Frequently Asked Questions
You've got questions. We've got answers.
Credit can be a tricky subject, and while we do our best, we can only answer so many questions on one page. If you can't find what you're looking for, feel free to reach out.
What is credit?
Credit is when you receive money, a good or a service, and you agree to pay for it in the future—usually with added interest. Nowadays, we use credit to buy lots of things, from houses and cars to groceries and clothing.
If you use it responsibly, credit can be a useful tool. But if you don’t, you’ll have to face some negative consequences that will make your life harder. Learn more about credit.
What is a credit score?
Your credit score is a 3-digit number on a scale of 300 to 850 that suggests how creditworthy you are—meaning, how good you are with credit and how much you can be trusted to pay back what you borrow. Potential lenders will use this number to decide what kinds of credit cards and loans to offer you. Generally, the higher the score, the better the offers.
There are a few different types of scores, but the two best-known are your FICO Score and your VantageScore. They’re calculated based on the information that shows up on your credit report. Learn more about FICO scores and VantageScores.
What is a good credit score?
Generally speaking, there are five tiers of credit score. A good credit score is anything above 670. Learn more about what makes a good credit score.
What is a bad credit score?
Anything below 670 is considered poor or only fair credit. Learn more about bad credit.
What actions hurt my credit?
Your credit can be brought down a lot faster than it can be brought up, so it might help to review these things that can hurt your credit:
- Not paying bills on time
- Filing for bankruptcy or foreclosure
- Applying for too many credit accounts
- Carrying high balances on your credit cards
- Ignoring questionable negative items on your report
Learn more about how you can fix bad credit.
How can I improve my credit?
There are five main contributors to your credit scorepayment history, amount of debt, length of credit history, credit mix and new credit. Managing your credit wisely by paying your bills on time, paying debt down and maintaining your current accounts could improve your score.
Beyond these five factors, your credit could contain negative items that are unfair or inaccurate, which can stay on your reports for up to seven to 10 years. If you don't want to wait that long, you can try repairing your credit. Learn more about building credit online, or call CreditRepair.com at 1-855-255-0263 to get signed up today.
Why do I have more than one credit score?
We often refer to credit scores as a single number, but thats not actually the case. Each of the three credit bureaus gives you a customized credit score based on the information on your credit report, and you have a FICO® Score as well Learn more about types of credit scores.
How high can my score go? How low?
Credit scores range from 300 850. Learn more about credit score ranges.
What are the three credit bureaus?
The three main credit bureaus are Equifax, Experian and TransUnion. When lenders want to see your credit report, they will request it from one or more of these reporting agencies.
Your report and score can differ from bureau to bureau because they don’t always have the same information, so we recommend you check each report separately to confirm that everything is on the up-and-up. Learn more about credit bureaus.
What is a credit bureau?
Essentially, a credit bureau is a company that tracks your ability to pay. They collect information relating to your financial habits, then make this information available to lending institutions and credit card companies. There are three credit bureausEquifax, TransUnion and Experian. Learn more about credit bureaus.
How do I know what my credit score is?
There are plenty of services that will provide you with your credit score for a small fee, but at CreditRepair.com, well do it for free. Just give us a call at 855-255-0263 to get started.
Are credit reports and credit scores the same thing?
No, your credit score is just one piece of your credit report. Your credit report also includes identifying information, trade lines, credit history, credit inquiries, public records, collections and other late payment information. Learn more about credit reports.
What impacts my credit score?
There are five main factors to your credit scorepayment history, credit usage, credit age, credit mix and recent credit. Your payment history is the biggest contributor on the list, and can be directly affected by credit repair. Learn more about what affects your credit score.
What's on my credit report?
Your credit report contains things like your identifying information, trade lines, credit limits, account names, credit history, credit inquiries, public records, collections, late payment information, and of course, and your credit score. Learn how to read a credit report.
Do employers look at my credit score? Could it cost me a job?
Short answer? Maybe. Employers are allowed by federal law to see a modified version of your credit report for purposes of hiring and promotion, meaning it could cost you a job or promotion.
What age should my credit be?
How long you've had access to credit can affect your credit score, but there's no specific amount of time required. Generally, the longer you've had a trade line, the better. Learn more about credit age.
What score do I need to get a house?
There are many factors that go into being approved for a mortgage, but you'll need at least a score of 620 to be approved for a traditional home loan.
What score do I need to get a car?
The minimum accepted score for a car loan will depend on the amount of money being requested, but some lenders will approve scores as low as 500assuming you don't mind paying extra money in interest. Learn more about auto loans and credit scores.
