The Good, the Bad, the Ugly of Credit
Do you have good credit, bad credit or no credit at all? Every one of us fits into one of these categories. Whichever one you fall under, an expert credit consultant can help you. They specialize in educating every individual for their own personal credit needs. Phoenix Credit Repair has the best credit consultants in the industry and comes highly recommended.
Even if your credit score is already good, meaning your credit score is above 740, consulting with a credit consultant still might be a wise choice. The credit consultant will look at your credit report and check for any negative or inaccurate information such as a late payment or duplicate accounts. Credit bureaus make mistakes too. They might not be showing your correct credit limits or they might not have removed an old medical bill that was paid years ago. The credit repair consultant can tackle and correct these issues for you. They will handle and process all the necessary paperwork to get these items successfully removed from your credit report, which will raise your credit score a bit.
If you have a credit score below 740 but above 650, you most likely can benefit from hiring a credit repair consulting firm for your credit needs. If your credit score is 650-740, that is still a pretty good credit score but there is always room for improvement. The credit consultant would run your credit report and identify any negative information that the credit bureaus might be reporting. Credit consultants can also remove inquiries on your credit report. Every time someone pulls or runs your credit report, it drops your credit score, sometimes it might drop it as much as 15 points. You yourself are entitled to one free credit report from all three of the credit bureaus once a year.
If your credit score is below 650, there is no doubt that you would benefit from working with a credit repair consulting firm. They will identify all the negative items on your report and advise you on what actions should be taken next. You could have quite a few of credit inquiries that you never authorized, or you could have duplicate accounts on two of the three credit bureaus, or perhaps you have an old bankruptcy on your credit report that needs to be removed. Whatever your needs are, your credit consultant can guide you through it all as well as process all the necessary paperwork to mail to the credit bureaus.
Now, what if you do not have any credit at all? What are the best options to establish some credit and keep it on the right track? Some credit consulting firms may suggest getting approved for a secure credit card. The downfall to most secured credit cards is obvious. It is a secured credit card, that means you have to put your money up front, usually, the amount of your credit card limit along with an activation fee of $50 or more to use and spend your own money. It will in turn report to the credit bureaus every month and you will start to slowly establish a little bit of credit.
There is another way to do all the same things but with more benefits. When you choose a credit consulting firm, make sure that they offer tradelines as well. Tradelines are a very inexpensive way to invest in your credit. Tradelines are seasoned accounts that you can be added to for short-term and long-term benefits on your credit report. For someone with no credit, purchasing a seasoned account or tradeline will set you on the right healthy credit path. Rather it be an account that has a long payment history with a very high credit limit or maybe it is a tradeline that is intended to just get you on the map to get you approved for a low-interest rate auto loan, your credit consultant can help you figure it all out and come up with a strategy that will benefit you for years to come.