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6 reasons why your credit score dropped



An airline credit card with an insane rewards program was released recently and you just have to have it. Or, the apartment of your dreams just popped up on Padmapper and you need your name on the call box, like, yesterday. So –– naturally –– you use one of your free annual credit checks through Experian,


or TransUnion

to check up on things, and suddenly you find yourself in crisis mode: why is my credit score lower than it was last time I checked?

In the life of a grown-up, there are few feelings as anxiety-inducing as the moment when you get your credit report back, only to find that it’s not nearly as high as you anticipated. But fear not: there are a variety of perfectly good reasons why your credit score has taken a hit, and in this case, knowledge is power. The more you know about how your credit score operates and what can affect in, the easier it will be to get it back up to scratch.

Here are six reasons why your credit score might have dipped:

1. You’re using too much credit

For some who have had a limited financial education, it can be hard to figure out how best to use credit. You might be a perfectly upstanding citizen who pays their bills on time every month, but it’s going to take more than that to keep your credit score low. Enter credit utilization.

While your credit limit might seem like the number not to exceed on your credit card, experts actually recommend that to minimize negative credit impact, you should only be using 30% of your credit allowance. That means if you have a $9,000 credit limit, you should not exceed spending more than $3,000 before making a payment. This might seem a little counterintuitive, but the reality is credit restrictions like this are put in place to protect you. By spending much lower than your credit limit, you decrease your interest payments and ultimately your debt.

2. You accidentally missed a payment

Listen, it happens to everyone. Adulting is hard and sometimes, life gets in the way of life. With so many responsibilities to juggle, it’s not unusual or shameful when something falls off your priority list. If you do miss a payment, don’t panic. Consider calling the credit card company or lender to ask them to remove the fee –– especially if you’ve never missed a payment before. Then, pay the balance as soon as possible.

If automatic pay isn’t an option with your bank or lender, it might be helpful to set a calendar alert every month to remind you to pay your bill. If this wasn’t simply an accident and you purposefully let the bill fall by the wayside due to constricted funds, consider talking to a credit repair agent to discuss your options.

3. You cleaned house on your old credit accounts

Especially if you’ve had good enough credit to open an elite credit card with an excellent rewards program, it makes sense that some of your very first credit accounts are collecting dust. It might seem financially responsible to clean house financially and close some of your older or neglected credit accounts, but consider this: your oldest accounts are also your greatest and longest source of credit history. If you close them, the pool of information that dictates your credit score will shrink, making you more vulnerable to credit report dings.

Don’t miss: Your browser history could decide your credit score

Instead of closing your old accounts, it might make sense to use them sparingly to your advantage. For example, maybe you only use one card when you fill up your car’s gas tank, and then pay it off right away. This kind of calculated credit maintenance will only help your credit score. Just don’t forget to pay the bill!

4. You paid off a big loan

You finally did it: you paid off that nagging, horrible student/car/home loan, and what do you get for it? A reduction in your credit score. So what gives?

The reason paying off a loan can affect your credit is because it decreases the diversity of your credit in the eyes of lenders. This is similar to what happens when you close old accounts: when the number of credit resources decreases, your credit imperfections –– like missing a payment or two, or going over 30% on your credit utilization –– become more visible.

While this might be frustrating, rest assured that the impact of paying off a loan will not have the same kind of enormity that other items on the list will. Paying off a loan is a major win, and should be celebrated accordingly.

5. You applied for a loan or a credit card

When you apply for any kind of credit, the lending institution will run what’s called a “hard inquiry” or “hard pull”, which is a formal credit check that requires your approval. This check is intended to give lenders an opportunity to evaluate your reliability as a borrower, and sometimes will take a few points off your score.

See: More people are now checking their credit scores—here’s why that pays

While a few points here and there won’t ultimately impact your credit score, repeated attempts to secure new means of credit –– like persistently applying for credit cards that are out of your credit league –– will. Lenders think that you’re desperate for credit, which isn’t a good look for you, or your credit history.

Make sure that when you are researching credit cards, you keep in mind your personal financial history, credit score, and payment reliability, so you can select and apply for a card that makes sense for you.

