What Can Be Done To Improve My Score??

Potential Homebuyers ask us everyday, "How can I improve my credit score???" There's not a simple answer, because every credit history (and score attached to that history) is like a snowflake. There are some concepts that are important to understand about Credit Scores and improving that score. Late Payments Showing on Report: If your … [Read more...]

Secured Credit Cards

Trulia recently did a a study of first time home buyers and discovered that about 30% of the people they interviewed pretty equally fell into one of these categories: Wanted to Buy a home but they worried about down payment.  (If that's you - no worries, there are tons of No Money Down Home Loans!) Wanted to Buy a home but they worried that … [Read more...]

Closing a Credit Card??

If your trying to decide what to do with all that cash Washington is sending you in the next few weeks... you might also be looking at your credit report to see how to use that money more effectively. In today's environment we don't usually suggest that folks close credit cards with no balance, but if that's a decision you've made, here are some … [Read more...]

Inquiries and Credit Scores

Does the TYPE of Inquiry on your credit report Matter? "Above the Line Inquiry" has an impact and the Below the Line - soft inquiry... does not.  The account review is below the line, where a creditor is just doing a check.  The folks who do an employment pull are also below the line. When you apply for a credit card, mortgage, car, etc - those … [Read more...]

What does Rapid Rescore Mean?

Rapid Rescore is just what it sounds like... let's say our credit model shows that if you pay a credit card down to $300 your score will go up 20 points. Well, once you have evidence that you've made the payment - you send us the documentation, and we get the scores updated! That's the good news... here's the BAD NEWS (sorta): It takes almost 10 … [Read more...]

Different Types of Credit Cards That Build and Establish Credit

There are different types of Credit Cards available to help you build your credit and your credit score.  In general, you need at least 4 tradelines to be able to purchase a home, although USDA Home loans will occasionally allow you to purchase with less than three - provided we can establish an "alternative" trade source, like your insurance, cell … [Read more...]

Inquiries On Your Credit Report

Fannie Mae recently announced that lenders are required to pull your credit hours before closing - and any inquiries on your credit report must be explained.  We figured you might want to know more about how Inquiries affect your score. An inquiry on your credit report shows up when you allow someone to look at your credit. An inquiry from … [Read more...]

Outrageous Calls from Collectors

We've talked to people who are getting OUTRAGEOUS calls from bill collectors - threatening them with all kinds of mean and nasty stuff.  One of our customers sent us this YouTube clip we thought was interesting from ABC. Let us know what YOU've heard from Bill Collectors! IF you want to improve your credit scores and get out of this cycle - call … [Read more...]

1-2 Punch Dispute Letters

So the first step in the dispute process was to write a letter regarding old addresses... Now that you have that back - the real work begins!  The next step is to look at the new reports for any old accounts with late payments on them.  Choose 3 or 4 and dispute those inaccurate items with a new letter to each credit bureau. Again, make a copy of … [Read more...]

The Top Credit Score Killers

If you are looking for ways to improve your credit scores... you definately want to avoid any of these actions: - Paying Late: Logic tells us that the best credit scores go to those who pay their bills on time.  The fact is, 35% of your credit score comes from your RECENT credit history.  Paying your bills on time for 12 months will do WONDERS for … [Read more...]