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The 6 Best Credit Repair Companies of June 2021

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Improving a poor credit score or fixing credit reporting errors can be a time-consuming process. Credit repair companies can take that load off your mind, but you need to know your legal rights and what services to look for.

To choose the best provider for your needs, check out Money’s 6 top credit repair companies of 2021 below.

Our Top Picks for Best Credit Repair Companies

  • Credit Saint – Best Overall
  • Sky Blue Credit – Best for Budget
  • Ovation Credit Repair – Best for Discounts
  • The Credit Pros – Best Bonus Features
  • The Credit People – Best Bonus Features
  • Lexington Law – Best for Legal Expertise

Best Credit Repair Reviews

Credit Saint – Best Overall

Monthly fee: $79.99 – $119.99

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ProsCons
90-day money-back guaranteeLimited availability
Options for every budgetFirst work fees between $99-$195
Clear pricing policiesNo online chat
Online sign-up available

Credit Saint earns best overall because of its clear pricing policies and package options at different budget levels, which will vary in aggressiveness from 5 disputed claims a month to an unlimited amount with the premium plan.

Credit Saint offers a free consultation to evaluate your credit scores and identify the next steps you should take. Once you subscribe to Credit Saint, the company assigns a specialized advisory team to monitor your case and send disputes to all three credit bureaus, schedule calls periodically to keep you informed, and answer any questions you may have.

You can cancel services at any time, and there’s a 90-day money-back guarantee if you don’t see any changes in your credit history after three months.

Available packages:

Credit Polish

$79.99 p/m

Credit Remodel

$99.99 p/m

Clean Slate

$119.99 p/m

$99 one-time initial work fee$99 one-time initial work fee$195 initial work fee
Dispute up to 5 items per monthly cycleDispute up to 10 items per monthUnlimited monthly disputes
Goodwill intervention letters to creditorsExperian monitoring Experian monitoring
Goodwill intervention letters to creditorsGoodwill intervention letters to creditors
Escalated information requestsEscalated information requests
Disputes for bankruptcies and repossessionsJudgment disputes

Sky Blue Credit– Best Budget Option

Monthly fee: $79 – $119

ProsCons
90-day money-back guarantee, condition-freeNo monthly credit monitoring
50% off a month for couples discountNo financial tools, such as budgeting
Repair up to 15 items every 35 daysNo free consultation prior to enrollment
Online sign-up available

Sky Blue Credit has a simple pricing model that allows you to take advantage of all its credit repair services for a flat rate of $79 a month, or $119 a month for couples (both married or unmarried partners).

Their credit repair plans include:

  • An initial analysis of disputable items
  • Identification and review of potential errors in your report
  • Disputes for 15 negative items per each 35-day cycle
  • Access to debt negotiation consultants
  • Credit score assistance and other credit score rebuilding programs
  • A condition-free 90-day-guarantee

According to the company, each credit repair process takes approximately 6 months to complete and cancellation is allowed at any time without incurring any penalties.

Ovation Credit Repair– Best for Discounts

Monthly fee: $79 – $109 per month

ProsCons
Multiple available discountsCredit monitoring only provided with Essential Plus
Cancel any timePhone-only application process
Financial management tools available with both plansNo 24/7 support
Parent company Lending Tree has a solid reputation

Ovation Credit Repair stands out when it comes to discounts. They offer a 20% couples discount, a credit of up to $50 on your next monthly payment for referring a friend or switching from another credit repair company, and discounts for seniors and members of the military.

Ovation Credit Repair offers two levels of credit repair:

Essentials Plan – $79 p/mEssentials Plus Plan – $109 p/m
$89 one-time initial work fee$89 one-time initial work fee
Free consultation with a credit expertFree consultation with a credit expert
Personalized credit dispute optionsPersonalized credit dispute options
A case advisor that will oversee the process from start to finishA case advisor that will oversee the process from start to finish
Personalized dispute optionsUnlimited dispute and goodwill letters to creditors
Personal case advisorTransUnion credit monitoring
Financial Management ToolsOfficial Ovation recommendation letter for future potential lenders

The Credit Pros– Best Bonus Features

Monthly fee: $69 – $149

ProsCons
Financial management tools and credit monitoring included with every planBasic plan only includes one credit dispute
Live chat availableUnavailable in California, Georgia, Kansas, Maine, Minnesota, Oregon, and South Carolina
Certified FICO professionalsNo 24/7 support
No setup fee

The Credit Pros credit repair package features useful financial management tools, no matter which package you purchase. Other companies offer these perks only if you select the most expensive plans.

Tools include real-time account sync, bill reminder, and a budgeting system service. Each plan has a complimentary credit monitoring solution, but The Credit Pros also offer multiple tools to track inaccurate personal finance information, from dark web monitoring to social security trace and pay-day monitoring.

The company’s free consultation is available in both English and Spanish, as well — something not common in the credit repair industry.

There are 3 packages to choose from:

Money Management

$69 p/m

Prosperity Package

$119 p/m

Success Package

$149 p/m

$119 one-time initial work fee$119 one-time initial work fee$149 one-time initial work fee
One credit dispute per monthSame features as the Money Management planSame features as the Money Management plan
Updated free credit reports every 60 daysUnlimited number of monthly credit disputesUnlimited number of monthly credit disputes
Goodwill lettersDiscounts on medicationDiscounts on medication
Debt validationNo credit lineDiscounts for National Credit Direct products
Cease and desist letters to lendersCredit line from National Credit Direct
Access to the company’s legal network
Personalized action plans with certified FICO professionals
Credit line from National Credit Direct

The Credit People – Best Guarantee

Monthly fee: $79 or $419 six month flat-rate

ProsCons
Simple pricing structureNo credit monitoring
FCRA-certified consultantsNo financial management tools
24/7 account access and online enrollment
Low one-time first work fee ($19)

The Credit People have two membership options with a clear-cut pricing structure: $79 a month or a $419 flat rate membership for a 6-month plan. What sets it apart from other credit repair companies is its satisfaction guarantee. If you are not satisfied with The Credit People’s services, you cancel at any time without paying for that month and receive a refund for the previous month’s payment.

Both memberships include the following credit repair services:

  • $19 first work fee
  • Unlimited credit disputes
  • Debt and inquiry validation
  • 6-month satisfaction guarantee for flat-rate membership
  • Creditor communication
  • Support beyond credit reports

Lexington Law– Best for Legal Expertise

Monthly Fee: $89.95 – $129.95

ProsCons
Long, proven track recordCredit monitoring only available with priciest plan
Online contact optionsFinancial management tools only available with Premier Plus plan
Employs attorneys and paralegalsPending legal action from the CFPB
Free credit report consultationNo satisfaction guarantee

Lexington Law is well-known in the credit repair industry, with years of experience and nationwide availability.

