While the national credit score average is gradually on the rise, millions of Americans are in the continuous battle with bad credit and low credit scores. Instead of focusing on the impact of a low credit score, let’s summarize the high credit score perks that should serve you as motivation to get your financial affairs in order.
A high credit score will qualify you for mortgages and car loans on the best terms, provide opportunities to finally start your business, and can have an impact on securing a job, getting a promotion, or renting an apartment. Most important of all, you can live a worry-free life with a secure financial reputation. Your financial goals should include savings, budgeting, and managing your credit score. What exactly is an excellent credit score, and how can we achieve it?
Your credit score, or scores, to be more precise, is a three-digit number representing your credit history health, and creditworthiness. The credit scoring models currently utilized by the majority are VantageScores and FICO Scores. Both range from 300-850, which is essentially the spectrum that your credit score falls under. As you can see, the highest number on the scale is 850 indicating the perfect credit score, despite the employed model. Having an 850 score is not necessary to receive the best terms from creditors or consider yourself financially free. With that being said, the credit score calculation can be divided into their respective verbal expressions, which you have probably seen before:
Understand that each lending company employs different scoring systems. For instance, a “fair” credit score reflected in one may show as “good” or “poor” in another, depending on their unique methods of calculation, credit history report, and your numbers. The FICO model assumes an “excellent” credit score for individuals with 750 or higher and a “good” for those with 680-739. VantageScores, on the other hand, considers 700 or above as “good” and 800 or higher as “excellent.”
Climbing towards the ideal credit score is a lengthy journey revolving around building your credit history report. There are key elements you should pay particular attention to when boosting your credit score or crafting it from scratch. When you look into your credit report, you may notice specific sections, which should serve as your guide.
Here is a list of things to consider when building a perfect credit score:
Making timely payments is the most significant contributor to low or excellent credit scores, as it makes up a massive 35% of your overall credit score. Misses payments are more often a result of forgetfulness rather than lack of financial resources so that it might be a good idea to set up auto payments or reminders. With varying due dates on all accounts and other life hassles in between, missing payments can happen. The payment schedule can be adjusted upon contacting the creditor, which may be particularly helpful in situations where the money is tight.
While on the subject of timely payments, pay attention and track your credit utilization, which is the ratio of your entire revolving credit versus your debt. The general unwritten rule states that your credit utilization ratio should not exceed 30% of total indebtedness. It is good to have some balances that are being paid off in a timely manner, indicating you remain active and preventing closing the account. So, a ratio of 0 is also not a great way to build your credit score. Managing your credit responsibly is the best proof for lenders that you can handle more debt. Ideally, 10% of credit utilization is what you should aim for.
To help you minimize your credit utilization ratio, consider introducing these actions:
If you have an extra income coming in, such as a tax return or birthday cash, restrain from a shopping spree and reserve it for your out-of-control balances. It will lower your credit utilization ratio and get rid of that proliferating debt. And let’s not forget about the dreadful interest rates that sink your credit and finances.
There is an overwhelming and damaging myth that checking your credit score can lower it. While hard pulls can cause some minor and temporary loss in credit score, soft credit inquiries do not. You can utilize various online tools to monitor your credit score as much as needed. A few budgeting applications allow you to pull your credit score, informing you of any changes, and additionally, helping you establish financial goals and a solid budget.
You can and should obtain free copies of your credit history report once every twelve months to examine what exactly is happening and what lenders see when they check your creditworthiness. This is crucial! The credit report inaccuracies should be disputed promptly, and the changes will consequently boost your credit score. Things to look out for:
You would be surprised how many clients’ credit history reports contain inaccuracies that can be easily disputed.
Pyramid Credit Repair is the leading credit repair and advisory organization in the nation. We guide you through the process of credit repair from A to Z, executing the dispute of incorrect items, educating on financial and credit affairs, and other assortments of services based on reliable data and analytics. Our logistic approach to credit repair, expertise, professionalism, transparency, affordability, and a team of knowledgeable industry experts guarantee outstanding results.
We know that managing to keep a good credit score is difficult. One late payment here, another misunderstanding there, and before you know it, you've got a terrible credit score that you may think is beyond repair.
But that's just not true. Credit scores can always be repaired, especially if you're in New York because we're here to help you out!
With our solid, foolproof 3-step plan, you can improve your credit score in no time.
When you reach a bumpy road, it's okay to call for help! Just when you've thought your score has hit rock bottom, it can somehow manage to slide further down, and it will continue to do so unless you make the right decision. Debt is a never-ending rabbit hole, so it's best to start working now.
Once you call us and explain your situation to us, we might be able to offer you some advice on how to better manage your credit score.
After your free consultation, the next step in an in-depth analysis of your credit history. This may include looking at bills, investments, bonds, and loans. Our experts will analyze your entire account while constantly discussing the events with you to get a clear picture of what went wrong. Sometimes, it's not just missing a payment but recurring habits that adversely affect your credit score in the long run.
Our aim is not just to improve your credit score, but also to help you maintain a good score. Our team of experts will give you personalized advice that will help you maintain your new and improved credit score.
Once we've figured out what needs to be done and fixed, we look at disputes that need to be addressed. We come up with a proper plan to help you improve your score. This game plan can include everything from personalized tips to improve credit score and decrease piling debt as well as resolving past disputes on your behalf.
