IMPROVE CREDIT SCORE FICOIt is a new day in America. The credit report is your scorecard in the finance world. We are being judged on a three digit number. One must have decent credit to obtain lines of credit and conventional mortgages. You will be instantly denied if you do not have an acceptable credit score. It seems that people need at least a 680 or better when applying for credit. The credit score tells how reliable you are when paying money back. Can you make the payments? History does tell the future when it comes to credit scores.


Yes, one will need to prove one is worthy when applying for credit and/or mortgage. One must do everything as possible to maintain an acceptable credit score.


Where do you obtain information on how to maintain a decent credit score? This information is not taught in school or college. Many people are clueless when it comes to establishing and maintaining credit. Here are some questions that people have when it comes to credit:


  • How do they come up with the credit score? What are the factors?
  • Why do I need to establish credit?
  • How do I remove information that is not correct?
  • Why is my insurance so high?
  • Will employers check my credit score?


Your credit report includes the last 10 years with borrowing and repaying habits. Again, it is your report card on how you handle your finances. Creditors report your account activity to the three major Credit Reporting Agencies. These agencies receive and maintain information on each person. The credit business is huge because it does touch every person in America who holds a mortgage and/or credit card.


My parents instilled in me to pay my bills on time each and every month. They informed me that I will have no difficulties down the road. However, they did not teach me the importance of credit and the power of it.


Many people are walking around with incorrect information on their credit report. This will include negative or wrongful information. This will lower one's credit score if it remains on the credit report. This is not a true reflection of one's credit history. Now, everyone will experience something in life such as death, job loss, divorce, health issues and so on. Things will happen in one's life that is beyond control. It is not the end of the world.


Here are some things creditors look for on the credit report to deny credit


  • Charged off accounts
  • Collection accounts
  • Settled at a lower amount
  • Bankruptcy
  • Judgments unsettled


The following statements are considered negative on the credit report. Yes, it does lower the credit score. Furthermore, these statements give reason to deny credit.


Please do not let this get you down. It will require patience, understanding and money to rebuild the credit score. I would advise to seek professional assistance when it comes to credit restoration. We have obtained a strong relationship with Praxis Credit Consulting. Their main business is credit consulting and teaching people how to develop and maintain a budget. They become an advocate for you and your credit score. They know the rules of engagement better than you. Mistakes happen when processing your report or creditors report wrong information by mistake.


How to obtain your credit report? Please review the information below.


TRANS UNION, Customer Disclosure Center, P.O. Box 390, Springfield, PA 19064-0390 1-800-888-4213

EQUIFAX, P.O. Box 740241, Atlanta, GA 30374-0241 1-800-685-1111

EXPERIAN, P.O. Box 2104, Allen, TX 75013-2104 1-888-397-3742


The scariest situation is when someone has stolen your credit identity. This can be a nightmare when handling on your own. You will need to file a police report with local police. Then, send that report to all major credit bureaus along with all of your creditors to alert them of the situation. This will create a fraud alert. Timing is critical at this point in time.  


Finally, I would encourage everyone to check their credit report at least every six months to ensure its accuracy. Being informed and maintaining one's credit score is vital in today's financial business.


"Make the call, Set the Plan, and Do the Deal$!"

Make the Call, Set the Plan, Do the Deal$!

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Comment balloon 0 commentsHarry F. D'Elia III • April 29 2012 03:26PM