With a team of experienced attorneys, they guarantee clients an accurate credit report and will explore all the legal options to correct any mistakes. Their account reps — often paralegals — offer personalized support over extended hours, seven days a week.

The company also uses credit monitoring software and has a useful mobile app where users have 24/7 access to their credit score analysis and counseling plan.

Available credit repair packages:

Concord Standard

$89.95 p/m

Concord Premier

$109.95 p/m

Premier Plus

$129.95 p/m

Bureau challengesBureau challengesBureau challenges
Creditor interventionsCreditor interventionsCreditor interventions
InquiryAssistInquiryAssist
Score analysisScore analysis
ReportWatchReportWatch
TransUnion alertsTransUnion alerts
Cease & desist letters
FICO score tracker
Identity theft protection
Personal finance tools

Lexington Law is currently pending legal action from the Consumer Financial Protection Bureau (CFPB).

Other Companies We Considered

When we looked at the credit repair industry, we found that some credit repair services didn’t necessarily offer the best products. Here are the companies that didn’t quite meet our standards.

CreditRepair.com

What we likedThe deal breakers
Simple processZero info about their staff’s qualifications
Educational blogPending legal action from the CFPB
Unclear information on their three plans

AMB Credit Consultants

What we likedThe deal breakers
6-month money-back guaranteeExtra fee for third-party credit monitoring
Online enrollment availableHigher than average fees
Discounts for couplesExpensive one-time enrollment fee of $149
One easy-to-understand plan

Pyramid Credit Repair

What we likedThe deal breakers
50% discount for couples on their first monthMore expensive than the industry average
90-day money-back guaranteeHigher than average fees
Extended customer service hoursExpensive one-time enrollment fee of $149
No upfront feesNot available in some states
Sparse information

Pinnacle Credit Repair

What we likedThe deal breakers
Two Fast Track options for results within 15 or 60 daysFast Track tier costs between $1,500 and $2,500
Fast Track Elite option gives access to personal credit mentorHigh first-work fee of $199
Connects account members to their network of lending partnersNo free consultation available
Limited information on the website

Creditfirm.net

What we likedThe deal breakers
Low monthly fee of $49.99Monthly credit monitoring not available
Cancel any timeNo guarantee
Unlimited disputes to creditorsNo debt settlement services
24/7 serviceOutdated website makes it hard to navigate
Customers must send in credit reports themselves

Credit Assistance Network

What we likedThe deal breakers
Cancel anytimeHigh first work fee of $179 per individual, and $279 per couple
No flat monthly payment, as you pay for concrete resultsComplicated pay structure charges fees for each deletion
Issues cease and desist letters to collection agenciesNo monitoring
Contradictory and false information on its website
Unsecured website

Credit Glory

What we likedThe deal breakers
24/7 customer supportHigh first-work fee of $199
Two options for victims of identity theftOnly removes negative items
90-day money-back guaranteeNo credit monitoring
Won’t pull your credit report

Credit Versio

What we likedThe deal breakers
Affordable fees start at just $19.95 per monthSmart system’s DIY process means work for the customer
Letter generator so customers can fill in their own infoNo money-back guarantee
Video lessonsNo free consultation
No credit repair consultants or live sessions

Credit Repair Guide

What You Should Know Before You Pay for a Credit Repair Company



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Credit repair takes time

It can take from three months to a year to see an improvement on your credit report.

 


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Not everything can be removed

Late or missed payments, hard inquiries, charge-offs, and debt collections can only be removed if they can be verified as inaccurate information. For steps on how to deal with negative items that cannot be removed, read our guide on how to repair bad credit.

 


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You have to do some of the legwork

You still have to provide credit repair agencies with information and evidence about your accounts.

 


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Most companies have setup fees

Most credit repair companies charge a first work fee. A first work fee is a one-time fee charged for opening the account, ranging from $15 to $200.

 


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Legitimate credit repair companies should include a copy of the Consumer Credit File Rights.

The 1970 passing of the federal Fair Credit Reporting Act (FCRA) gave consumers the right to request and access all their data in the files of consumer reporting agencies. This includes the Consumer Credit File Rights, which outlines the legal extent of your rights in the face of any credit repair company, and should be given to you before signing any agreement.

 


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You have the right to cancel any services without incurring any penalties within 3 business days.

This is in compliance with the Federal Trade Commission’s (FTC) Cooling-Off Rule.

 


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Credit repair companies can’t charge you in advance for their services.

These companies can only charge you for services they have actually fulfilled, though they may charge a first work fee upfront.

How Credit Repair Agencies Work

Each credit repair company has its own way of doing things, but most of them follow a four-step process:

1. Free Consultation

At a free consultation, the company will:

  • Walk you through the credit repair process
  • Pull up your credit report from all three bureaus
  • Determine if you’d be a good candidate for a credit repair

2. Power of Attorney and Consent

If they find inaccuracies, they will:

  • Send you a document that lists possible errors for you to evaluate
  • Send you a written contract establishing a power of attorney or another form of consent

3. Challenge Items

With your legal consent, the company proceeds to challenge and clean up the inaccurate items, through letters and phone calls. They will contact creditors and the three major credit bureaus.

Credit reporting agencies must investigate within 30 days of receiving a dispute. Once the errors are confirmed, they have to remove them from your credit profile.

4. Progress Report

The credit repair company will:

  • Track the progress and updates the status of each disputed item
  • Send progress report along with an updated copy of your credit report, so you can review the changes

Difference between credit repair, debt settlement and credit counseling

Debt settlement, credit repair and credit counseling are all in the personal finance sphere, but it’s important to note the key differences between the three services.

Debt settlement serviceCredit repair serviceCredit counseling service
For-profit serviceFor-profit serviceNon-profit, but may charge a service fee
Resolves your debt and makes a deal to pay it off at a reduced amountIdentifies and repairs mistakes on your credit reportProvides debt and money management advice, but does not renegotiate overall debt
Involves stopping debt payments until a settlement is reached.Communicates with creditors and reporting bureaus to get mistakes corrected and removed from your credit reportNegotiates payment plans with creditors to protect you from debt collectors or late fees
Will impact credit negatively for up to 7 yearsImproves credit by removing reporting mistakesImproves credit with debt management plans
Hurts chances of getting loans or credit cardsIncreases the possibility of being approved for loans and credit cardsIncreases the possibility of being approved for loans and credit cards
Best as a last resortBest for people who don’t have the time to repair their credit themselvesBest if you’re having trouble making payments and need some help

If you’re interested in using a credit counselor, The National Foundation for Credit Counseling offers low-cost debt counseling, debt consolidation, and debt management plans.

