Repair Credit Score

Posts Tagged ‘credit score used for mortgage’

Question: What are the main companies in the US we can refer to check for the Credit Score points?

I am an international student planning to do a research about the Credit Score system in the US and how it works.
If any book(s) in mind, please let me know.

Answer: There are 3 main credit reporting agencies in the United States, Experian, TransUnion, and Equifax. All of them have websites and explanation pages that will help you understand the system. Also check out http://en.wikipedia.org/wiki/Consumer_credit_reporting_agency to get an overview of the system. Good luck with your research!

Brent Morgan -Free Credit Score Contest Entry (1 2 3 4 )

Question: Credit has been repaired and now I have no Credit Score at all!?

I used a Credit Repair agency that has done their job(before they were shut down) and now I have no good credit! How and what should I do to quickly retreive a good Credit Score for a mortgage loan, preferably in the next year?

Answer: Rica..the link the other person left are law agencies and repair companies. YOU don';t need that. YOU need postive trade lines to report. First you can get at least two Credit cards that are easy to get..BUT..always pay the in FULL each Month...after all you are just using them to obtain "Postive credit lines on you report". Go to orchardbank.com and apply..they are easy to get and will more than likely give you-400-1000 to start...then get Capital one...they'll give you 200-400 to start. If for some r4eason you are declined from them..they both offer secured cards, that where you put up $300 in cash and you have a limit of $300 in an account. ALWAY pay in full and never carry a balance...with two postive lines reporting you improve your score 5-10 points per Month. After those are established try for a prime card like Bank of America and then CitiBank..BUILD...that's what's it's all about!!!

Good luck

Mortgage Assistance : Can a Bad Credit Mortgage Be Used to Consolidate Debts?

Question: Is it okay that I don't have a Credit Score?

I know that a Credit Score is used for loans, but what if I never want to get loans. And I also dislike credit cards and much rather use debit cards to order things online. Does that mean I don't need a Credit Score?

Answer: No credit is better than bad credit.
And if you use credit cards and carry a balance you will likely get bad credit.

On another note. Good credit can lead to good paying jobs, since employers check. Also can lead to cheaper car insurance.

There is only one way to use credit cards to develop top credit.
Use if for things you need like food and gas, but pay in full each month the day you get the bill.
It's the carrying balaces and paying interest that ruins lives.
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Tax Help : What Is a FICO Score Used For?