6. A derogatory mark was added to your report

If you’ve recently gone through a bankruptcy, foreclosure, or even a civil judgment, it probably isn’t a surprise to you that your credit has been impacted. Any abrupt changes to your credit can seriously affect the number that shows on your credit report. Unfortunately, unlike the scenarios listed in previous points, these derogatory marks are the result of what lenders consider major delinquencies –– in other words, significant implications about your ability to manage your finances.

Read: 5 tricks you can use to improve your credit score

If a derogatory mark is added to your credit report, it’s important to get assistance as soon as possible. A credit repair professional can help you filter through the overwhelming information and requirements to find a solution that works best for your unique situation. If you do see a derogatory mark on your credit score that you don’t recognize, follow up.

If after careful review you can’t find a pragmatic reason for your dwindling credit score, it may be time to consult professional advice, such as a credit repair company.

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Credit Repair Companies

Nevada AG Ford warns of deceptive insurance plans, credit repair scams | Local



LAS VEGAS (FOX5) — Nevada Attorney General Aaron D. Ford is warning of two ongoing scams targeted at struggling people during the COVID-19 pandemic.

Ford’s office said recently, Nevadans have been targeted by deceptive discount insurance plans and fraudulent credit repair companies.


According to AG Ford, Nevadans should be on the look out for deceptive telemarketers and websites touting cheap medical insurance plans. Ford said some of these entities falsely claim that they are Affordable Care Act (ACA) compliant. Sometimes, the companies have misleading websites that appear legitimate or have similar names to legitimate insurance companies.

“When shopping for insurance, stick to the Nevada Health Link website as your first stop,” Ford said in a statement. “These fake websites are intentionally confusing, leaving consumers who fall for them with unpaid medical bills.”

If you receive an unsolicited call from a health insurance company, don’t provide any personal information over the phone. Consumers are encouraged to research different insurance plans online. You can also verify an insurance company through the Division of Insurance.


Ford’s office also warned that while many credit repair companies can get your credit back on track, some companies may not be entirely legitimate.

If you want to hire a credit repair company, the Attorney General’s Bureau of Consumer Protection offered the following tips for spotting a scam. Be on alert if a company:

  • Asks you to pay all fees up front before it does any work on your behalf. Some companies may charge a one-time fee ranging from $15-$200 to set up the account. However, no credit repair organization may charge a consumer any money before the service is fully performed;
  • Instructs you to dispute information on your credit report that you know is accurate. With your legal consent, the company may challenge and clean up any inaccurate items with the three major credit bureaus or directly with the creditors. If a company tells you to say you have been the victim of identity theft when you have not, this is illegal;
  • Promises to remove all negative information from your credit report. Credit repair takes time and not every negative item can be removed; and
  • Doesn’t explain your legal rights when they tell you about their services. Legitimate credit repair companies should include a copy of the Consumer Credit File Rights. Additionally, you have the right to cancel any services without incurring any penalties within three business days.

If you believe you’ve been victimized by any crime related to the COVID-19 pandemic, you can file a complaint to the AG’s office and the National Center for Disaster (NCDF) hotline at 1-866-720-5721 or by emailing the NCFD at [email protected].

Copyright 2021 KVVU (KVVU Broadcasting Corporation). All rights reserved.

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Credit Repair Companies

Tyler “The Debt Crusher” Hoffman Expertly Fixes Customers’ Credit Problems with Sheer Success



Tyler "The Debt Crusher" Hoffman Expertly Fixes Customers' Credit Problems with Sheer Success

The credit repair industry has seen a lot of growth throughout the years. The service has become a necessity for struggling Americans who can’t seem to refine their FICO scores and leverage them toward bettering their finances. Fortunately, Tyler Hoffman is disrupting the credit repair industry and crushing debt no matter where he may be. Earning himself the appropriate moniker of “The Debt Crusher,” Tyler sought to establish his own full-service financial solutions company aptly called The Debt Crushers.

As his name implies, Tyler “The Debt Crusher” Hoffman is no stranger to success in the credit repair industry. Born and raised in San Francisco, he has always been a standout athlete in both basketball and golf. He was so skilled at his craft that he even landed a golf scholarship in Hawaii. He pursued a career in golf and eventually turned professional and played on various mini-tours.