DIY Credit Repair

Credit repair companies come in handy if you can afford the service and don’t have the time to dispute the items, but if you’d rather save the money, you can remove items from your credit report, for free. Note that while contesting errors on your report will help your bad credit, it won’t automatically get you good credit.

How to choose the right credit repair company

Look for Credit Repair Organizations Act (CROA) compliance

CROA establishes clear directives that legitimate credit repair companies must follow. Make sure the company you select is compliant in every step of the process.

Companies must provide a written contract explaining in detail the services they will provide, how long it will take to help you, guarantees, and the total credit repair cost for their services.

You have the right to walk away without penalty if the contract does not satisfy your requirements.

Research customer reviews

Sources like Google Reviews, Better Business Bureau (BBB) and Yelp are a useful starting point to gauge customer experience.

We advise you to complement your findings with further research.Some platforms charge fees in order to feature the companies and reviews are generally not verified or authenticated.

Our picks for the best credit repair companies have all received positive customer experience feedback.

Compare fees and turnaround times

Legitimate credit repair companies will list their prices and services clearly, so consumers can select the right package for their needs. Turnaround time should be reasonable and the company must keep you updated with the progress.

Look for additional features

Besides their standard credit repair services, many credit repair companies include features like financial tools, guidance and expert advice, satisfaction guarantees, credit monitoring, and identity theft protection services.

A free credit consultation can be particularly useful, because you can get a professional evaluation without committing to the service.

…) 7 Warning Signs of a Credit Repair Scam

Credit repair companies are governed by the Credit Repair Organizations Act (CROA) and the Telemarketing Sales Rule. These laws make it illegal to make certain promises or misrepresentations and require specific disclosures when offering credit repair services.

If a credit repair service does any of the following, they might be taking advantage of you:

Asks for upfront payment before doing any work for you. The CROA explicitly forbids companies to request or receive payment until they’ve completed the promised services.

Avoids or refuses to explain your rights to you or asks you to waive those rights. Credit repair companies are required to give you a copy of the Consumer Credit File Rights Under State and Federal Law and a copy of the contract to view before signing. Luckily, the CROA automatically voids any waiver of rights.

Promises to remove ALL negative information from your credit report. While a credit repair company can remove incorrect information from your report, they can’t legally take off negative data if it’s accurate.

Tells you to give false information or dispute accurate information. Some scammers advise clients to claim they’ve been the victim of identity theft to get negative items taken off — even if no such thing occurred. This is illegal and could land you in serious trouble.

Tells you not to contact the three credit reporting bureaus. Everybody’s entitled to one free credit report a year from each of the credit reporting companies.

Promises a new credit identity or asks you to create one. Some shady services give you a nine-digit identification number they call a CPN (credit profile or credit privacy number). Another tactic is asking you to apply for an Employer Identification Number from the IRS. Sometimes they’ll even illegally sell you a new Social Security Number, often stolen from children. They then ask you to apply for credit using these new numbers. This is illegal and a scam.

The contract is missing key information, such as the fees charged, a breakdown of the services to be provided, the time period in which said services will be provided, the company’s name and business address, or a section in the contract notifying your right to cancel it within three days of signing.


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Covid-19 and Credit Repair

CARES Act protections

You can obtain an extension and a forbearance of 180 days. These protections are valid until June 30, 2021.

Forbearance, payment deferrals or pauses will not show up on your credit report and will not bring down your credit score. This applies to suspended collections and defaults as well.

Homeowners with federally backed loans ( HUD, FHA, VA, USDA, Fannie Mae and Freddie Mac) are protected from foreclosure and can apply for mortgage forbearance.

Student loans are eligible for suspensions on loan payments, collections, defaults and interest rates are set to zero until at least September 30, 2021.

Free credit reports

Experian, TransUnion, and Equifax are offering access to a free credit report weekly through April 2021. Take advantage now to check your reports for errors and, if there are any, consider hiring services of a credit repair company to fix them.

Credit reporting errors during COVID-19

Reporting mistakes happen and deferred payments due to COVID-19 can still show up as “late payments” on your credit report, so it is important to check your report regularly. If you notice any errors, contact your lender right away. If it is not corrected, contact the credit reporting agencies to begin a dispute process.

Credit Repair FAQs

What is a credit repair agency?

A credit repair company, also called a credit restoration company, specializes in finding and disputing mistakes on your credit report. Additional services may include financial tools, credit monitoring and expert credit advice.

Are credit repair companies a scam?

Credit repair companies are legal. The Credit Repair Organizations Act (CROA) and the Fair Credit Reporting Act (FCRA) were created to provide consumer protection against companies that lie about their services.

How to fix your credit?

You can definitely DIY your credit repair, but it will take time, effort and patience. You can dispute negative information with the lender, and if that does not work, write letters of dispute directly to the reporting agencies. They are legally obligated to investigate and respond, at no charge to you.

How can I verify a credit repair company?

Be well informed on what credit repair companies must comply with. Reading the Credit Repair Organization Act (CROA) and the Fair Credit Reporting Act (FCRA) beforehand can help.

Research company reviews online, customer complaints on CFPB’s database and look up any recent FTC violations.

Is credit repair worth the cost?

Most people can manage their credit repair for free with a bit of time and effort. However, if you don’t have the time to dispute credit issues and can afford to pay for the service, it may be worth it. Victims of identity theft or people with multiple reporting errors can also benefit. Credit repair agencies offer a variety of packages at different prices to fit the needs of their customers.

How We Chose The Best Credit Repair Companies of 2021

Trustworthiness

The companies in our list of the best credit repair services have been around for over ten years and have a strong reputation and positive customer reviews across different platforms. We looked for any history of FTC violations and searched the Consumer Financial Protection Bureau Database to verify any history of customer complaints or enforcement actions.

Product offering

A credit repair service essentially assumes responsibility for writing dispute letters, communicating with lenders and credit bureaus and ensuring removal of each item. It helps if the standard service is complemented with other features. Multiple pricing options, additional financial tools, expert advice and service guarantees helped companies stand out from the competition.

Summary of Money’s Best Credit Repair Companies of May 2021

© Copyright 2020 Ad Practitioners, LLC. All Rights Reserved.

This article originally appeared on Money.com and may contain affiliate links for which Money receives compensation. Opinions expressed in this article are the author’s alone, not those of a third-party entity, and have not been reviewed, approved, or otherwise endorsed. Offers may be subject to change without notice. For more information, read Money’s full disclaimer.

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Can you get a better rate even with bad credit?

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If you would like to refinance your current home loan but lack the credit score to snag a low rate, this article is for you. Here, we’ll suggest ways you can improve your current interest rate, even if your credit is less than perfect.

Can you refinance your mortgage with bad credit?

