Credit File Stability

July 17th, 2010

Adding Stability to Your Credit File

Adding stability to your credit file may increase your Credit Score or FICO Score and improve your Credit Report overall. Creditors like to see evidence of stability in your credit file. If any of the items listed below are missing from your file, you may want to send a letter to the credit bureaus asking that the information be added.

What should I add to my credit file to show stability of my credit file?

Your current employment

Adding current employment including your current employer’s name and address and your job title can increase your credit file stability. However, sometimes adding this information to your credit file may no be wise. For example, if you think a creditor may sue you or a creditor has a judgment against you, you may not want to add any information to your credit file that may be used against you. Also, current employment information may be a green light for a wage garnishment.

Your previous employment

Your previous employment should be included especially if you’ve had your current job fewer than two years. Include your former employer’s name and address and your job title.

Your current residence, and, if you own it, say so.

Not all mortgage lenders report their accounts to credit bureaus. Showing that you are a homeowner can help your credit score. However, don’t add this information if you’ve been sued or you think a creditor may sue you. Real estate is an excellent collection source.