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January 27, 2011

Monitoring Your Credit Repair Progress
Filed under: Credit Repair — Tags: credit monitoring, Credit Repair — admin @ 1:16 pm

Monitoring Your Credit Repair Progress

When you’re going through the credit repair process, you want to know how you’re doing. That way, you can tell if your credit repair efforts are working or not. The easiest way to tell how your credit is improving (or not improving) is to review your credit report and credit score on a periodic basis.

You can manually order your credit reports and credits scores each month that you’re gong through credit repair. However, this could prove to be expensive since 3-in-1 credit reports and score can cost up to $39.95 per month.

Free Credit Monitoring

You can monitor your credit repair progress for free by ordering your annual credit reports through www.annualcreditreport.com. You can monitor your credit throughout the year by ordering one credit report every four months, rather than getting all three at one time. Review your credit reports to be sure that old negative information is no longer being reported; that unverified, disputed accounts are not listed; and that positive payment history is being accurately reported.

You can track your credit score fore free by using CreditKarma.com. The site has partnered with TransUnion, one of the three major credit bureaus, and advertisers to offer your credit score completely free. Using your credit score along with your credit reports can help you gauge your credit repair progress.

Trying Out Credit Monitoring Services

A more automatic way to monitor your credit is by enrolling in a credit monitoring service. These services are most often used to aid in early detection of identity theft, but they can also help track your credit repair progress.

Of course, you should look around at various services to see what’s offered since some credit monitoring services only monitor your credit report and credit score from a single credit bureau. Other services only give you alerts to changes in your credit score without any indication of changes to your credit score. The best service for monitoring your credit repair progress is one that offers credit reports and credit scores from all three credit bureaus. That way, you get a complete picture of your credit standing.

Many credit monitoring services offer free trials that you can use to decide which service provides the updates you need. If you decide you don’t like a service, make sure you cancel before the trial ends to keep your credit card from being charged.

Attractive Credit Repair Services


October 19, 2010

10 Things You Must Know About Good Credit.
Filed under: Building Credit,Credit Counseling,Credit Repair,General — Tags: attractive credit attractive credit secrets authorized user accounts bad credit bankruptcy build credit build credit after bankruptcy Building Credit charge-offs credit and jobs credit cards credit in, build credit, credit, Credit Repair, credit report repair, good credit, increase credit scores — admin @ 11:51 am

10 Things You Must Know About Good Credit Credit

Too many people use credit without fully knowing how. If you want to get and keep a good credit score, there are some things you have to know about credit.

1.  Credit is a loan. Using credit is the same thing as borrowing money from a friend. The  main difference is that you have to pay back interest on credit whereas most friends won’t make you pay a fee for credit.

2.  Good credit matters for more than just credit cards. More and more businesses are starting to use your credit standing to make decisions about doing business with you. This includes banks, employers, landlords, utility companies, and even insurance companies.

3.  Your credit history is tracked. Information about whether you pay your bills on time and whether you pay them at all is collected in your credit report. At least seven years worth of credit history is in your credit report waiting for businesses to see how you’ve been acting with the credit you’ve been given.

4.  Negative credit information follows you. If you make a late credit card payment or have a collection account, it remains on your credit report for seven years from the date of the delinquency. Only after that seven years has passed will that late payment fall off your credit report.

5.  Your credit score is based on your credit report. A credit score is a numeric snapshot of your credit history at a point in time. It shows where your credit stands at that moment. Higher credit scores are better.

6.  Your credit report could be wrong. Mistakes happen and sometimes errors appear on credit reports. Fortunately, federal law gives you the right to have this information removed when it can’t be verified. Simply submit a credit report dispute to the credit bureaus.

7.  Five key things impact your credit score. These things are: your payment history, your  level of debt, your credit age, your mix of credit, and the number of recent credit applications. Payment history has the most significant impact on your credit score and level of debt has the next biggest influence on your score.

8.  Unpaid credit accounts end up in debt collections. After you miss a certain number of credit card payments, usually six, your account will likely be passed on to a third party debt collector who will try harder to get you to pay the unpaid bill.