The short answer is maybe. It’s certainly not out of the question. If you’re looking for a conventional refinance, you’ll likely need a credit score of 620 or higher. Don’t let that discourage you if you’re not quite there, though. A mortgage lender will also consider factors like how much you earn and your cash reserves (to determine whether you can cover financial emergencies). Even if your credit score is low, a lender may be willing to take the risk as long as other aspects of your application are strong.

But first, you need to know where to start.

Speak with your current lender

Let your current lender know that you’d like to refinance and find out if it offers options that will work for you. The best thing about working with your current lender is that it knows your mortgage file and can quickly determine whether you’d qualify for any of their refinance programs, even with bad credit.

Your current lender may help by changing your loan terms. For example, it may be willing to refinance your loan to a longer term. You’d end up paying more in total interest over the life of the loan if you extend it, but it will lower your payments and, hopefully, give your budget a little breathing room.

Also, if you’re still carrying private mortgage insurance (PMI) on your loan because you put less than 20% down when you purchased the property, find out how close you are to hitting the 20% equity mark. Once you have 20% equity in the property, your mortgage lender will drop PMI. Here’s how that works:

  • Get your home appraised. A home appraisal typically runs between $300 and $450. You have to pay for the appraisal, but it could take as little as two months to recoup the cost once PMI is dropped.
  • Figure out how much you still owe. Let’s say the appraisal comes in at $325,000, and you currently owe $250,000. That means you owe less than 80% of what the home is worth (giving you more than 20% equity) and are eligible to drop PMI. ($250,000 ÷ $325,000 = 0.769, or just shy of 77%).
  • Ask your lender to drop PMI. Provide your mortgage company with the appraisal and a written request to drop your PMI payments.

Seek a government-backed loan

Government-backed loans — like FHA, VA, and USDA mortgages — are designed for everyday people who may not have much cash to get into a home. Though regular mortgage lenders distribute them, these loans are backed by the U.S. government. Lenders know that if you default on the loan, the government will make them whole. Simply put, if you want to refinance but your credit score is nothing to write home about, a government-backed loan may be your best option. While these loans do have minimum credit qualifications, they are typically lower than a traditional mortgage.

FHA

If you currently have an FHA mortgage, the FHA streamline option allows you to refinance without a credit check or income verification. The catch is that your mortgage must be current. If you’re hoping to switch from a conventional loan to FHA, you’ll need to undergo the typical credit check.

VA

Loans backed by the Veterans Administration are for active and former military members and their families. Although you will likely need a credit score of at least 620 to qualify (depending on the lender), a VA Interest Rate Reduction Refinance Loan (VA IRRRL) allows you to refinance an existing VA loan as long as you’ve made at least the last 12 payments on time. (This requirement varies by lender.) Lenders may also have guidelines regarding how long you’ve held your current mortgage. Unfortunately, there is no cash-out option available with a VA IRRRL.

USDA

Home buyers with an income of up to 115% of the median income for the area where they hope to buy (or refinance) a property may be eligible for a USDA loan. The home in question must be located in an area designated as USDA eligible.

If you have a current USDA loan, their streamlined assist program lets you refinance without a credit check. You qualify as long as you’ve made the last 12 months’ worth of payments.

Add a cosigner

Though we’re putting this option out there for your consideration, convincing a cosigner to refinance a mortgage is not as simple as it sounds. Not only do you have to talk someone into taking responsibility for your mortgage if you miss payments, but some lenders want the cosigner to be on the title of the home. In addition, if your credit score is very low, a cosigner may not help. That’s because mortgage lenders use the lowest median credit score between you. No matter how high your cosigner’s credit scores are from the big three credit reporting agencies, the lender will be more interested in your median score. Let’s say your three scores are 600, 590, and 580. It’s that middle score (590) they’ll use to make a credit decision.

That said, if your median score is right on the cusp of the lender’s minimum required score, having a cosigner with excellent credit may be enough to inspire the lender to refinance your mortgage. For example, if the minimum required score is 660, and your median score is 650, you may have a shot.

There’s no credit score so low that it can’t be rehabilitated. So as you work through your refinancing options, take steps to raise your credit score. You might not be able to do it overnight, but you can do it.In the meantime, if you’re not sure where to get started, look at the best mortgage lenders for bad credit. They can point you in the right direction.

A historic opportunity to potentially save thousands on your mortgage

Offer from the Motley Fool: Chances are, interest rates won’t stay put at multi-decade lows for much longer. That’s why taking action today is crucial, whether you’re wanting to refinance and cut your mortgage payment or you’re ready to pull the trigger on a new home purchase. 

Our expert recommends this company to find a low rate – and in fact he used them himself to refi (twice!). Click here to learn more and see your rate.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY.

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Best Credit Repair Companies: Top 7 Services To Repair Credit Fast

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If you’re looking to improve your credit score or fix errors on your credit report, hiring a good credit repair company to handle the process for you is a wise decision. The best credit repair companies work on your behalf with the major credit bureaus to remove negative items that are hurting your credit score such as charge-offs, late payments, debt collections, and bankruptcies.

To help you find the best credit repair service for your needs, we’ve reviewed the top credit repair companies on factors such as effectiveness, credit repair reviews, speed of results, company reputation, and price.

If you’re ready to repair your credit and save thousands of dollars per year in interest, here are our top picks for the best credit repair companies of 2021:

The 7 Best Credit Repair Companies of 2021

#1 Credit Saint: Best Company Overall

Credit Saint is our top choice for the best credit repair company of 2021. Credit Saint has had an outstanding A+ rating at the Better Business Bureau for over 10 years and has helped thousands of customers successfully improve their credit scores.

Credit Saint starts by offering you a free consultation to go over your FICO credit score and to identify negative items that are damaging your credit. Once problem areas have been identified, Credit Saint will send challenges to all 3 credit bureaus on your behalf in an attempt to remove inaccurate information from your credit report.

Credit Saint can help remove questionable negative items such as:

  • Collections
  • Late Payments
  • Bankruptcies
  • Repossessions
  • Liens
  • Foreclosures
  • Judgements
  • Credit Inquiries

Credit Saint is one of the most aggressive credit repair companies (which is a good thing) but they understand that one size does not fit all. Credit Saint has 3 different service packages to choose from, depending on your credit repair needs.

The Credit Polish package includes challenges to the 3 major credit bureaus, free score analysis, a credit score tracker, and 5 challenges of negative items per dispute cycle.

The Credit Remodel package includes everything in the Credit Polish package but also includes inquiry targeting, on-going credit monitoring through Experian, and 10 negative item disputes per cycle.

The Clean Slate package is the most aggressive option available. It includes everything in the above packages, but also comes with sending Cease & Desist letters on your behalf as well as challenging an unlimited number of inaccurate items on your report.

