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As we have discussed before in a previous post about credit restoration,see my credit ratingIt considers both positive and negative information compiled on you and is the driving force behind what type of credit you are granted.  Consumers nationwide have a hard time understanding the basic principles of a credit score and as a result believe the myths that are circulating. Below is a list of five common credit score myths with an explanation of the real facts to set you on the straight and narrow.

You would have probably heard the term “credit restoration” at least once in your life. And, if you are one of the millions of Americans with a bad/poor credit score, we are sure you must be wondering if credit restoration would work for you. Here are a few myths that are busted about credit restoration.

 

If you are looking for a perfect Credit Repair company to restore your credit, then you need to know about the company very well. Firstly, remember that the top Credit Repair Companies will act as your financial coach, rather just being your service provider. The Credit Repair Companies like us will set you up for success by thoroughly understanding the credit status and guiding you through the entire process. Following are the list of questions to ask your Credit Repair Company before hiring their services.

An Inquiry is created when your credit report  is accessed by a business. With that being said. have you heard of Hard Inquiries? Soft Inquiries?

You may have heard that a hard inquiry can hurt your credit score. But you may not be sure what that means — what is a hard inquiry anyway? Hard inquiries are created when you apply for credit. They can potentially drop your credit scores, which can result in higher interest rates when you borrow. On large loan, like those for a car or home, a drop of even a few points can mean a higher interest rate. And that may mean you’ll pay more over the life of the loan.

Are you wondering how to effectively improve your credit score? Do you have no idea where to even begin? Here you will learn the basics on how to set up your credit with the right mix. 

It is very important to have open credit lines in order to establish a positive credit score. If you currently have a credit score of “N/A” or are missing scores on one or more of the three credit bureaus
  • Equifax or by phone at 1-866-349-5191
  • Experian or by phone at 1-888-397-3742
  • TransUnion or by phone at 1-800-916-8800