What score do I need to get a personal loan?
While that depends on the amount you're asking for, you can get a personal loan with a score as low 500assuming you don't mind paying extra money in interest.
Who has access to my credit report?
Your credit report is generally only looked at by those who are considering loaning you money, like a bank, car dealership or credit card issuer.
What is a FICO® Score?
Your FICO® Score is a three-digit number determined by the information on your credit report. While FICO® doesn't collect the data themselves, it's their algorithm that determines your score. Considering their score is used in 90% of all lending decisions, it's very helpful to know where you stand. Learn more about FICO® Scores.
How do I get my free credit report?
The credit bureaus have to provide you with a free credit report every 12 monthsit's the law. You can claim this free credit report from http://www.annualcreditreport.com/, or by calling 1-877-322-8228. You will need to provide your name, address, Social Security number and date of birth to verify your identity.
Outside of this official source, there are many other services that will provide you with your credit score for FREE (including us). You can call CreditRepair.com at 1-1-855-255-0263 today, and we'll provide you with your score and a credit summary, all for free.
What is credit repair?
Credit repair is the process of addressing any questionable negative items that could be hurting your credit profile. If the bureaus and your creditors cant verify these items are fair and accurate, they are required to remove them. Also, its our name. Learn more about credit repair.
Can bad credit be corrected or deleted?
The law entitles you to an accurate, fair and substantiated credit profile. If something on your credit isnt right, you can correct or repair it with the credit bureaus and your creditors.
Can my credit be repaired?
Unfortunately, we cant guarantee anything. But we can promise to help you work to address any unfair or inaccurate negative items hurting your credit profile.
How long does credit repair take?
Honestly, we cant say. Theres no way to predict in advance how long it will take to repair your credit, as every credit situation is different. That being said, past members have seen an average increase of 40 points in just four months*, and have typically stayed with us for six months. More on the credit repair timeline.
Also, CreditRepair.com offers a variety of service levels, and the strength and amount of credit repair increases with each upgrade. If youre interested in a product with more credit repair baked in, give us a call at 1-855-255-0263.
*Your results will vary and are not guaranteed.
Is credit repair expensive?
Can I repair my credit on my own?
Yep. You just need to contact the bureaus and your creditors to address any errors on your credit. That being said, this process is time consuming and confusing. Working with a reputable credit repair company like CreditRepair.com can help you remove these items from your reports quickly and efficiently. Call us at 1-1-855-255-0263 to get started.
What if I cant afford credit repair?
Think of credit repair like an investment. A little effort today could save you thousands of dollars (and a headache) tomorrow. We offer a variety of service levels to support every budget. Give us a call today and well help you find the right service for your unique circumstance. Learn more about our credit repair services.
Is credit repair legal?
Of course. You have a right to a fair, accurate and substantiated credit profile. Credit repair is simply one of the ways to help you get there.
What are removals?
The credit bureaus and your creditors are required by law to remove any negative items on your report that they cant prove are accurate, fair and substantiated. When these items are deleted from your payment history, we call that a
removal. Learn more about removals.
What can be removed from my credit report?
Anything inaccurate, unfair or unverified can be challenged with the bureaus and your creditors. This includes collections, late payments, charge-offs, liens, bankruptcies, repossessions and more.
What is a negative item?
Anything in your credit history that could lower your score is a negative item. Things like collections, late payments, charge-offs, liens, bankruptcies, repossessions and more. Especially if these negative items came as a result of identity theft, divorce, medical debt, student debt or military leave, you may be able to remove them through credit repair. Learn more about negative items.
Do negative items stay on my credit forever?
No, but it might feel like it. Most negative items will fall off of your report after seven years, though it could take as long as 10. If youd rather not wait that long, credit repair is a great alternative.
Can deleted items come back on my credit?
Yes, your creditors may report an item again, even after its been removed or deleted. Thats why its important to contact both the credit bureaus and your creditors. This will increase the likelihood that inaccurate or unfair negative items will not reappear on your credit.
How much does a negative item affect my score?
According to CreditCards.com and CNNMoney, even a single negative item on your credit could cost you over 100 points.
Negative Item Credit Score Decrease Late Payment Up to 110 points Debt Settlement Up to 125 points Foreclosure Up to 160 points Bankruptcy Up to 240 points Collection Up to 110 points Hard Inquiry Up to 15 points
Can divorce hurt my credit score?
Indirectly, yes. While filing for divorce wont hurt your score, some of the symptoms of divorce could create credit problems. For example, many people miss a payment on their credit during the frenzy of divorce. Or in the aftermath, it may be unclear who is responsible to pay a debt, and payments may be missed. These missed or late payments could adversely impact your score.