9.  If you take on too much credit, you can hurt your credit score and end up in debt. You should only take on as much credit as you can comfortably afford to repay. Taking on more than that puts you at risk of having too much credit.

10. First credit cards may be hard to get, but once you get one, the others come easily.   Be careful not to open too many credit cards since you may be tempted to charge more than you can afford.

http://www.attractivecredit.com


May 19, 2010

You Now Need Good Credit For Any Job
Filed under: Building Credit,Credit Repair,General — Tags: bad credit, build credit, credit and jobs, Credit Repair, fix credit, poor credit — admin @ 1:45 pm

Proof that you now need good credit for a low paying job or any job.

Despite the massive loss of jobs, with Americans behind on their mortgages and the foreclosures crisis this country has faced, the practice of doing credit checks on prospective employees continues to climb sharply in popularity. The Society of Human Resources Management’s recent survey found that 60 percent of employers run credit checks on at least some job applicants. When the economy was considered healthy in 2006 the figure was 42 percent.. Employers in this weak labor market are becoming more selective about whom to hire. Credit checks are a fast and cheap way to screen out candidates. And one in 8 employers checks the credit of every applicant for every job–meaning that people like janitors and retail workers can suffer employment discrimination on the basis of their credit score.

Legislatures and Congress have expressed concern about the use of credit checks in the employment context. Rep. Steve Cohen (D-TN) introduced the Equal Employment for All Act. And a recent AP article reported that lawmakers in at least 16 states have proposed outlawing most credit checks for employment. Most of those bills continue to languish (despite in the case of Rep. Cohen’s bill, 53 co-sponsors and support from organizations such as the National Organization for Women, the AFL-CIO, and the Lawyer’s Committee for Civil Rights under the Law.) But there is resistance to legislation of this type. In California, the country’s largest labor market, and the one hit the hardest in foreclosures, Gov. Schwarzenegger vetoed a bill to regulate employment credit checks, calling it a job killer. Do you believe that an employers or industries would relocate or spurn California on that basis? Moreover, the California Chamber of Commerce made the silly argument that this was a “costly workplace mandate.” This is crazy! The bill would stop employers from spending money on credit reports thus saving them the money; how can that be a costly mandate?

On the ground everyday, the real job-killing happens at the individual level, when a person trying to climb out of financial trouble is told that they are not hired because of their poor credit in the past.

While everyone is arguing about the pros and cons; consumers need to make sure that they stay on top of their credit or it can and usually will, cost them a job. If you have bad credit or no credit, we recommend you fix bad credit and get help soon.


May 7, 2010

Rebuilding Credit – Re-Establishing Your Credit
Filed under: Building Credit,Credit Counseling,Credit Repair,Unsecured Lines of Credit — Tags: build credit, build credit after bankruptcy, Credit Repair, credit report, credit scores, establish credit, fix credit, guaranteed credit, reestablish credit, unsecured credit card, unsecured revolving credit card — admin @ 12:39 pm

Rebuilding Credit – Re-Establishing Your Credit

Rebuilding Credit Isn’t So Easy

A crucial part of credit repair is rebuilding your credit history. Rebuilding your credit involves adding positive payment history to your credit report. The more positive payment history you have, the better your credit will be. But, when you’re rebuilding credit, there are some things you have to watch out for. Call us for credit cards that offer guaranteed approvals at 800-605-9085.

Watchout For Store Credit Cards

Store credit cards are often the easiest types of credit cards to get, especially when you have a tarnished credit history. When the store clerk offers to sign you up for their credit card, your mind quickly thinks to the positive impact the credit card will have on your credit score, but that might not be the case. Store credit cards often have low credit limits, so low that you only have a little available credit left after making your purchase. When your credit card balances are high relative to your credit limit, you have a high credit utilization. Credit utilization is 30% of your credit score and your credit limit takes a hit.

Not only does the high balance have a negative effect on your credit score, so does the new credit card. Credit inquiries are placed on your credit report each time you make a credit card application. These inquiries count 10% of your credit score. The more inquiries, the more your credit score will be hurt. The new card will also lower your average credit age which is 15% of your credit score.

