What is a credit score?

The three credit bureaus assign you a credit score ranging from the mid 200s to the mid 800s. The higher the score, the better credit you have.

Your credit score is a snapshot of your credit risk for a particular time frame. Scores are determined by the number of collections, late payments, bankruptcy, number of credit cards, high balances, outstanding debt, payment history, etc.

 


5 Major factors include:
Payment History, Amount Owed, Length of Credit, New Credit and Type of Credit Used

Why is a Credit Score Important?

 

important credit score

Lenders use your credit score to establish the amount of risk associated with providing you a loan. Creditors will rarely extend fair credit to you with blemishes on your record. The higher your score, the less risk they see in providing you a loan. Lower credit scores will not always disqualify you for a loan, but your interest rate will often be higher.

The current system does not provide you the opportunity to defend yourself before inscribing your credit file with the damaging information. They believe that you must prove to them that the negative information on the credit report is incorrect, invalid, erroneous, or otherwise unverifiable before it will be removed. The Credit Bureaus believe that you are guilty until proven innocent.

 

What Can I do to Increase My Credit Score? We Can Help!

Does the information reported about you fall into any of the following categories: Inaccurate, Incomplete, Duplicated, Included in Bankruptcy, Misleading, Not Yours, Improperly Utilized, Paid off, Incorrect Balance, Does Not Reflect Credit worthiness, Does Not Reflect Credit Standing, Does Not Reflect Credit Capacity, Biased Information, or Authorized User?

If the data reported about you falls into any of the above mentioned categories, We Can Help You! Contact us to begin analyzing and repairing your Credit today. We have affordable payment plans available to fit any budget.

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