Overall, Credit Saint offers the best bang for your buck among all credit repair agencies we’ve reviewed. Their A+ rating at the Better Business Bureau is the best in the credit repair industry and they also offer a 90-day money back guarantee for their services. If you want a free credit consultation to see if they can help, you can talk to one of their credit pros for free without any obligation.

  • Free Credit Consultation
  • A+ Better Business Bureau Rating For Over 10 Years
  • Online Dashboard To Monitor Progress in Real-Time
  • 3 Different Credit Repair Services To Choose From
  • 90-Day Money Back Guarantee

Click Here To Visit The Credit Saint Website For More Information

#2 Lexington Law: Most Experienced Credit Repair Specialist

Lexington Law is the most experienced credit repair company in the United States with over 10,000,000 negative items removed from their clients’ credit reports in just 2017 alone.

Lexington Law is a company with a team of paralegals and lawyers that use specific laws to protect your credit from situations that may be out of your control. This credit repair company can help you if your credit score has been negatively affected by:

  • Identity Theft
  • Divorce
  • Military Service
  • Student Debt
  • Medical Bills

Lexington Law first works by obtaining a copy of your credit reports and then analyzes them for negative items that are harming your score. Their law firm will then send disputes on your behalf to challenge inaccurate items. They’ll provide you with an online dashboard, so you’ll have access to your progress every step of the way as well as solutions that can help you repair your credit even faster.

Lexington Law provides 3 different credit repair packages to choose from, depending on your needs. Price ranges from $89.95 to $129.95.

The Concord standard service is their basic package with prices starting at $89.95 per month. This includes challenging harmful items with the 3 credit bureaus as well as your creditors.

The Concord premier package includes everything in the standard service as well as score analysis, TransUnion alerts, and removing hard inquiries. This option costs $109.95 per month and is their intermediate service.

PremierPlus is their top of the line credit repair service that includes everything in the above packages as well as cease and desist letters, FICO score tracker, identity theft protection, and a suite of personal finance tools. This is their most powerful package at a price point of $129.95 per month.

Overall, Lexington Law is one of the most experienced credit repair agencies that you’ll find. They’re a little more expensive than other credit repair companies, but their quality of work is unmatched.

  • Get Help With Late Payments, Charge Offs, Collections, Foreclosures, & More
  • Ranked #1 Credit Repair Company By Many Independent Review Sites
  • Over 56 Million Removals Since 2004
  • Over 500,000 Active Clients

Click Here To Visit The Lexington Law Website For More Information

#3 Sky Blue Credit: Top Company for Cheap Credit Repair

Sky Blue Credit is the best credit repair company if you’re looking for transparent pricing and excellent value. Rather than offering multiple credit repair options and service levels to choose from (which can be overwhelming), Sky Blue Credit offers all of its services for a flat-rate of $79 per month.

Sky Blue Credit Repair disputes 15 items on your credit report (5 items per bureau) every 35 days. This is a great value compared to credit repair companies that only dispute items every 45 to 60 days, charging you monthly fees during the process.

Once you sign up with Sky Blue Credit, you’ll be provided a detailed analysis of your credit history including any hard-to-spot errors that could be harming you. Once problems are identified, the Sky Blue credit pros will send customized disputes on your behalf. They also will send re-dispute letters if necessary, to maximize their chances of success. They also check on the statue of limitation for any debt you have as well.

Sky Blue offers their services free of charge for the first 6 days while they gather your reports and also offers an impressive 90-day money back guarantee. If you’re looking for the top credit repair services while on a budget, Sky Blue Credit is a great option to consider.

  • Clean Up Errors on Your Credit Report
  • All Services Included For One Low Monthly Rate
  • No First Work Fee and No Charge For The First 6 Days
  • 90-Day Money Back Guarantee
  • No Contracts – Cancel Service At Any Time

Click Here To Visit The Sky Blue Credit Website For More Information

#4 CreditRepair.com: Best for Free Credit Score Analysis

CreditRepair.com is one of the top credit repair companies for challenging inaccurate information on your credit report. This company has been around since 2012 and has removed over 1,800,000 harmful items from their clients’ credit reports since 2012.

When you sign up with CreditRepair.com, they’ll immediately retrieve your credit report and analyze it to find items that may be invalid, inaccurate, or misleading. They will then build you a personalized credit repair plan to not only remove negative items that are hurting your score, but also provide a strategy for rebuilding positive credit.

After thoroughly analyzing your credit reports, CreditRepair.com will begin challenging the negative items that are likely having the biggest impact on your score. They have several different methods for repairing your credit including debt validation letters and goodwill letters.

CreditRepair.com offers 3 different credit repair packages depending on your needs.

Direct – This is their entry-level package and includes up to 15 negative items challenged per month, and 3 creditor disputes per month. This plan costs $69.95, which is one of the lowest monthly fees in the credit repair industry. This plan is recommended for those with only a handful of negative items.

Standard – This package includes everything above plus cease & desist letters to creditors, quarterly credit score analysis, hard inquiry challenging, and 24/7 credit monitoring. This package is $99.95 per month.

Advanced – This is their most comprehensive credit repair plan and includes up to 19 negative item challenges per month and 6 creditor disputes per month. Additionally, you’ll also receive your monthly FICO score, ID theft protection, $1 million in identity theft insurance, and an array of personal finance tools. The advanced plan is just $119.95 per month, which is a pretty good value considering everything that’s included.

Overall, CreditRepair.com is one of the best options when it comes to credit repair. They have the top-rated credit repair app in the industry, which is available for both Android and iPhones.

  • 50% off setup fee if you sign up with a friend or family member
  • Aggressive credit repair process that gets results
  • 3 unique credit repair programs to choose from
  • Free consultation with credit score analysis
  • 15+ challenges per month

Click Here To Visit The CreditRepair.com Website For More Information

#5 The Credit Pros: Best for Fast Credit Repair

The Credit Pros is a fast-growing credit repair agency that has been in business for over 12 years and is trusted by over 200,000 clients nationwide. They maintain an A+ BBB rating and are consistently rated as one of the best credit repair services by many independent review sites.

The Credit Pros offer 3 different credit repair packages to meet the needs of all clients. Whether you’re looking for credit score monitoring or a full-fledged credit repair service, you’re likely to find a plan that meets your needs and budget.  Here are the 3 packages that are offered by The Credit Pros.

The Money Management package is their entry-level plan that starts at just $49 per month. It includes Transunion credit monitoring, identity and dark web monitoring, as well as CashRules finance manager. The CashRules finance manager offers the ability to integrate your banks, set budgets, get alerts, and easily track transactions.

