A credit score is a number generated by a mathematical formula that is meant to predict credit worthiness.

Credit scores range from 300-850.  The higher your score is, the more likely you are to get a loan.  The lower your score is, the less likely you are to get a loan.

If you have a low credit score and you do manage to get approved for credit then your interest rate will be much higher than someone who had a good credit score and borrowed money.  Basically, having a high credit score can save many thousands of dollars over the life of your mortgage, auto loan, or credit card

800 - 850 (Exceptional).  This is almost always an auto-approve.  Additionally, the APR (Annual Percentage Rate) on your credit cards will be the lowest possible. You’ll be treated as royalty.  Achieving this excellent credit rating not only requires financial knowledge and discipline and, but also a good credit history.  This requires constant credit usage and timely payments.

740 – 799 (Very Good).  Only 27% of the United States population belongs to this credit score range. With this credit score range you will enjoy good rates and approved for nearly any type of credit loan or personal loan, whether secured or unsecured.

670 - 739 (Good).  This range can still earn competitive interest rates, they are unlikely to command the ideal rates of those in the two higher categories, and it may be harder for them to qualify for some types of credit.  If you’re thinking about a long term loan such as a mortgage, try INCREASING your credit score higher than 720 to benefit from significantly lower interest rates.

Under 580 (Poor).  With a poor credit rating you can still get an UNSECURED personal loan and even a mortgage, but, the terms and interest rates won’t be very appealing. You’ll be required to pay more over a longer period of time because of the high interest rates.

500 – 579 (Bad).  With a score in this range you can get a loan but nothing even close to what you expect it to be.  Some people with bad credit apply for loans to consolidate debt in search for a fresh start.  However, if you decide to do that then proceed cautiously.  With a 500 credit score you need to make sure that you don’t default on payments or you’ll be making your situation worse and might head towards bankruptcy, which is not what you want.  Word of advice:  seek professional assistance.

Do you pay your bills on time?  Payment history is a major factor in credit scoring. If you have paid bills late, have collections, or declared bankruptcy, these events will not reflect well in your credit score.

Have you applied for credit recently?  If you have many recent inquires this can be construed as being negative by the credit reporting agencies. Only apply for credit when you really want it.

What is your outstanding debt?  It is important that you are not using all of your available credit. If all of your credit cards are maxed out, your scores will reflect that you are not managing your debt wisely.

1.  If you are denied credit, the Equal Credit Opportunity Act requires the creditor to give you a notice specifying the reasons your application was rejected.  You are also eligible to REQUEST for this information within a 60-day period. 

Indefinite and vague reasons for denial are illegal, so ask the creditor to be specific. 

Acceptable reasons include:

  • “You haven’t been employed long enough.”

Unacceptable reasons include:

2.  If you are denied credit because you've almost breached your credit limits or you have too many credit card accounts, pay your balances or close some accounts.  After that, re-apply.

3.  If are denied credit, ask the creditor WHAT credit scoring system was used and how to improve your application.  If you are approved but did NOT get the rate/ terms you want, ask the credit to explain. *

*Note that if any unsatisfactory rates/ terms due to inaccuracies in your credit report can be resolved by legally disputing these items.

Yes, It's important to note that credit repair is legal in all 50 states.

The Fair Credit Reporting Act (FCRA) is a law that guarantees consumers the right to dispute information in their credit report to have it corrected.

The Credit Repair Organizations Act (CROA) is another law that outlines how credit repair companies can provide services to consumers.

We also have positive history of disputing items on over 50 consumer credit reporting agencies.

Best of all, you get results within 3 - 6 months, with some clients accumulating as much as 50 points on the first month alone! *

*Results may vary depending on your actual credit standing, current financial state and other credit challenges.