We basically give you sound financial education, which is seldom found in the real world. Not just this, but we keep an out on your account, monitoring your credit scores and habit. If there is something that you'll be doing wrong even after our consultations, our experts will very candidly point it out.
When you desperately need a loan for a house or a new car, your bad credit score may come back to bite you. Those late installments you pay can cause problems in your future. At Pyramid Credit Repair, we help you improve your credit score. We do so by contacting companies that have left negative reviews for your credit and getting to the root of the problem. With over 10 years of experience in the field, our team can swiftly scour your entire credit history and end credit disputes that have held you back for far too long.
Learn how we can help.
We help individuals improve their credit scores, both actively and passively. We know you're probably wondering how we're going to help you improve your credit score. To be able to answer that, we'll first need a little lesson in credit scores.
It’s just unconventional. Simple. Smarter. Better. Easier.
Many credit repair companies start by requesting a copy of your credit report from each of the three major consumer credit bureaus (all three) — Equifax, Experian and TransUnion – before they can start. You either pay for them, or they charge you for them.
Professional Credit Analyst who will review your reports with you and help identify the negative items hurting the overall health of your reports.
As a credit repair company, we have an obligation to ensure that we can help you, prior to starting work – hence why it’s important to have the right to request for a refund if that’s the only other option.
A stellar reputation in our industry means lower costs and a clear mission, vision and philosophy. Customers are the best local advocates to help you get a more realistic picture of which credit repair companies stand out from the crowd.
Often companies will charge “initial audit” or “discovery” fees. Sometimes, even “cancellation” fees.
Over at Pyramid Credit Repair, we offer two plans to meet every one of your needs. One of our key features is that we have no hidden costs that will spring upon you out of nowhere. Both of our plans are complete packages that come with 100% coverage.
No additional costs.
Personalized game plan.
24/7 phone support.
No contracts. Cancel anytime.
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Personalized service for two.
Finance tools for couples.
24/7 phone support.
No contracts. Cancel anytime.
We offer a free assessment of your credit dilemma over the phone. Just call us, explain your situation to get a free assessment and advice for free.
At Pyramid Credit Repair, we are confident in our work, which is why we offer you a money-back guarantee. If you don't feel like your issues were solved adequately, you reserve the right to ask for a refund.
We have two plans that are complete packages for all your needs. Unlike other companies, which profit from charging clients hidden fees, we believe in complete transparency. This means you never have to worry about incurring extra charges when working with us!
A bad credit score can lead to many problems down the road. So, don't wait until your credit score reaches a point beyond repair.
Contact Pyramid Credit Repair today!Banks and other lenders are always risking their money when they give out loans to individuals, so they create an entire borrower's entire profile. These lenders also register your case with credit bureaus, which are tasked with keeping track of all your lending and loan returns. Credit bureaus are mostly automated these days, which means instead of reading your entire loan history, lenders rely on a computer-generated number (your credit score) to make a risk analysis for that loan. Your previous payment history plays a huge role in deciding your current credit score, think 35%, which is the most significant factor credit bureaus take into account.
While these credit bureaus are supposed to be reliable, they're sometimes not and can mess up your credit history. Sometimes misunderstandings between lenders and borrowers also affect your credit score and drive down your credibility.
On average, clients can expect to see a 103 point score increase over 6 months, with an initial 10 point increase in the first month. Due to the fact every single collector has different internal processes and ways of handling our disputes, we can never be too sure how long it will take. We try one strategy, see what the results are, and go from there. We provide monthly updates to let you know what's happened along the way.
We have been able to delete most kinds of negatives that exist on credit reports, including collections, charge-offs, bankruptcies, student loans, late payments, medical bills, utility bills, repos, tax liens, foreclosures, and many more.
We dispute negatives from the major bureaus that lenders care about- TransUnion, Experian, and Equifax.
They are private corporations (like McDonalds or Walmart), not government entities, that sell your financial history in the form of credit reports to lenders like BMW or Chase Mortgage. These lenders then evaluate your report to decide if you're likely to pay them back or not. If you have one or more negatives, you're likely to get denied. The FCRA and FDCPA give you the right to dispute any negative marks harming your creditworthiness. While there is no guarantee of removal, it's always a wise decision to try because the alternative can mean waiting 7 to 10 years before anyone will approve you, that's a long time!
Yes. If we're unable to remove any negative marks after 90 days (3 disputes) of work, we will refund any and all fees. No questions asked.
We charge an initial $199 audit, signup, and letter fee only after your initial disputes are sent.
By law we're unable to guarantee results of any kind. As an alternative, we offer our guarantee that we will refund fees if we don't get any results after 90 days. Any company that promises results is in direct violation of the Credit Repair Organizations Act and probably shouldn't be trusted. Unfortunately, many of them continue to do it and that is one reason the credit repair industry has a bad reputation.
No part of this site may be copied, distributed or reproduced without prior written permission. The services of Pyramid Credit Repair and its affiliates may not be available in all states. Pyramid Credit Repair, assists consumers with credit reports that are inaccurate, misleading, unverifiable, untimely, incomplete or that otherwise contain incorrect information. All testimonials are from actual clients. Individual results may vary.