Little known secrets for improving your credit score

August 10, 2010 · Posted in Free Credit Report · 6 Comments 

What’s the fastest way to raise your credit score? To quote the classic magazine salesman from the movie Office Space “That all depends”…

While the removal of negative items from your credit report will almost always result in an increase in your credit score, there is a method that works better.

Here’s why. Adding positive accounts is actually more effective at improving your credit score (in the short term) than removing negative ones. Unfortunately, few consumers or credit repair companies know this.

One of the biggest problems with trying to get approved for new credit is that you need to “have” credit in order to be approved. This causes a sort of catch 22.

How does one “get” credit if no one will give them credit because they don’t have any credit to begin with? A vicious cycle indeed, but a real one. However, if you have someone you can use a cosigner this is NOT a problem. Simply have them cosign on the new credit application for you. If you don’t have a cosigner, read on.

Contrary to popular belief (or what myfico and credit repair companies would like you to believe), the largest factor in building a solid foundation for your credit score comes down to two credit scoring factors:

1.) The “High Credit Limit”

and

2.) Your “Debt to Credit” Ratio

Your high credit limit is simply the total amount of primary unsecured revolving credit lines you have (i.e. three credit cards at $5,000 each equals a high credit limit of $15,000).

Get it? Good.

Your debt to credit ratio is simply the amount owed on these cards in relation to your high credit limit (i.e. if your high credit limit was $15,000 and you owed $7500 your debt to credit ratio would be %50).

Keep in mind, your high credit limit is comprised ONLY of your total amount of unsecured revolving lines of credit. Home mortgages, auto loans, student loans, equipment leases and debit cards do NOT count towards your high credit limit.

A debt to credit ratio of 25% or less is ideal. Of course, there are many other factors which come into play, but keeping it simple, how does one improve credit score via increasing their high credit limit and lowering their debt to credit ratio?

That is the question….

The fastest way we have found is by adding primary user unsecured revolving lines of credit which are guaranteed approval (note: these are NOT authorized user accounts!). These are unsecured lines of credit which appear on your report just like a visa card, mastercard or department store card etc.

We have found that while unsecured credit is the most difficult to obtain, it has proven to be the highest scoring on ones credit report. To find out the fastest we’ve found to add primary unsecured revolving lines of credit to your credit report, please visit:

http://www.CSBCards.com

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Can credit repair companies really do what they claim?

June 23, 2010 · Posted in Credit Repair · 5 Comments 

There are so many credit repair companies and they all claim that they can practically perform miracles. Do they really do what they advertise? Which ones have good credentials? Does anybody have any good or bad experiences with their services?

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Mortgage companies that also do credit repair

June 13, 2010 · Posted in Credit Repair · 7 Comments 

I would like to refinance my home but I have a few negative items on my credit report. Are there any good mortgage companies that will do both refinancing and credit repair?

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Looking for a legit credit repair company

June 2, 2010 · Posted in Credit Repair · 4 Comments 

My husband and I are looking to buy a house in about 6 months so we would like to fix our credit fast . So many credit repair companies claim that they can remove bad items from your credit report. Has this worked for anyone? If so, which company and how much did your credit score increase? How long did it take?Also, how much did it cost to have this done?


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How can I start a credit repair business?

May 18, 2010 · Posted in Credit Repair · 3 Comments 

What are the best ways to start a credit repair business?


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Credit Repair: Are there any certification programs I can take to learn how to do Credit Repair?

April 24, 2010 · Posted in Credit Repair · 2 Comments 

I would like to learn how to do credit repair. Are there any certification programs? Any suggestions would be highly appreciated. Thank you.


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    I want to repair my credit. Will paying all my debts in full help?

    April 15, 2010 · Posted in Credit Repair · 7 Comments 

    I want to repair my credit. I know this will take some time however, I have come into some money and I want to pay off everything that’s on my credit. If I do this what will happen? Will they be removed? Will my score go up? I’m clueless as to what will happen after I pay them all off. I’m only in debt by $3000.


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      Problems with Transunion, Experian, and Equifax credit bureaus

      April 15, 2010 · Posted in TransUnion Credit Report · 9 Comments 

      I was wondering why I was being denied for a credit card! Come to find out my mortgage company is reporting the correct amount each month but the 3 credit bureaus are reporting that my mortgage payment is $4500 a month! Their mistake has caused my credit score to drop!

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        How does an equifax online dispute with a creditor work?

        April 14, 2010 · Posted in Equifax Credit Report · 2 Comments 

        I’ve heard different things so make it simple for me, please. Okay, I disputed a negative item on my credit report and Equifax investigated it. If the company that filed a negative report doesn’t get back within a certain amount of time to confirm the debt, is it erased? Or after a certain amount of months, could I dispute again and see if they make the deadline? Please clarify this for me, if you can.


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