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What is a credit report?
A report outlining the credit history of an individual which includes current and previous debts, payment amounts, late payments and past due amounts and other related information on every credit source the individual has used.
Do I have a credit report?
Chances are you have a credit report if you have ever applied for or even enquired about any financial product, mobile phone contract, store credit card, credit card or insurance product.
What is a credit score?
A credit score is a measurement of how likely a person is to repay their debts. The traditional score is named for the Fair Issac Corporation(FICO)and is a range of 300 to 850; the median score is 723. With three different agencies reporting consumer credit scores, an effort was made to systemize their stats by introducing VantageScore in 2006, on a range from 501-990. Our service can help you dig even further into these numbers so you can increase credit score strength.
How does my credit rating affect me?
Every time you open an account, apply for credit, or when you are late paying a bill, it all goes on your credit report. If you have 'defaults', 'late payments' or other negative notes on your file you may be considered a 'bad' credit risk. Therefore you may pay more for your loans, credit cards etc, or you may be refused credit altogether.
How is my credit score calculated?
The two biggest factors in your credit score are your payment history and your credit utilization. Late payments get negative credit marks; paying on time consistently will increase credit score metrics. Your credit utilization compares your debt balances versus your debt limits; if you have several maxed out credit cards or closed accounts your score lowers. If you keep low debts on large accounts and pay them off regularly, you will improve your credit. Sudden flurries of credit seeking can also lower one's score.
How can I get a bad credit rating?
You can get a bad credit rating by simply forgetting to pay a bill on time, by disputing a bill, by simply assuming you have paid an account in full, or when you have moved address but forget to divert the mail or inform the credit provider. It is also possible to get a bad credit rating by having too many applications for credit, even if you have appointed a broker who has made a number of applications on your behalf.
What can I do to increase credit score?
Our service has helped thousands of people increase credit score metrics and power in their lives. The first thing to realize is the simplest - your credit score is a measurement of your creditworthiness, so be more reliable. Pay all bills on time or early - even utilities, rent and cable payments can be reported to the credit bureaus nowadays. Take out credit, no credit can be as bad as bad credi, but don't use it all up. Use a little at a time and pay it off as soon as you can. With on time payments and smart application of credit you'll increase credit score numbers kept by the bureaus on your behalf in no time at all.
What exactly do you do?
Our program is designed to be very easy. When you sign up with us you give us the limited right to carry out credit repair work on your behalf. Upon receipt of your credit reports we conduct a detailed examination in light of the laws that govern all of the participants in the credit reporting process. We will identify everything that is not in compliance. We then send letters to the relevant parties for the purpose of clearing derogatory information from your report. Our approach is truly effective. In addition, we provide valuable counseling services to insure that you are armed with all of the information needed to maximize and maintain your valuable credit scores.
How long will it take to repair my credit report?
You can expect to start seeing results within 30 to 45 days. But keep in mind that everyone's situation is different. The entire process may take as little as 60 days or may take 6 months or longer depending on the type and number of items that need to be addressed. It is probably no surprise to hear that the credit bureaus may not remove an item on our first request! This may necessitate additional efforts on our part. We have been dealing with the credit bureaus since 1989. We know how they operate! It's our job to re-address any oversights to make sure that you get the results that you are entitled to.
Should I sign up my spouse at the same time?
We suggest that you both sign up! We offer great discounts to encourage you to sign up at the same time. As a couple you may share a significant number of accounts, or you may share none. Either way, when you sign up, we will set up individual files and you will both get the full benefits of individualized attention. To qualify as a couple you must share the same mailing address.
How do you dispute joint accounts?
Joint accounts are treated the same as individual accounts. If you take advantage of our 50% spousal discount we will set up individual files for both of you and every dispute will be pursued methodically. It is possible that we will be disputing the same information for you and your spouse at the same time. This is appropriate. You will each have your own credit report and we will give you equal individualized attention.
Can you help us build new credit?
If it looks like you will be left with insufficient credit when our job is done we will offer to guide you through the process of opening one or two new secured credit cards. This may be an important step in the process of building great usable credit. Creditors look for open accounts that are in good standing. A secured credit card requires a small savings deposit which usually secures the entire credit line on a MasterCard or Visa. These credit cards will be reported on your credit report. We will suggest that you use the new card for a small purchase and make the minimum payment each month. We do not have affiliate relationships with any of the credit card companies that we recommend. We make our recommendations solely for your benefit.
What should I do while you are repairing my credit?
You are signing up with us because you want good credit and all of the benefits that come with good credit. We work very hard to make sure that we get the best results possible. But there are things that you need to do too! Here are some important guidelines:
1) Pay your bills on time.
Late payments have a dramatic impact on your score.
2) Don't max out your credit cards.
Approaching the credit limit on your credit cards can cost you big time! You can lose over 100 points by running your cards up to the max.
3) Only open new accounts when you have to.
Don't fall into the trap of taking every credit card offer that arrives in your mailbox. Newly opened credit lines reduce your score. This system is one of the best and most effective ways of building credit.
Do you share our personal information with anyone?
Never! We do not, under any circumstances share, sell, or in any way provide your information to anyone. To make this super clear; your name will not be sold or given to anyone for any purpose. No one will see your information. We will not discuss your case with anyone under any circumstances.
How do I send you my credit reports?
After you sign up we will provide you with specific step-by-step instructions for obtaining your credit reports and getting them to us. If you have not requested your free credit reports from annualcreditreport.com in the last 12 months you may do so. If you have already received your free credit reports and they are no more than 60 days old you can provide them to us via mail (or email). If you have already received your free reports and they are older than 60 days, you will have to purchase new reports. Please also note that once our process is underway you will be receiving updated credit reports periodically from each bureau reflecting the results of our efforts. There is no charge for these reports. We will request that you send us these reports and any other communications that you receive from the bureaus to us so that we can monitor the results.
When I request my report, does it hurt my credit scores?
No. When you request your own report it has no impact on your credit scores. Generally speaking, when someone else runs your credit it is because you have applied for new financing. Since an inquiry usually indicates that you are about to incur new debt it is somewhat reasonable that your score is adversely impacted. It is worth noting however that the impact of an inquiry is small and vanishes in a number of months. There are several instances when your credit may be run without affecting your score. These exceptions include direct inquiries by you as well as inquiries that are made without your knowledge by potential creditors (think of those credit card offers that arrive in your mailbox). The reason that these inquiries don't count against your score is simply because they don't indicate any intention on your part to incur new debt.
Can you order our credit reports for us directly?
No we can't run your credit for you. Credit repair companies are not allowed to order credit reports for their clients. Credit reports may only be run for the purpose of determining credit worthiness. We do believe that the law should be amended to allow credit repair companies to run your credit without impacting your score. The service that we provide is essential for millions of people and it is our position that legislation should be enacted to make the process of hiring us as easy as possible. However, until this occurs you will have to obtain your own credit reports. When you sign up we will provide you with super simple, step-by-step instructions on how make getting your reports easy and hassle-free.
