IMPROVE CREDIT SCORE
It is very important to check & dispute your 3 credit reports to improve your 3 credit scores. All creditor deal with one of the three credit report agencies. This is the first rule of credit when you want to check or dispute your credit reports. Besides, you must understand all the rules if you desire to improve your credit scores at best ! You find finally a lot of information to understand the features of credit report to higher your credit score.
Useless to say you will save a lot of $$$$ when you update your credit reports and monitor your credit score !
How much money you save to increase FICO credit Score? (Auto & House)
1—First step to improve your credit score !
A—Claim your 3 FREE Annual Credit Reports rapid & easy with 3 FICO credit scores.
If you don't waste your time ! FICO: 90% top lenders use, but with minimal cost !
Claim FREE credit reports Here !
B—You could claim just one free FICO Score with Experian.
You must give some information to Experian but you will have only one credit report & score.
2-How to improve your credit score ?
—Money saving, financial freedom start with credit score !
—Monitor your credit score is a good habit moreover it don’t affect your score, but you need your credit score to fix credit !
(Here is FICO Score Range : 90% top lenders use !)
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800-850 = Exceptional
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740-799 = Very Good
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670-739 = Good…………..
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580–669 = Fair
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300-579 = Very poor
A-(DIY)___Only Good Credit score !
> 680, 690, 700, 720… You could improve your score by yourself (DIY).
This one takes time and effort !
Do IT Yourself NOW !
B-ASAP Credit Expert : FAIR/POOR Credit !
Whether you get your FICO credit score :
Fair, Poor, Very Poor, Low, Bad …….
Your score are: ..……< 680, 650, 640, 630, 620, 610, 600, 590, 580 or worst….
***Don’t be afraid !!!! You can remedy…
But you need a CREDIT EXPERT !
3-What items greatly affect your FICO Credit Score?
Lenders consider you more of a financial risk and some may even reject you outright.
Possibly you drag one of these Negatives Items on your Credit Reports, these factors lower your Credit Score. You need to clear these negative items….
NEGATIVE ITEMS………..SCORE DECREASE
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Bankruptcy……………….150 to 240 Points
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Foreclosure……………….100 to 160 Points
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Eviction……………………....100 to 160 Points
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Repossession…………...100 to 120 Points
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Charge-Off………………...100 to 120 Points
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Short Sale…………………....80 to 120 Points
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Judgment…………………...80 to 120 Points
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Debt Settlement ……..80 to 120 Points
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Late Payments…………..60 to 120 Points {30 D, 60, 90….)
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Collections ……….………...60 to 110 Points
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Tax Liens…………………......Up to 100 Points
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Hard inquiry……………….Up to 15 Points
13. Incorrect balance…………………....45 points
14. Incorrect credit limit………………45 points
N.B. : According to FICO’s published Damage Points guidelines,
the effects range from 130 to a 240 point drop.
For example:
A person with a 680 credit score would drop between 130 and 150 points.
A person with a 780 credit score would drop between 220 and 240 points.
4-How Credit Scores are calculated? FICO & VantageScore!
FICO Credit Scores calculated in 5 categories :
Payment history : ………………….............35%
Amounts owed : ………………….............30%
Length of credit history: …………….....15%
New credit :…………………………...................10%
Credit mix:……………………………...................10%
VantageScore calculated in 6 categories:
Payment history:………………………...........40%
Age and type of credit :……………….......21%
Credit utilization:………………………............20%
Credit balances:………………………...............11%
Recent credit :………………………….................5%
Available credit :………………………................3%
5—The ways to improve & revamp your score !
1—Review your 3 credit reports & scores yearly !!
2—Disputing credit report errors can help you improve quickly your credit score.
For example: A good impact If a creditor reporting that you missed a payment when you didn’t.
3—Pay bills on time: One of the biggest things that affect your credit score is your history of missed, late payments. We can ever say it enough. Change your bad habits & the best for you to come.
4—Budget wisely: Today is easy to schedule with all software packages & hardware products, you have any reasons to miss the boat.
5—Check your account online: There’s no reason to wait for the bills to come in the mail !
6—Monitor your credit: View your own credit is a soft inquiries which doesn’t affect your credit moreover when you monitor your credit score can help you understand to manage for any change.
7—Credit utilization/Credit limit: < 30% MAX : Highest 30%, practice that can indicate risk.
****The road to credit recovering is a marathon, not a sprint, which means building or rebuilding your credit isn’t a quick process and can take different months for different scores.
6—How long to improve your credit score ?
—All depend on if you're building or rebuilding your credit. If you have a score (-500, 600,700).
—Bumping your bad credit score to a good credit score won’t just happen overnight. But if you keep at your credit repair, the result could surprise you.
All depend on your credit score you can take 3 to 6 months to higher your Score, but it’s worth it.
SHARE with your parents and Friends!