I PERSONALLY feel that America is now becoming more aware of their credit and that those three digits means a lot if you want to go somewhere or buy something. And if you still don't know what I am talking about, its your FICO score. Your FICO score is a three digit number that companies use to know whether or not to loan you money or give you a credit card. Say you want to get a gas card because gas is to high and it would be easier to do it this way. Shell or whoever would pull your credit report from Exquifax, TransUnion, & Experian. And by consulting these different credit bureau they would tell you "yes you have been approved or sir we are unavailable to process your account at this time you, you will receive a letter in a couple days explaining the reason" (I tell people this like everyday). So, I want to help explain a couple things that you might now know about your credit.
This Maryland based company is designed to help report information that is not normally reported to the credit bureaus. Such as rent, child support, cell phone, electric and many others. Yes, this things will appear on your report if they go to collections but this website reports on the positive of you paying it on time. Adding accounts is freeand signing up is free, but verification is a small fee. The verification process is them basically calling the person you said you paid this bill too and making sure it was paid on time. Items can be verified after 6 months. I would recommend this because it something that shows a positive in the long run.
2. Secured Credit Cards
A secured credit card is a card that helps a person re-establish credit or build credit they don't have. You basically set your own limit. The card is open through a saving account or a bank account just depending on the company you use. A lot of them start you out at $300 and you can use them towards wherever. Having the money on the card makes it secure. The best part of having the card is that FICO cannot distinguish between a secure or non-secure. A plethora of credit unions have cards you can apply for or sometimes you will be lucky and your bank will have one.
3. Get knowledge
Read up on what exactly you want to do. If you want to boost your score or rebuild your credit find books or website that give you exactly what you want to know. There are millions of books out there. I am not saying all the books are great but I would Suze Orman. She is AWESOME. Orpah has on her show for special features, but she has own show that is really helpful about different tidbits.
4. You can do this by yourself
Stop paying people to do your work there are millions of companies that say we will reduce your credit and get you smaller payments but in all acuality you can do that on your own. I know it sounds werid, but it is true. You are probably thinking then why do they have those companies. They have them because someone was smart enough to realize that some people don't like to do the hard work or that they don't want to know how far in debt they really are. Basically a percentage of that $150 dollars you are giving them every two weeks is going to your bills and the other percent is going to them. So, why waste money when you can do it yourself. Like I mention before call or write all three agenices and get your FREE report (only 1 per year). Then go find those books I mentioned above or go to your nearest BN and they will guide you in the right direction. Then break everything down and figure out what bills are what. Then write down ANYTHING that is WRONG. If you have anything that is wrong on any of the reports you need to write a dispute letter. I mean if they got a date wrong, a monetary figure, or your address.
(once you get one of those books it will tell that if credit can not prove that mark it has to be removed, hence enchencing your score). Then CALL all the creditor and see what you can do. They are more positive than you think and they are willing to work with you.
5. PAY it on time
Keep a good score and good standing with the company just pay it on time
If you have any more questions you can visit
Suze Orman or
FICO
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