Beaverton
      • Gresham
      • Milwaukie
      • NE Portland
      • Oregon City
      • Prineville
      • St. Johns

    CO-OP logo

    30,000+ fee-free ATMs

    Get cash at 30,000 fee-free ATMs nationwide, many of which will take deposits into your Oregonians accounts.

    Find an ATM
  • I want to...
    • Become a Member
    • Talk to Someone
    • Apply for a Loan
    • Open an Account
    • Check Loan Status
    • See Current Rates
Account Access
  • Forgot Password
  • Forgot User Name

Don't have an account?

Enroll
Routing #: 323075709
  • Locations
  • Rates
  • Contact
Call or Text: 503-239-5336
Join
  • I want to...
    • Become a Member
    • Talk to Someone
    • Apply for a Loan
    • Open an Account
    • Check Loan Status
    • See Current Rates
  • Locations
  • Rates
  • Contact
Account Access
  • Forgot Password
  • Forgot User Name

Don't have an account?

Enroll
Blog
    • Everyday Finance
    • Budgeting
    • Fraud Prevention
    • Finances
    • Savings
    • Holidays
    • Scams
    • Home Financing
    • Debt
    • Saving
    • Credit Cards
    • Investing
    • Car Buying
    • Fraud Watch
    • Home Improvement
    • Community
    • Homeownership
    • identity theft
    • Taxes
    • bills
    • Insurance
    • Travel Tips
    • Financial Wellness
    • Mortgage
    • retirement
    • vacation
    • Financial Security
    • shopping
    • Credit
    • General Health
    • Home Loans
    • car
    • house
    • investment
    • marriage
    • school
    • summer
    • 401(k)
    • Cash
    • frugal living
    • heloc
    • interest
    • job hunting
    • parenting
    • thanksgiving
    • winter
    • Auto Loans
    • DIY
    • Debit
    • First-Time Homeowner
    • Home Equity Loan
    • Home Inspection
    • Housing Market
    • Mobile Wallets
    • Mortgages
    • Personal Loans
    • Scholarships
    • Selling Your Home
    • Share Secured Loans
    • Spending
    • Student Loan
    • Telemarketing
    • Your Credit
    • camping
    • credit card
    • financing
    • gas
    • goals
    • grant
    • hacker
    • health insurance
    • heritage
    • insurance myths
    • insurance policy
    • kids and money
    • life insurance
    • malware
    • medical history
    • money management
    • mother's day
    • motorcycle
    • mutual funds
    • rv
    • samsung pay
    • security
    • single parents
    • skip payment
    • skipapay
    • spanish
    • stimulus
    • technology
    • thriving
    • trade in
    • wellness

The Dos and Don'ts of Credit Repair

Oregonians Credit Union Oregonians Credit Union Aug 1, 2018 5 min

If you've recently been rejected from a credit application of any kind, you may be looking at a poor credit score for any number of reasons. You might have been late with your credit card payments, have an outstanding judgment against you or have even been frauded or victimized by identity theft.

Whatever the cause of the fall in your score, you're probably looking for ways to get it back on track. Tread carefully! There are lots of dishonest opportunists looking to make a quick buck off your pressing need. Don't become the next victim of a credit repair scam. In fact, there's nothing a credit repair company can do for you that you can't do yourself.

This probably has you wondering how to untangle the legitimate steps you should be taking now from the pointless and costly actions. Look no further! Our handy guide of credit repair dos and don'ts will help get you on the road to improving your credit score.

Do: Determine your actual credit score

If a recent credit application of yours has been denied, don't take it at face value - find out why it happened. The three major credit reporting agencies - Equifax, Experian, and TransUnion - are each required to provide you with a complimentary copy of your credit report once a year, upon request. To order yours, visit annualcreditreport.com, or call 1-877-322-8228.

If you've already requested a report from each of the agencies in the last 12 months, you can still get one free of charge; you are entitled to a free report whenever a company takes adverse action against you, such as denying your application for credit, insurance or employment. To qualify, just request a report within 60 days of receiving notice of the action.

Do: Review your report and dispute any errors

Once you receive your report, review it for inaccuracies. If you spot any fraudulent purchases or erroneous information, you'll need to dispute them in writing. In your letter, identify every item you are disputing and the reasoning behind your claim. Include copies of documents thaEt support your stance and ask that the errors be removed or corrected. It's best to send your letter by certified mail so you can ensure the credit reporting company actually received it if that is necessary. Also, keep a personal copy of your letter and all supporting documents for your own records.