FICO, the company who calculates the widely-used FICO score, doesn’t place much emphasis on store credit cards because the cards area associated with future default. So, the store credit card you just opened won’t do much good in the way of rebuilding your credit history.

The Best Credit Card for Rebuilding Credit

If you want to start rebuilding your credit, the best option is to get a major credit card from an issuer like VISA, MasterCard, Discover, or American Express. These credit cars are given more weight in the FICO scoring calculation and will go a lot further in helping you rebuild your credit score than store cards.

Major credit cards can be difficult to get, especially when you have a bad credit history following you around. You have a couple of options for getting one of these credit cards on your side.

First, you might get a friend or family member to add you as an authorized user on one of their credit cards. This account history would get included on your credit report and aid in rebuilding your credit.

The second option is to get a secured credit card. Though secured credit cards require a deposit to be made to secure the credit limit, you can often covert to an unsecured credit card after a few years of timely payments.

The best and third option is to apply with  unsecured lines of credit. Give us a call so we can set you up at 800-605-9085.


March 27, 2010

How Your Credit Scores Are Calculated
Filed under: Building Credit,Credit Counseling,Credit Repair,Unsecured Lines of Credit — Tags: build credit, build credit after bankruptcy, Credit Repair, credit report, credit scores, establish credit, fix credit, guaranteed credit, reestablish credit, unsecured credit card, unsecured revolving credit card — admin @ 1:10 pm

How Your Credit Scores Are Calculated

Let’s take a look what makes up your credit score and what You can do to directly impact Your Credit Scores!

What’s in your FICO® score

FICO Scores are calculated from a lot of different credit data in your credit report.

These percentages are based on the importance of the five categories for the general population. For particular groups – for example, people who have not been using credit long – the importance of these categories may be somewhat different.

Payment History
• Account payment information on specific types of accounts (credit cards, retail accounts, installment loans, finance company accounts, mortgage, etc.)
• Presence of adverse public records (bankruptcy, judgements, suits, liens, wage attachments, etc.), collection items, and/or delinquency (past due items)
• Severity of delinquency (how long past due)
• Amount past due on delinquent accounts or collection items
• Time since (recency of) past due items (delinquency), adverse public records (if any), or collection items (if any)
• Number of past due items on file
• Number of accounts paid as agreed

Amounts Owed
• Amount owing on accounts
• Amount owing on specific types of accounts
• Lack of a specific type of balance, in some cases
• Number of accounts with balances
• Proportion of credit lines used (proportion of balances to total credit
limits on certain types of revolving accounts)
• Proportion of installment loan amounts still owing (proportion of balance to original loan amount on certain types of installment loans)

Length of Credit History
• Time since accounts opened
• Time since accounts opened, by specific type of account
• Time since account activity

New Credit
• Number of recently opened accounts, and proportion of accounts that are recently opened, by type of account
• Number of recent credit inquiries
• Time since recent account opening(s), by type of account
• Time since credit inquiry(s)
• Re-establishment of positive credit history following past payment problems

Types of Credit Used
• Number of (presence, prevalence, and recent information on) various types of accounts (credit cards, retail accounts, installment loans, mortgage, consumer finance accounts, etc.)

Please note that:
• A FICO score takes into consideration all these categories of information, not just one or two.
No one piece of information or factor alone will determine your score.
• The importance of any factor depends on the overall information in your credit report.

For some people, a given factor may be more important than for someone else with a different credit history. In addition, as the information in your credit report changes, so does the importance of any factor in determining your FICO score. Thus, it’s impossible to say exactly how important any single factor is in determining your score – even the levels of importance shown here are for the general population, and will be different for different credit profiles. What’s important is the mix of information, which varies from person to person, and for any one person over time.
• Your FICO score only looks at information in your credit report.

However, lenders look at many things when making a credit decision including your income, how long you have worked at your present job and the kind of credit you are requesting.
• Your score considers both positive and negative information in your credit report.

