What credit score do you start with – a definitive guide
Table of Contents
This blog gives a strategy so that you can start implementing it right now to put control of your life back in your hands. Now the question is What credit score do you start with?
It does not matter so much if your score is not too poor because improving your credit score is a process and it is a daunting task, it needs a lot of time and patience. Don’t get me wrong it’s not a hard task, it’s easy but takes time. There is no such thing as a ‘starting credit score’. If you never use a credit account then you have no credit score. For your credit score to show up you need to fulfill the minimum criteria, which is
- You must have a credit account open for a minimum 6-month-old
- At least one credit account should be reported to any of the three major credit bureaus for the last six months or more
Now, if you are new then focus on building your credit score. The bank doesn’t want you to know about Credit repair tricks. They don’t like you knowing this information because they make money off bad credit loans with high fees and expensive collection actions. Credit cards for bad credit have much higher interest rates and will ultimately just make your situation worse.
So, stop letting the banks bully you into overpaying today based on mistakes you made years ago. Credit repair is an achievable goal, and that’s what we’re going to talk about today.
Take control of your credit by using these secrets the financial industry doesn’t want you to know about. They’re all legal, and we know they work based on how credit reports work. This is how to truly improve your credit score. Most Importantly avoid the common mistakes people make when attempting to rebuild their credit. Avoiding these mistakes can put you way ahead of the game.
You just start with these three steps that are explained here, click on the link to know more details.
Factors that affect your credit score
Knowing the basics of credit repair puts you way ahead of the game. Understand the components of the FICO score and what factors affect your credit score. Understand the three credit reporting agencies and their working procedure. For details of all these discuss here the top seven factors that affect your credit score.
Why did my credit score drop – understand why?
Surprisingly if you have these few habits then it can hurt your credit score very badly and You should avoid these events. Understand the details about the effects of late payments, chargeoff, and hard inquiries, and how much they can affect your credit score. The collection can be removed and it usually boosts your score. Know more about how to fix credit and remove a collection from your credit report. I already discuss all of these here why-did-my-credit-score-drop.
What is a good score and how to maintain it?
Nowadays almost all business uses the FICO system to make lending decision quick and proper. And also used to check the financial health of their customer. The credit score is the only parameter that decides your financial situation in the credit market as per the recent lending trends. Get a detailed analysis of the current credit market. Know the details of how you rate yourself and why a good credit score is one of the most important factors to get an auto loan, mortgage, room rent, etc.
Basics of credit repair
If you want to start from the basics then follow the link given below
How to Improve Your Credit Score
If you want to improve your credit score then follow the below steps, and click on the link for more details:
This step-by-step guide helps you how to take preparation before disputing any negative. Many important things like how to get your free credit report, Know various credit scoring models, and most importantly you need an itemized list of everything showing on the report. Find all major agencies ‘ dispute department contacts and sample disputing letter format that will help you throughout the process.
Find the specific list of excuses Experian accepts to dispute debts. Why and when do you force the creditor to validate the debt? Must know these strategies that will help you to win against a debt collector in court. Also, get more information about late payment negotiation.
Get the specific details on how negative information impacts your credit report, how to negotiate a debt settlement, and know these few things that you should remember when negotiating a debt settlement or cancellation.
Know the strategy that you can follow to stop collection agency harassment calls and letters. Copy this handy letter and fax, email, or mail it to any collection agency contacting you.
This is the most common and useful trick to boost your credit score that everyone knows. But many people don’t know how to use this trick that works for them. Apply all these proven strategies that I discuss here.
Master this method, and you’ll notice your score go up within a few months. Trust me, a few changes in your daily habits and spending behavior can instantly transform your life.
Credit repair loopholes, here’s what you need to know to master these explosive secrets. Find the tips and tricks that can help you clean up your credit. Know about these three sections of the FCRA to apply them.
Do you know what precautions you should take when applying for a new credit card? Find information about which card you should avoid and which one you should apply for.
Know what to do if you are sued legally. A definite step-by-step guide that helps you to search -court records and how to deal with the debt. Read to know more about it.
When and why do you do this? Is it still work? What types of credit cards are best? Find the question and answer for primary cardholders. Must read it, it will help you to build a good credit score.
Do you know that no credit check loan and cryptocurrency may help you? Read it to understand the tricks and benefits of using them. You may like it this way.
Apply this killer strategy if your complaint is not solved with Equifax or if the credit bureau does not respond in 30 days to your complaints. Also, know what to do when CFPB does not solve your problem.
Useful Knowledge base
- National consumer assistance plan
- Credit Monitoring FAQs
- Credit Repair Quiz
- Credit Repair FAQs
- Credit Repair Myths
- Glossary of credit repair terms