You'll also need to dispute the charge with your actual creditor, taking the same steps you did above.

Don't: Expect any quick fixes

Anxious as you may be to improve your score, know that there is no "quick fix" for creditworthiness. Enhancing your score takes time, lots of hard work and creating and sticking to a realistic debt repayment plan.

If your credit score is poor, you may be bombarded with promotional material from credit repair companies that promise to increase your score by 100 points in less than a month. If you think these claims sound too good to be true, you're absolutely right. There are some legitimate credit repair companies out there, but as mentioned, there's nothing they can do for you that you can't do on your own - and without paying their hefty fee.

Do: Take steps toward fixing your credit

If you've determined that your credit report is accurate, you'll want to take a careful look at the habits that may be leading to your unfavorable score.

Are you timely with your credit card payments? If you're consistently late, consider setting up an automatic bill-pay system so you never forget to make a payment. Are you making headway on your debt? If you're paying your bills on time but your debt is not going anywhere, it's time to rethink your spending habits. Don't shop with credit cards; use only debit or cash. Look for ways to trim your expenses, like couponing wherever possible, planning dinner menus around sale items, and finding cost-free ways to relax instead of blowing money at a restaurant or on retail therapy.

Are your monthly bills unmanageable? If you can't make it through the month and still meet all of your minimum payments, your debt may need an overhaul. Consider debt consolidation, in which your debt is transferred to one low-interest account, or a balance transfer to a card that has an interest-free period. Be aware, though, that lots of open credit is not considered favorable by creditors; close as many accounts as you open - but leave your oldest one open as it shows a longer period of credibility.

Also, no card is interest-free forever. When the introductory period ends, you may be hit with higher than usual interest rates. Alternatively, you can contact your creditors and work out a more reasonable payment plan.

If these options don't sound feasible, try finding ways to increase your income instead, using all extra cash exclusively for paying down your debt.

Don't: Expect to see any changes immediately

Don't fret if you've made strides toward fixing your credit and haven't yet seen an increase in your score. Creditors will only report to the credit reporting agencies on a periodic basis, usually once a month. It may take upward of 30 days or more for your account to be updated and your score to improve.

Do: Ask us for help

Here at Oregonians Credit Union, we're all about helping you manage your finances. If you're in financial trouble of any kind, we can help! Stop by today to ask about our credit counseling services and assistance with creating and sticking to a budget.

 

Have you drastically improved your credit score? What was your secret weapon? Share your success and best tips with us in the comments!

 

SOURCES:

https://www.credit.com/credit-repair/

https://www.consumer.ftc.gov/articles/0058-credit-repair-how-help-yourself

http://www.experian.com/blogs/ask-experian/credit-education/improving-credit/credit-repair/

Subscribe to our Blog

Get the latest insights sent directly to your inbox.

Related Posts

Jul 18, 2018 5 min
Don't Let Financial Stress Take the (Wedding) Cake
Everyday Finance
Apr 5, 2020 5 min
Financial Dos and Don’ts During the Coronavirus Outbreak
Everyday Finance
Mar 25, 2020 5 min
Factors that Don’t Affect Your Credit Score
May 4, 2022 5 min
Gifts for Mom that Don't Break the Budget
Budgeting
Oregonians Credit Union

6915 SE Lake Road, Milwaukie, OR 97267 

Call or Text

503-239-5336

Out of Area

800-982-2974

Routing #

323075709

Download our App

  • App Store Download
  • Google Play Store Download
  • Save & Spend
    • Open a New Account
    • Savings
    • Checking
    • Credit
    • Digital Banking
  • Borrow
    • Apply for a Loan
    • Vehicle Loans
    • Home Loans
    • Recreational Loans
    • Personal Loans
    • Business Loans
  • Plan
    • Insurance
    • Protections
    • Financial Planning
  • Learn
    • Informed Blog
    • Fraud Watch
    • It's a Money Thing
    • Calculators
    • Hardship Assistance
  • Business
    • Business Accounts
    • Business Loans
    • Business Resources
  • About
    • Become a Member
    • About Us
    • Contact Us
    • Locations
    • Careers
    • Privacy & Disclosures
    • Accessibility Policy
    • Site Map
    • Digital Banking Login

  • NCUA
  • Equal Housing Opportunity
©2025 Oregonians Credit Union All rights reserved.

You are leaving OregoniansCU.com

By accessing this link, you will be leaving Oregonian Credit Union's website and entering a website hosted by another party. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Oregonian Credit Union's website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Oregonian Credit Union.

 

Subscribe