Late payments will lower your score,

Source: Fair Isaac Corporation, ” What’s in your FICO® score”

In the United States credit is part of life and it’s very important to know how to establish, reestablish, and or repair your credit. And once we have it, protect it. At www.AttractiveCreditSecrets.com they show you the ins and outs about credit repair and restoration they never taught you in school or anywhere else. For a limited time only we are offering a FREE credit e-course to get you started.

And at Attractive Credit Cards, they are offering an unsecured revolving credit card with high credit limits up $10,000. They report to the major credit bureaus and get you on your way to getting the credit scores you deserve to build a solid and reputable credit profile.

As with all credit cards and loans, financial responsibility relies on YOU. Developing responsible spending habits and timely repayment schedules are an essential part of establishing and maintaining rock solid credit scores.


Authorized User Account Scams – Unsecured Lines of Credit
Filed under: General,Unsecured Lines of Credit — Tags: attractive credit secrets, authorized user accounts, Credit Repair, credit scores, piggybacking, Unsecured Lines of Credit — admin @ 1:03 pm

Authorized User Account Scams – Unsecured Lines of Credit

Authorized User Accounts Scam – Authorized User accounts did a lot of good things to your FICO score and exploited a big loophole in the credit scoring system that millions of people used to build their credit.  It was known as “Piggybacking”.  You could “piggyback” your social security number onto someone else’s credit card, as long as the creditor allowed it and agreed to report the new information (social security number) to the bureaus every month.  Once reported the “authorized user” would inherit the primary users credit history. The end result, Instant Credit.  You were then able to qualify for major purchases due to the artificially increased credit scores.

This loophole was closed by the development of a new credit scoring system known as FICO 08.  This new scoring module would no longer take into account “authorized user” accounts.  However, the release of FICO 08 has been delayed by a lawsuit and the scoring model hasn’t been implemented.

This does not mean you should still use this strategy as an effective means of increasing FICO scores.

Even though the credit bureaus haven’t eliminated the loophole, the lenders have. You must understand that the lenders read the newspapers also, and as soon as this loophole was made into public knowledge their underwriting guidelines changed to specifically address credit reports that have multiple authorized user accounts listed. This means that even if you were to add authorized user accounts and see large credit score increases you would still get denied for your loan. Unfortunately, many people are still selling this type of tradeline. They are even sometimes calling them “joint” accounts or “seasoned primary accounts”.

Although the loophole remains open, the lenders have identified and effectively closed it.  Lenders have been hit hard with fraudulent loans by clients artificially inflating their credit scores, so lenders have changed their underwriting guidelines to exclude authorized user accounts from their lending decision process.  It’s unfortunate, but it’s a fact.

Still people are falling for these types of scam tradelines everyday.  They are being dressed up and sold as “Joint” and or “Seasoned” or “Primary Seasoned Accounts”.

The only tradelines that are legitimate and can stand the test of time are primary tradelines that are not artificially aged.

It can be difficult to get a car loan or credit card if you’ve never had credit in your own name and having bad credit is the same or worse having no credit.

So what do you do???

Here’s the solution!

Now you can get $5,000.00 or $10,000.00 unsecured line of credit reported monthly on your credit file!

This immediate positive new credit with high credit limits reporting to your credit profile will do wonders to your credit score!

Due to the different scoring modules with the FICO® formula some customers have experienced higher credit score increases than others, but nonetheless a positive increase in credit scores is better than no increase at all.

These tradelines are not artificially aged, and will ultimately help your credit. This is the only real solution to increasing your credit scores.  And to keep boosting those credit scores is to keep an on-time payment history and to keep the account active for at least 2 (two) years so you can reap the full benefits of the merchant store card.

In the United States credit is part of life and it’s very important to know how to establish, reestablish, and or repair your credit.  And once we have it, protect it.  At Attractive Credit Secrets we show you the ins and outs about credit repair and restoration they never taught you in school or anywhere else.  For a limited time only we are offering a FREE credit e-course to get you started. 

