Credit Mastery
Read our latest articles!
How Credit Restoration can Help You Buy a Car
Did you know that the average cost of a new car is almost $40,000, while the average cost of a used car is about $20,000? Used or new, buying a car costs a lot of money. And considering that most Americans live paycheck to paycheck, it’s unlikely you’re going to have the savings available to pay cash. You’ll need to get an auto loan if you’re looking to upgrade your vehicle. But if you don’t have a solid credit score, you could be out of luck. Luckily, the credit restoration process can work quickly to increase your score, making it more likely…
Can Credit Repair Remove Repossessions?
Repossessions are the most challenging drawbacks that people have on their credit reports, and they are the toughest to remove. Many people have their credit score hurt by repossessions because these indicate late payment, which led to a seizure of assets. If you have an asset repossession listed on your credit report, credit repair can help you remove the listing. Here is everything you need to know about credit restoration for repossessions. What Is Credit Restoration? Credit restoration can help delete your poor credit history from the past. This process will significantly improve your credit score and give you the…
7 Common Credit Repair Myths
As we all know, our credit score is used to determine our financial reliability. Unfortunately, those who have a low credit score often have difficulty with many different prospects. This can include moving into an apartment, securing a loan, etc. Although it’s possible to fix poor credit, there are many credit repair myths out there that you need to be aware of. We’ve put together a short guide that details what you should know. Let’s dive in. 1. It Takes a Long Time to See Improvement This is one of the most common myths that people believe about credit repair. Although…
How Repairing Your Credit Can Help You Buy a House
Interested in repairing your credit so that you can buy a home? Having a good credit score is important for more than one reason. During the home buying process, your credit score helps determine not only what you’re qualified for, but other important things like your interest rate. You could save yourself thousands of dollars over the life of your mortgage with even a slightly higher score. This guide on credit restoration will explain why this is the case and how to boost your score. What Does Your Credit Score Consist of? Your credit score consists of four factors. Combined, they show lenders your…
Can Credit Repair Remove Evictions?
Are you in need of credit repair? Do you have an eviction on your credit report from a previous judgment? If so, you may have more options than you realize. Can credit repair remove evictions? The answer is yes, but only after a certain amount of time has passed. Then, you must go through a certain protocol to remove the eviction. For the best course of action, contact a credit repair company. This article will further answer how credit restoration can remove evictions. Read further to know more. The Seven-Year Rule An eviction won’t go on your credit report until your landlord…
How Does Credit Restoration Work–And Why Is It Important?
A good credit score is important to many parts of modern life, from buying a car to renting an apartment or even landing a job. Unfortunately, it’s a lot easier to hurt your credit score than it is to build a good one. Having a low credit score can hold you back. Luckily there are steps you can take to restore your credit. But how does credit restoration work? And can it actually help you? How Does Credit Restoration Work? Credit restoration is the process of going through your credit report and removing inaccurate or out-dated information. Making sure all of the information…
Can Credit Repair Remove Student Loans?
A missed or late student loan payment can be a worrisome thing to deal with. According to The U.S. Department of Education, nearly 20 percent of student loan borrowers are in default on their loans. While a lot of people deal with late or unpaid student loans the negative effects can be long-lasting. Yet, you do have an option that can help you get things back on track. That option involves working with a credit repair service. If you are looking to learn about credit restoration or how to remove student loans from your credit report this article is for you. Here…
What Exactly is a Perfect Credit Score? Plus How Can it Impact Major Life Events?
Almost 6 out of 10 Americans have a FICO credit score over 700. On the other hand, 11.1% of the population has a score under 500. This is a broad range of scores and people who have them. But what does this mean for us? Our credit scores are important numbers for our financial lives. They impact many of our major life events. Let’s take a look at the perfect credit score and exactly how it can benefit you to have a good credit score. How a Credit Score Is Calculated In the US, there are three major credit bureaus: TransUnion, Equifax,…
Why Credit Bureaus Have Different Scores
As of July 2020, the average American’s FICO credit score was 711. However, the same year, the average VantageScore was 688. This may seem like a large difference. But how does it occur? While people usually talk about their credit score as one number, the fact is it’s not. People actually have many credit scores. They can vary between each of the credit bureaus and based on other factors. We’re diving in to why this happens and how it affects your financial life. Why Is a Credit Score Important? A credit score is meant to be a measure of credit-worthiness. Creditors want…
Does Closing Credit Hurt Your Credit Score?
Having good credit can have a major impact on important aspects of your life. It can determine whether or not you receive a mortgage, an auto loan, a job, and so much more. In the modern world, having good credit is essential to living comfortably. Understanding how credit works can be confusing, though. While it’s easy enough to understand that missing payments can lead to a lower credit score, the fact that closing credit can negatively impact your score doesn’t make a lot of sense. Are you wondering how closing credit cards impacts your credit score? Let’s take a look at everything…