Unraveling the Credit Rating Mystery

Just thinking about your credit score can be daunting, and knowing how to manage it can be downright frightful! You might know that there are three credit reporting bureaus, and you may even know that you have a credit score that combines these three reports into one tidy number rating, but what can you DO about it?

The first thing to keep in mind is that you are allowed, by law, to obtain a free copy of your credit report from the three major reporting agencies every year. At minimum, you should review your credit report for discrepancies or to discover any accounts that you did not open. If you’ve recently picked up your free annual credit report and have started to look it over, you may feel like they left out the secret decoder ring!

Understanding what all of that credit lingo means can be difficult. What is the difference between revolving and installment accounts? How does your rating affects your present and future financial well-being? What do you do if there is a problem with your report? Worse yet, how do you handle it if you discover someone has stolen your identity?

They say that our greatest fear is that of the unknown, but you can make that fear a thing of the past by requesting a copy of your credit report and getting to know what the major credit agencies are reporting about you. Knowing how to understand and manage your credit report can help you keep your credit score in a place that gives you better purchasing power and lower interest rates on everything you finance.

If you are confused about the information contained in your credit report, we invite you to speak with our credit specialists, who can help you decipher your credit report and provide you with a no-charge consultation. What to expect from your consultation:

  • A thorough review of your credit reports.
  • Learn about negative accounts, such as items in collections.
  • Learn about positive accounts, like those in good standing.
  • A discussion about how it all ties together & what affects your score. Who has requested your score, public records, new vs. established credit accounts and much more are all in the mix.

Learn:

  • How long can negative items affect your rating?
  • How can you improve your credit standing moving forward?

We also offer a variety of tools that can help you manage your finances and keep your credit under control. Whether you’re trying to pay down debt quickly or figure out which credit card to pay off first, our tools can help you decide what will be the best approach.

You can schedule a consultation with one of our specialists by calling 866-639-3426. Take control of your credit today!

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