As with all credit cards and loans, financial responsibility relies on YOU.  Developing responsible spending habits and timely repayment schedules are an essential part of establishing and maintaining rock solid credit scores.


March 17, 2010

The Top 10 Complaint Generating Industries For 2009
Filed under: General — Tags: Credit Repair, credit repair industries, credit repair organizations — admin @ 1:45 pm

Here is a list of the top 10 complaint generating industries for 2009.

 

Where does credit repair organizations fall on this list?

Industry Total
Complaints		 Rank by
number of
complaints		 Percentage
change over
2008		 Percentage of
resolved
complaints
Cellular phones
service &
equipment		 37,477 1 2.1% 97.4%
Television – Cable,
CATV & Satellite		 32,616 2 8.7% 97.2%
Banks 29,920 3 42.3% 95.2%
Auto Dealers -
New Cars		 26,888 4 -2.4% 84.1%
Internet Shopping 21,494 5 9.4% 71.7%
Collection Agencies 15,797 6 -3.3% 86.6%
Auto Dealers -
Used Cars		 13,686 7 2.5% 70.8%
Telephone Companies 13,470 8 11.2% 96.1%
Furniture – Retail 13,158 9 -2.9% 78.3%
Auto Repair
& Service		 12,736 10 9.5% 65.9%

How about all the way down at 189 on the list! That’s right. The credit repair industry only generated 993 complaints for the entire year of 2009.

Far from the sensationalized picture the media and other entities try to paint.  BBB bans credit repair companies as a whole and/or gives blanket “F” ratings….For an industry that only generated less than 1 complaint per company on average?

The limousine industry gets more complaints than we do.

Wow… Makes us wonder!


December 16, 2009

Credit Repair by Attractive Credit
Filed under: Credit Repair — Tags: attractive credit, Credit Repair, credit repair results, credit report repair — admin @ 2:29 pm


How Credit Repair Works
Filed under: Credit Repair — Tags: bankruptcy, charge-offs, Credit Repair, credit repair process, credit repair services, credit report repair, debt collections, foreclosure, late payments, repossessions — admin @ 10:49 am

Your credit is becoming increasingly important as more businesses rely on your credit to make decisions about you. Many of the applications you put in require a credit check, even those that have nothing to do with credit cards or loans. When you have bad credit, you’re always on edge, wondering whether your application will be approved or denied. You can eliminate that feeling by repairing your credit. Visit www.AttractiveCredit.com to have professionals do the job.

The goal of credit repair is to improve your credit score so your applications will be approved and your interest rates will be lowered.

Cleaning Up Your Credit Report

A major part of credit repair involves cleaning up negative information on your credit report. Since your credit score is calculated directly from the data in your credit report, any negative information will pull down your credit score. Damaging negative information includes late payments, debt collections, charge-offs, foreclosure, bankruptcy, repossessions, and lawsuits. High credit card balances and excessive credit inquiries can also pull down your credit report.

Adding Positive Payment History

Visit www.AttractiveCreditCards.com to obtain a Guaranteed approval on an unsecured line of credit.

Though it plays a big role in credit repair, clearing your credit report of negative information is only part of credit repair. If you have very few open credit accounts or all your accounts contain negative information, you need some new accounts to begin building some positive payment history. The more positive information you add to your credit report, the better your credit will be.

Paying Down Balances

High credit card balances could be dragging your credit score down. Credit repair involves reducing these balances or raising the credit limit on those accounts so the balance-to-credit ratio on those accounts decreases.

How We Can Help

Credit repair isn’t rocket science. You can complete many of the credit repair steps on your own. However, many consumers don’t feel comfortable attempting credit repair themselves because they’re unfamiliar with the steps required. That’s where a credit repair company can help. Credit repair companies have trained, experienced professionals who know the steps to take to improve your credit. They can review your credit report and help you decide what needs to be done to repair your credit.

There are a lot of credit repair scams out there, so it’s important that you be careful about the credit repair company you choose. Credit repair companies are required to let you know your federal rights pertaining to getting a credit report and disputing inaccurate credit report information. They also must include specific details about their services inside their contract and let you view the contract before signing it.