The Prosperity Package is $119 per month and should fit the needs of most credit repair clients. It includes everything in the Money Management package, but also offers 3-bureau credit repair. The AI-driven credit repair process includes:

  • Cease and desist letters to collection agencies (to stop harassment)
  • Debt validation letters to creditors
  • Goodwill letters to creditors
  • Unlimited dispute letters
  • One-on-One Action Plan With a Certified FICO professional

The Success Package is $149 per month and includes everything above + a guaranteed $1,500 line of credit. With the credit line, they report directly to Experian and Transunion, so you can improve your credit scores faster.

If you’re not sure what plan is right for you or if you have questions about your credit, you can request a free, no-obligation consultation to see if they can help.

Overall, The Credit Pros is one of the best options when it comes to hiring a credit repair agency. With unlimited disputes, 24/7 access to client portals, and identity theft protection with every plan, you can’t go wrong with The Credit Pros.

  • AI-Driven Credit Repair Technology
  • Quick Credit Repair For Expedited Results
  • A+ Better Business Bureau Rating
  • Credit Monitoring Is Included At No Additional Cost
  • One-on-One Action Plan With Certified FICO Specialist
  • Monthly Plan With Unlimited Dispute Letters Available
  • Free Consultation With A Credit Repair Specialist

Click Here To Visit The Credit Pros Website For More Information

#6 The Credit People: Best Service Guarantee

The Credit People is one of the top credit repair companies of 2021. This company has been in business for over 15 years, offering both monthly pay-as-you-go and six month flat-rate service plans.

The Credit People markets itself for unbeatable customer satisfaction and has earned features in The New York Times, Wall Street Journal, and SmartMoney.

The Credit People says that it can improve your credit score by 53 to 187 points. It’s important to note that these figures are estimates because credit repair companies cannot guarantee their services. (More on this in a moment.) The company also has had nearly 1.5 million negative items removed from credit reports since 2004.

The best overall company for repair speed has an equally impressive pedigree for quality. According to The Credit People website, lenders approved 71% of its users for home loans, and 78% secured auto loans. Its average customer saw a 32% improvement in their credit score after joining.

Some of the other perks of joining The Credit People include:

  • 24/7 account access
  • Unlimited disputes
  • Debt and inquiry validation
  • FCRA certification
  • Toll-free customer support

The company charges an annual fee of $419 rather than a monthly one, making it cheaper than other credit repair services. You can try The Credit People for one week for $19 to see if you like it. The company also offers a 60-day money-back guarantee.

Click Here To Visit The Credit People Website For More Information

#7 Ovation Credit Services: Reputable Credit Fixer With Good Reviews

More than 120,000 people have already improved their credit score, thanks to Ovation Credit Services. This credit clean up company has made a name for itself with cost-effective results and outstanding customer support. Ovation Credit Services takes pride in building personal relationships with its customers and finding customized solutions to improve their credit reports.

All clients receive a free consultation during their initial appointment. The meeting gives case advisors a chance to review someone’s credit history and determine the appropriate credit cleaning services. Its site states that a quarter of people have at least one error on their credit report, and more than half have outdated information.

After you sign up to get started with Ovation Credit Services, your advisor will file disputes on your behalf. That can involve writing goodwill letters or contesting late payments with creditors. Ovation Credit works with credit reporting bureaus to make sure you have an accurate credit score.

This credit repair company has a first work fee of $89 for its basic package. After the first month, the work fees drop to $79 per month. Ovation Credit Services has a Better Business Bureau rating of A+ and a 4.3 rating on TrustPilot.

How Do Credit Repair Companies Work?

Credit repair companies start the process by helping you request a copy of your credit report with each of the three major credit reporting agencies: TransUnion, Equifax, and Experian. An experienced credit professional will then examine your credit report for negative items that could be hurting your credit score such as:

  • Late Payments
  • Bankruptcies
  • Charge-offs
  • Hard Inquiries
  • Judgements
  • Foreclosures
  • Debt Collections

After reviewing the derogatory items on your credit report, the company will start working with your creditors and the credit bureaus on your behalf.

Credit restoration services employ a variety of tactics to get harmful items removed from your credit report including:

  • Goodwill letters to your creditors
  • Requests to validate information
  • Dispute letters for inaccurate information
  • Cease-and-desist letters to stop harassment from debt collectors

Good credit help companies will also work with you to build positive credit history and provide tips to help optimize your credit score.

How We Chose The Best Credit Repair Companies

Credit Repair Reviews and Complaints

When it comes to the credit repair industry, a company’s reputation is everything. In order to find the best credit repair companies, we took a look at reviews and complaints from a variety of sources including:

  • Google reviews
  • Better Business Bureau
  • Consumer Financial Protection Bureau complaints
  • Yelp

The Better Business Bureau rates and reviews most credit repair companies, providing a letter grade between A+ and F. Just as in high school, the higher the grade, the better. The Better Business Bureau gives A+ ratings to credit repair agencies that exercise ethical business practices, and it makes good-faith efforts to resolve customer concerns. Consider it a red flag if a credit repair agency has an F rating.

First-Work Fees

For each credit repair service we reviewed, we took into consideration each company’s first-work fees. First-work fees go by many names, including advance fees, discovery fees, and setup fees. Whatever you call them, they serve the same purpose.

The Credit Repair Organization Act requires that credit repair companies do not charge for credit repair services until after work has been completed. This rule has been put in place to protect consumers against fraudulent credit repair companies that charge an exorbitant setup fee and then fail to provide the agreed-upon credit repair services.  

In order to abide by these new regulations, credit repair companies charge first-work fees. First-work fees are usually billed about 7 days after you sign up with a credit repair company and after the first-stage of work has been completed.

Credit Repair Services Offered

In order to find the best credit repair company, we took into consideration the credit repair services and packages offered. Credit repair shouldn’t be a one-size-fits-all solution. The best companies should offer a variety of credit repair options, depending on the level of service you need. 

Many credit repair companies have tiered packages that vary by the number of services included. For example, some credit fixers offer unlimited disputes per month while others offer credit monitoring or identity theft protection in their premium plans.

When evaluating the best credit repair companies, we took into consideration the following:

  • Credit repair packages offered
  • Monthly price
  • Whether credit monitoring is included
  • Number of credit disputes per month

Number of Credit Disputes Per Billing Cycle

One of the most important things you need to consider when hiring a credit fixing service is the number of monthly credit disputes included. Every time a credit repair company challenges a negative item on your credit report, it counts as a dispute. 

Some reputable credit repair companies like The Credit Pros offer unlimited disputes per billing cycle, while other companies like Sky Blue Credit offer 15 disputes every 35 days. The number of monthly credit disputes will often depend on the credit repair package you choose.

