Credit Report Experts

Your Credit Score is Not What You Think

Credit repair is not always clear-cut. You may be surprised to hear that you can pay your bills right on time for years on end and still have crummy credit scores. Your score is not a report card on your payment habits, it is a complex algorithm designed to predict the chance that you will default on a loan. There are numerous factors involved, many of which may seem to have no bearing on your willingness or ability to repay.

You Have Control Over Your Scores

Credit repair is about achieving an optimal balance of the factors that influence your scores. There are many dynamics involved, including the type of debt you use, number of accounts you have, utilization of credit lines, and age of accounts. The FICO scoring model may be a black box, inasmuch as the exact formula is not public knowledge, but the mechanics are not obscure. Credit repair is a science and you can control your scores.

The Credit Bureaus Make Mistakes

Before launching a credit repair effort it is important to know that the credit bureaus manage an unusually complex network of participants, all of which come together to create the credit reporting system. Full Post…

A Remarkable Opportunity

Credit repair offers a remarkable and extraordinarily effective means of re-taking control of your own credit life. No longer do you have to be at the mercy of the cumbersome and error prone credit reporting system. Credit repair will empower your life and give you a say in your own financial future. It is not hard, just put one foot in front of the other and before you know it your credit issues will be a thing of the past.

Take a Deep Breath

Are you ready to start the credit repair process? Take a deep breath and get ready for an attitude adjustment. It is time to doubt authority. The credit reporting system is prone to error and no credit report should be taken at face value. There is too much riding on the accuracy of your reports to impute any degree of accuracy to the system; quite the contrary.

Systemic Credit Repair Issues

The reporting system spawns errors for a variety of reasons, many of which cry out for credit repair attention, but it is worth pointing out that the credit bureaus are not the enemy. In fact, they do a darn good job considering the enormity of the task at hand. Full Post…

Lower Your Credit Card Balances

Does this seem boring or just plain unrealistic? As tough as it seems this is a big credit repair factor. But it need not be hard. The lower your credit card balances are the higher your scores will be. The great news is that high balances do no long term credit repair damage. Chip away when you can and watch your scores pop up.

Open Two New Credit Cards

If you have had credit issues, this credit repair tip may sound like an impossible dream. If you thought you would have to wait years before rebuilding your credit here is some great news. You can do it today with secured credit cards and your scores will start climbing before you know it. Get two small secured cards for the biggest benefit. It is easy and you will not get denied regardless of your past history.

Professional Card Management Techniques

Once you have your two new cards you will want to get the most out of them by employing these easy FICO score friendly credit repair strategies. Use your cards when you get them, but use less than 20 percent of the available limit. And when you get the bill do not pay if off entirely. Full Post…

Awesome Short Term Credit Repair

Credit repair offers a variety of techniques that have the ability to improve your credit scores in a relatively short amount of time. There is a finite limit to the benefit that you can get with these short term techniques, as time itself does play an inexorable role in certain parts of the FICO scoring formula, but these short term results can still be awesome.

The Amazing Power of Balances

The biggest, fail-safe credit repair technique for fast score improvement is to reduce your credit card balances. This may seem a boring and well-worn idea, but it cannot be ignored as a little balance tune-up can add over 100 points. The FICO model puts so much weight on this factor that you cannot afford to ignore it. Here are some more angles on the matter.

The Increments That Count

For credit repair purposes you should only care about 20 percent increments of credit card utilization. You will get the biggest benefit by getting your balances under 20 percent of the available credit line. For example, if you have a 1,000 limit, get your balance below 200 dollars. Full Post…

Your Debt and Your Credit

There are a number of junctures at which debt management and credit repair intersect. Your debt will have a serious impact on your scores via the FICO scoring model which considers your balance to debt ratio. The higher your balances the lower your score will be and vice versa. Your debt load can cross over into your credit life in other important ways as well

Your Balances and Your Scores

The application of credit repair principles to debt management for the purpose of optimizing credit scores must take the FICO treatment of debt into consideration. FICO acknowledges credit card utilization levels in 20 percent increments; the lower you go the better, but it is handy to know the details. Think of 60 percent card usage as neutral, 40 percent and below as positive and 80 percent and above as deadly. Manage your balances with care.

Charge Off and Collection Accounts

Many people involved in credit repair have another form of debt worth considering. When a default occurs the creditor will typically write off, or charge off, the debt after 180 days. At this point the debt will be sold or assigned to a collector, who will attempt to collect. Full Post…