Can identity theft hurt my credit score?
Yes. When someone uses your name to obtain credit, that trade line, and any missed payments or collections associated with it, will show up on your credit reports. Even after youve recovered your identity, these issues could still be lurking on your credit report. Credit repair is essential to true identity theft restoration. Learn more about recovering from identity theft.
Can medical debt hurt my credit score?
Yes, past-due medical bills can affect your credit. The good news is, there are laws to protect against certain practices in medical debt reporting. If your credit is being negatively affected by medical bills, credit repair may be a solution for you. More on how medical bills affect credit.
Can student loans hurt my credit score?
Yes, but they can also help your credit. Paying your student loans back on time will benefit your score. Alternatively, missing these payments can cause some significant damage to your credit profile. If that sounds like you, or if youve missed other payments as a result of your student loans, it may be time to look into credit repair. More on how student loans affect credit.
What laws protect my credit?
When should I start repairing my credit?
Our average client uses our services for six months, so the sooner the better. Especially if you have plans to buy a home or car soon, getting started today can save you a big headache tomorrow.
Can I stop paying my bills?
No. Even after a questionable negative item is removed from your credit, the actual debt is still owed (assuming it was valid to begin with). If you dont pay the debt, the creditor or collection agency may re-report the listing. Removing a negative item without addressing the debt is only a temporary solution. In fact, if you feel a negative credit listing is 100% accurate, timely and verifiable, we recommend you dont dispute it.
What should I do about a collection?
Unless the collection is being falsely attributed to you, pay it. The collection is likely already hurting your credit score, and leaving it unpaid will only make the damage worse.
If the debt is one that you do not owe, our service levels offer debt validation procedures that can help you get the collection removed from your credit profile.
Will paying my bills restore my credit?
You might think so, but unfortunately it does not. When you pay an old debt, the negative credit item doesnt disappear, but is typically listed as a paid delinquency, charge-off or collection. If your goal is to repair your credit, just paying off your debts won’t get you there.
Does CreditRepair.com offer a service guarantee?
Sadly, we do not. Credit repair just isnt something that can be guaranteed. What we can guarantee, however, is that we will do everything in our power to help you achieve the credit score you deserve. Learn more about our client results.
How much does CreditRepair.com cost?
We offer different products and services to match every budget. Currently, our most popular service level is also our most advanced, which costs $99.95/month. Learn more about our service levels.
How do I cancel service if I no longer need it?
If we arent meeting your expectations or you no longer need our service, you can cancel at any time. Just remember, credit repair isnt going to happen overnight.
To do so, you can cancel your engagement agreement at any time by calling 1-800-232-6499.
How will I know my credit is repaired?
After youve reached your credit goals, or when youre confident your credit report is fair, accurate and substantiated, that may mean you no longer need credit repair. If you no longer need credit repair, you can call 1-800-232-6499 to cancel your service at any time.
Keep in mind, we also offer credit care products that can help you monitor and protect your credit moving forward. Before you cancel, you may want to consider transitioning to one of those services instead.
Is CreditRepair.com legitimate?
Of course. Weve been legitimate players in the credit industry for a long time and have deep relationships with other players in this space.
How do I view my account progress and credit score?
As we are working with your creditors and the credit bureaus, well notify you of updates to your credit profile via email. When you have items removed or improved, you will see them first on your credit report, which is updated regularly online. To access your account online, use the login information you created during the signup process. If youre having any problems logging in, or just need additional assistance, feel free to give us a call at 1-800-232-6499.
Is there a veteran discount?
Yes, CreditRepair.com will cover 50% of the first-work fee for veterans and active military.
Is credit repair a scam?
For the most part, no. That being said, be wary of any company that provides guarantees of results, or charges you up-front for credit repair services. Not only is that illegal, it is a red flag that something suspicious may be going on. Learn more about legitimate credit repair.
Can I pay more for better results?
CreditRepair.com offers several products at varying prices. While we cant guarantee better results, our more expensive service levels do offer additional monthly challenges and disputes, which may help you reach your credit goals sooner.
Does your service really work?
Yes, we help tens of thousands of people each year work to repair their credit.
How long have you been doing credit repair?
CreditRepair.com has been helping people repair their credit since 2012.
What happens if I dont pay?
Well stop your service. We wont delete your account, but unfortunately, we cant provide our services for free. If you cant afford your current service level, however, we are more than happy to work with you to provide a different product more suited to your needs and budget.
from a Credit Expert