An important thing to keep in mind is that a dispute has to be filed separately for each of the three major credit bureaus. So if you have a credit reporting error on all three credit bureaus, that will count as three separate disputes. 

Additional Services

The best credit repair companies often offer additional services that help improve your financial well-being. These additional services may include credit monitoring, identity theft insurance, bill reminders, personal finance tools, credit repair software, and more.

Some credit repair companies also offer other financial services such as debt management or loan refinancing. When evaluating reputable credit repair services, we gave extra points to companies that provided credit monitoring and other financial tools.

Money-Back Guarantee

When evaluating the top credit repair services, we took into consideration the guarantee (if any) made by each company. According to the Credit Repair Organizations Act, companies aren’t allowed to guarantee results in order to acquire new clients. However, some good credit repair companies offer a money-back guarantee if results aren’t seen by a certain period of time.

For example, Credit Saint offers a money-back guarantee if they are unable to delete any questionable items from your credit report within 90 days. Other credit repair companies like AMB Credit Consultants don’t offer a money-back guarantee at all.

We believe that legitimate credit repair companies should offer a money-back guarantee if no successful disputes are made within a reasonable amount of time.

Cancellation Policy

The Credit Repair Organizations Act (CROA) requires companies to tell the truth about their products and services. That includes providing customers with a mandatory cancellation period. Consumers have the right to cancel their credit repair services for free within the first three days.

When a company charges you, it must have already delivered its promised services. This process does not work the other way. If you believe you’re the victim of a scam, you can contact the Consumer Financial Protection Bureau.

Fees and Costs

One of the biggest criteria we used when evaluating credit repair companies was their pricing structure and fees. Some legitimate credit repair companies such as Pyramid Credit Repair offer all of their services for a flat-rate of $99 per month, while other companies such as The Credit Pros offer several pricing plans depending on your needs and budget.

We evaluated each credit restoration company on the following factors:

  • First-work fees
  • Monthly fees
  • Credit repair packages offered
  • Discounts for couples

Are Credit Repair Companies Worth It?

Credit repair companies are worth it when a bad credit score is preventing you from qualifying for a loan or is causing you to pay a high interest rate. 

Although you can repair your own credit, it is a very time-consuming process. The best credit repair companies take the burden off your shoulders by handling the whole process from A-to-Z. They’ll help you gather credit reports, identify negative items, and work with your creditors on your behalf.

When you consider how many hours of time you will save and the fact that most credit repair companies only charge $79-$129 per month on average, it is definitely worth it.

How Much Does Hiring A Credit Repair Company Cost?

Most credit repair companies charge a monthly fee between $79 and $129. You may also pay a first-work fee on top of the flat monthly rate. The credit repair service usually takes several months to work but can last a year. For example, Pyramid Credit Repair charges $99 per month, which falls in line with the industry average. Pyramid Credit Repair also has a couples plan that is $198 per month.

You can buy credit repair software that cuts down the time to navigate credit reports and bureaus. Some companies have a freemium, where you can download the essential software and pay for exclusive features. Most credit repair software costs between $40 and $400, including our favorite, Turbo Score Home.

Do Legitimate Credit Repair Services Guarantee Results?

No, even the best credit repair service can’t guarantee results. Consider it a red flag if a company says that they can increase your credit score by a specific amount or achieve gains in a particular time. There are too many variables at play to make promises.

Some companies may provide you with an estimate for certain milestones. If you have minimal negative marks and a brief credit history, a company may estimate a 100-point boost in the first six months. Note that the company hasn’t promised to increase your credit score by 100 points in that time.

How To Avoid Credit Repair Scams

The federal government passed the Credit Repair Organizations Act in 1968. The statute prohibits credit repair companies from making false or misleading statements about their products or services. Any companies that offer credit repair services must provide contracts in writing and give consumers a chance to cancel the arrangement within 3 days of signing up.

Credit repair companies cannot accept payment until they finish the services. Because it takes up to six months to repair credit, you can theoretically wait that long before paying, too. Many companies such as Credit Versio use a setup fee (first work fee) and monthly payment structure to circumvent this rule.

Being a smart consumer means knowing your rights. The Fair Credit Reporting Act lets you dispute any errors for free. You do not have to pay a company for this service, though it helps to have a credit professional on your side.

Exercise skepticism if the credit companies can’t give you a straight answer or if they provide misleading information. For instance, you should avoid any credit repair companies that tell you to avoid contacting the nationwide credit monitoring bureaus. Don’t let the company misrepresent your information by creating a new identity and credit report with your Social Security Number, either. Make sure they safeguard your privacy.

How Do Credit Repair Companies Get Items Removed?

Every legitimate credit repair company has its own unique methods for repairing your credit. Here are some of the most common methods credit improvement services use to fix your credit.

Goodwill Letters To Your Creditors

Most companies in the credit repair industry use creditor goodwill letters in an attempt to remove negative items from your credit reports. Goodwill letters are essentially letters that are sent to your creditors, nicely asking them to remove negative items that they reported to the credit reporting agencies. Goodwill letters sent to your creditors don’t always work, but they work more often than you’d think.

Cease and Desist Letters To Debt Collectors

Cease and desist letters are letters sent to your creditors or a debt collection agency, requesting that they stop contacting you regarding your debt. According to the Fair Debt Collection Practices Act, if you demand a credit collection agency to stop contacting you, they must abide. Not every company offers these services, but many credit repair companies do.

Debt Validation Letters

Challenge validation letters are sent to debt collection agencies or your creditors, requesting proof that your debt is valid or within the statute of limitations. If a creditor can’t prove that your debt is valid, the debt must be removed from your credit scores.

Fix Inaccurate Information

Once you’ve signed up with the best credit repair company, you’ll be assigned a personal case advisor. They will work with you to go through your credit reports, looking for inaccurate data and questionable items that can be disputed. This is especially useful if you’ve been a victim of identity theft.

Negative Item Challenges

You have the right to dispute any questionable items on your credit reports that you disagree with.  By law, the three major credit bureaus have up to 30 days to respond to your challenge from the time they receive your dispute letter. Before you sign up with a reputable credit repair company, make sure you pay attention to how many disputes you are allowed to file per billing cycle. Some companies offer unlimited disputes, while offering a limited number of challenges per month.

Frequently Asked Questions

Who is the most aggressive credit repair company?

The most aggressive credit repair company is Credit Saint. Their Clean Slate package offers unlimited challenges to the 3 major credit bureaus, score tracker, inquiry targeting, and creditor interventions.

Is it worth paying someone to fix your credit?

Yes, it is definitely worth it to pay someone to repair your credit. Although you can dispute items on your credit report by yourself, it can be a very frustrating process, especially if you’ve never done it before. A better credit score will save you hundreds of dollars per year in lower interest.

How to fix your own credit?