After falling short on making it to the big stage, Tyler Hoffman turned to his second passion: sales. Throughout his newfound career in sales, he became a top-producing salesman for Honda of America. It was at this point in his career that he realized the number of customers who were being turned down due to credit issues. At first, Tyler would take all of it in stride until one fateful day that changed his entire perspective on the matter.

One day, a family asked to be serviced after the husband was killed in a car accident. The unfortunate incident left the wife to care for the lives of her two young children. The wife asked what she could do, but considering the fact that the accident left the car in horrible shape, a replacement would be impossible. Not to mention, she had a horrible credit score, and there was no way that she would qualify. Since that day, Tyler Hoffman vowed to help other people improve their credit scores fast.

With his earnings from working in the automotive industry, Tyler gained the tools and resources to build a world-class credit repair company. Thus, The Debt Crushers name was born and resonated within the industry with every successful feat that Tyler and his team would deliver. 

After years of trial and error, Tyler Hoffman has managed to fine-tune the most aggressive credit repair strategy in the entire industry. It is this strategy that The Debt Crushers successfully adopts for each and every client that they serve. In the near future, Tyler hopes to scale his brand into a household name that is known all across the United States.

The Debt Crushers’ main goal is to assist people with their financial issues and prepare them for the American dream of success and financial freedom. It’s clear to see that their goal is more than just a pipe dream as the company reaches new heights with each successful repair. 

To know more about Tyler Hoffman and his massively successful company, The Debt Crushers, make sure to check out its official website.

Media Contact
Company Name: The Debt Crushers
Contact Person: Tyler Hoffman
Email: Send Email
Phone: 888 403 3282
Country: United States

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Credit Repair Companies

Free credit repair and score boost consultation with an expert team at Intel credit consultants



Intel credit consultants are offering free credit repair consultation where those in need of repairing their credit status and boosting their score can call or visit their offices.

Intel Credit Consultants is offering free credit repair consultation at a time that many are struggling with financial difficulties occasioned by the pandemic. While making this announcement, Intel credit consultants said people in need of credit repair and score boosting can enjoy a free consultation with their expert team and come up with ways through which client’s credit issues can be solved. “As credit repair and score boost experts who have been in the industry for long, we have what it takes to help people improve their credit listing especially at a time when a majority of people have lost their jobs and other income streams,” said the company representative. 

Intel Credit Consultants have their head office address based in Michigan but they serve clients from all over United States. Those who are located out of Michigan can access assistance by calling their phone number which is available on their web pages. Similar assistance can also be sought through email: [email protected]. There is also a consultation booking form where a client is required to provide details such as name, email, phone number, and brief information on the kind of assistance one would require. Intel Credit Consultant representative says upon receipt of the booking information a specialist will within a reasonably short time get in touch through the email provided in the form. Intel Credit Consultant is known for the quick response and also tangible results within a relatively short period. “For a client who is looking for credit repair and a score boost, positive results can be seen within less than six weeks,” said the representative while encouraging those who need credit score to get in touch with the credit repair firm.

Besides providing credit repair consultancy, the company also has prepared step-by-step information that clients can use to guide them on how to repair and build credit. Some of the benefits that clients get out of the credit repair consultancy to include tangible results and a chance to access loans and mortgages at relatively low interests.

For more information visit:

About Intel credit consultants

Intel credit consultants is a Detroit Michigan based credit repair and score boosting company drawing clients all over the United States. The credit consultancy provides credit repair services allowing its clients to enjoy the benefits that come with good credit score and positive listing. The credit repair company has over the years grown to be trusted for its reliability and quality services. Intel credit consultants pride themselves for putting client’s needs first and making sure they are well informed on every credit decision they make. They aim at boosting their customers’ credit channels instilling confidence that allows them to access funds that can improve their lives. Through their affordable and quality credit repair services, the consultants help their clients save time, money and grow financially.

Media Contact
Company Name: Intel Credit Consultants
Contact Person: Media Relations
Email: Send Email
Phone: 866.990.7175
Country: United States

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