You can definitely take the DIY approach to credit repair, but it will take a lot of time and patience. This process involves writing dispute letters to your creditors and the credit reporting agencies. By law, the credit bureaus are obligated to investigate your claim within 30 days.

What is a credit bureau?

A credit bureau is a company that exists for the purpose of tracking credit scores and credit history. Credit bureaus provide this information to creditors and lenders to help them make important lending decisions.

What is credit repair?

Credit repair is the process of removing negative items on a credit report that negatively impact a credit score. Credit repair is often used to dispute negative items on a credit report such as late payments, hard inquiries, and charge-offs.

Why is credit repair important?

A large number of employers look at the credit information of applicants when making hiring decisions. People with a bad credit score could potentially lose out on their dream job. Additionally, a bad credit score can result in paying more interest on personal loans and mortgages.

How to maintain a good credit score?

You can maintain a good credit score by making payments on-time, limiting the amount of credit used, establishing different types of credit, and paying off debt.

How to find the right credit repair company?

In order to find the right credit repair company for you, look for companies that are BBB accredited, offer a free consultation, include free credit reports, and have a reasonable monthly fee.

The reviews and statements published here are those of the sponsor and do not necessarily reflect the official policy, position or views of Observer.

The Best Credit Repair Companies of 2021

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How You Can Get There – Forbes Advisor

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If you want a credit score that’s well above average, aim for an 800 credit score. Although this score isn’t the highest credit score possible, it puts you in the highest credit score range available for the FICO credit scoring model. Borrowers in this credit score range typically pose the least amount of risk to lenders.

Because of this, if a lender approves you, you’ll likely have a better chance of securing the most favorable terms, such as the lowest interest rate available. Forbes Advisor will teach you what it means to have an 800 credit score, how you can get there and the benefits that come along with it.

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What Does It Mean to Have an 800 Credit Score?

When you have a credit score of 800, your score is better than a good credit score. According to the most popular VantageScore and FICO credit scoring models, it’s an excellent or exceptional credit score. As of April 2018, only 21.8% of Americans had a score that was at least 800, according to a FICO report.

To score this high, you must do an outstanding job of managing your credit. This means you likely have a long credit history, perfect payment history, a good credit mix and only use a small percentage of your total credit limit. Based on your excellent credit history and good credit habits, a lender will consider you less likely to default on a loan than applicants who have lower credit scores.

How to Get an 800 Credit Score

While there’s no guarantee your score will reach 800, applying these tips could help you improve your score.

1. Build or Rebuild Your Credit History

Since the length of your credit history accounts for 15% of your credit score, negative, minimal or no credit history can stop you from reaching an 800 credit score. To solve this problem, focus on building your credit. You can do this by taking out a credit-builder loan or applying for your first credit card.

A credit-builder loan is a personal loan that’s designed to help you add positive payment history to your credit report. Unlike a traditional personal loan, a lender doesn’t directly deposit a lump sum of money into your account. Instead, it sets aside money in a savings account or certificate of deposit account (CD), and you gain access to the funds after repaying the loan.

Using a credit card responsibly is another way to build your credit history. If you don’t qualify for or don’t want to use a traditional credit card, you can apply for a secured credit card instead. When you take out a secured card, you’ll be required to make a cash deposit that’s held in a collateral account, which is equal to your credit limit.

2. Pay Your Bills on Time

Your payment history is the most important credit score factor—it accounts for 35% of your FICO score. Because of this, you should aim to never miss a payment. If your bills become 30 days past due, your creditors can report this to the credit bureaus. Once your credit report lists a late payment, it can cause serious damage to your credit score. To avoid paying your bills late, use a spreadsheet to keep track of your due dates or enroll in autopay.

Most people who have 800 credit scores or higher pay off their balances in full each month, according to FICO.

3. Keep Your Credit Utilization Rate Low

The second most important credit score factor behind payment history is your credit utilization ratio—it accounts for 30% of your credit score. Your credit utilization ratio measures the amount of credit you use vs. your total credit limit. If your total credit limit is $10,000, aim to use no more than 30% of it—$3,000. To boost your credit score, keep your ratio closer to 0%, if possible.

4. Review Your Credit Score and Credit Reports

To keep track of your progress, monitor your credit score and credit reports. You can check your credit score for free by using a free credit scoring website. Some of these websites will even offer you recommendations on how to improve your credit score.

Since your credit score is based on the information listed on your credit reports, review them to ensure each one doesn’t contain inaccurate negative information, such as late payments or collection accounts. Even if you pay your bills on time, a credit reporting mistake can happen. You can view all three of your reports for free weekly through April 20, 2022 by visiting AnnualCreditReport.com.

If you find an error listed on one of your reports, file a dispute with each credit bureau that has it listed to remove it.

Benefits of an 800 Credit Score

A credit score of at least 800 comes with several benefits, including easier loan approvals, lower rates, better credit card offers and lower insurance premiums.

Better Loan Approval Odds

When you apply for a mortgage, personal loan or private student loan, you won’t have to worry about meeting a lender’s minimum credit score requirements with a score of 800. As long as you meet other loan requirements, such as income and debt, the lender will likely approve your application.

Lower Interest Rates

An 800 credit score will typically land you the best interest rate available if you’re approved for a loan. For example, you may qualify for a 0% financing deal on a new car or a lower mortgage or personal loan rate. This can save you thousands of dollars in interest during your lifetime.

Better Credit Card Offers

High-qualified borrowers with credit scores of at least 800 can qualify for the best 0% APR credit cards. These cards come with interest-free periods that last for up to 21 months on balance transfers and purchases. As long as you repay the balance in full before the promotional period expires, you can avoid interest payments.

Additionally, you’ll likely qualify for some of the best travel credit cards. Some of these cards come with generous travel bonuses after you reach their minimum spending requirements.

Lower Insurance Premiums

When you apply for insurance, some insurance providers factor in your credit score when calculating your insurance premium. If you live in a state that allows credit-based insurance, an 800 credit score could get you a discount on your homeowners insurance or auto insurance premiums.

For example, you may save more than $1,500 in auto insurance premiums if you have an excellent credit score versus a bad credit score (below 580), according to an auto insurance study by The Zebra.

How to Maintain an 800 Credit Score

Once you achieve an 800 credit score, your work is far from finished. Your credit score isn’t set in stone—it fluctuates based on the factors we discussed above. If you want to keep your score in the highest credit score range possible, you’ll have to continue practicing good credit habits. This means monitoring your credit score and reports often, keeping your credit utilization low and paying your bills on time.

Raise Your FICO® Score Instantly with Experian Boost™

Experian can help raise your FICO® Score based on bill payment like your phone, utilities and popular streaming services. Results may vary. See site for more details.

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