Credit is something that is established when you make purchases and agree to pay back the amount you borrowed, usually with interest. Your credit is reported to the main three Credit Reporting Agencies (Equifax, Experian, and Equifax), and as you begin to establish credit in the very beginning, you are given a Credit Score. Continuing to build and establish credit will allow you to increase your credit score, which, in turn, will allow you to be approved for making future purchases such as a home or car. The ultimate, long-term goal while building credit is to pay your financial obligations on time.
A Credit Score is a rating number that is provided based on how you manage your credit. This score tells creditors how creditworthy you are. The higher your score, the more trustworthy you are. Your credit score will range from 300 to 850 and the higher the number, the better. The three main reporting agencies - Equifax, Experian, and Transunion - all provide different scores based off their reports. The credit score model used most widely by lenders to determine your creditworthiness is called "the FICO score".
A Credit Score over a 660 is considered "good" credit. This is the score that most lenders will approve you with a good interest rate. Once you have good credit, you'll want to increase your credit score over time to get over a 720 credit score (or higher), as this will help qualify for the best approvals and interest rates.
Any score under a 620 is considered "bad" credit. Having bad credit can really affect your ability to have any creditor or lender approve you for a loan. Working to increase your credit score to at least a 660 will help keep you from having to pay high interest rates on future loans.
Since a credit score fluctuates over time, it's important that you understand the things that affect your credit scores over time. 1) Having high credit card balances. 2) Paying late on an account that reports to your credit report. 3) Too many credit inquiries or credit pulls. 4) Any negative item, such as a Collection Account or Charge Off reporting to your credit report.
The best way to improve your credit score is to pay all of your bills on time and keep your credit card balances paid down, as close to a zero balance as possible. The 5 main contributors to your overall credit score are: New Credit, Credit Mix, Credit History, Length of Credit History, and Amount of Debt. Think of credit as a recipe, having the perfect amount of each ingredient creates the best dish. This same methodology can be applied to your credit.
Believe it or not, you have over 25 different credit scores based on each scoring model. Although the credit reported on your credit report throughout each model is the same, each credit reporting agency and model has its own credit score. Although this can get confusing, you will find that all the scores usually are within approximately the same range. It's best to monitor your credit score through an online company like IDENTITY IQ, as it will give you the best idea of where your score is at. When you eventually want to make a large purchase, such as a home or car, use MYFICO to examine each and every score you have, based on the lender you wish to use. Both of these options do a soft credit pull, so it will not affect your credit score.
850 is the highest credit score you can obtain, and 300 is the lowest. Most people start out somewhere in between and, once you begin to build credit history and pay bills on time, your credit score will grow too.
The three main bureaus are: Equifax, Experian, and Transunion. There are many other credit reporting agencies like Lexis Nexis, Sage Stream, Chex Systems, etc., but the main three are the most commonly used.
A credit bureau is a company between you and the creditor that reports your payment history. The bureaus keep track of your spending habits, payment history, and much more regarding your credit.
You can easily track your credit score online through Identity IQ. We recommend this site to all our clients because we find it to be the most accurate and thorough.
No, a Credit Score is one of the important things listed on your credit report. A Credit Report has all different types of data, such as identifying information, trade lines, credit history, credit inquiries, public records, and collections.
There are five key metrics that determine what your credit score is. They are: New Credit, Credit Mix, Credit History, Length of Credit History, and Amount of Debt.
Your credit report is a compilation of a lot of personal data. The most common data found on your credit report is Personal Information, Public Record Information, Account History, Derogatory Accounts, and Inquiries.
Yes, unfortunately, we find this to be true with many people! In fact, over 10% of our clients come to us because they need their credit fixed because it's preventing them from being employed.
You can start to actually build credit as soon as you're issued a Social Security Card, but you can't apply for most loans until you are at least 18 years old.
There are many factors that will affect your ability to be pre-approved for a home loan other than just a credit score, but most mortgage lenders require at least a FICO score of 620 or higher.
Actually, you can get approved for a car with almost any credit score. The two main factors that they look at outside of just your credit score are 1) your ability to afford the vehicle purchase (you make enough income to qualify for it) and 2) you have no major defaults on your credit report, such as previous delinquents on a car loan.
Absolutely! We guarantee results or you will receive a full refund. In less than 1% of cases, we can't guarantee specific items to be removed, so we may offer a non-guarantee agreement to the client instead.
Anyone who has access to your personal credit report must have your direct authorization. Anytime you apply for a loan, you are granting the lender access to your credit report.
This is the most commonly used Credit Scoring System by lenders and banks across the United States. The type of purchase or loan you're applying for will determine which FICO Scoring Model the lender will use. The most common FICO Models are Fico 2,3,4,5,8 and 9, and they all compute/calculate your scores differently. To learn more about FICO Scoring Models, check out MYFICO.
You can access a free copy of your credit reports from Annual Credit Report, but they do not provide credit scores and their reports are hard to access and download. A site we recommend to all our clients is Identity IQ. Their credit reports are the most accurate, with the most information, and they are super easy to access.
Anytime you open up a loan, there will be an Interest Rate attached to it, which means you will be required to pay back the full loan amount plus the interest amount. For instance, if you open up a $3,000 loan and your interest rate is 10% for the duration of the loan (if not paid off early), you will pay an additional (+/-) $300 in interest on top of the borrowed amount of $3,000.
Any score under a 620 is considered "bad" credit. Having bad credit can really affect your ability to have any creditor or lender approve you for a loan. Working to increase your credit score to at least a 660 will help keep you from having to pay high interest rates on future loans.
It sure can! We use an effective process that forces creditors and collection agencies to delete invalid or inaccurate accounts off a credit report.
Great Question! In order to understand individual situations fully, as well as determine if we can help, we offer a FREE Consultation and Evaluation. Most clients' credit can be helped, we simply do not believe in charging a client for our services unless we are completely confident we can help them.
Credit Repair can take anywhere from two weeks to two months, it simply depends on how fast the creditors and collection agencies will take to respond to disputes and before offering resolutions.
It can be...if you hire the wrong company that uses the wrong process. Over 95% of the credit repair companies charge neverending monthly fees, whereas ASAP Credit Repair ONLY charges for the items we pursue. Not only does this make us one of the least expensive companies in the industry, but also the fastest! It's important to call around to different companies and inquire how their process works - you'll notice most companies will take 8-12 months to do something that takes us only 1-3 months.
Absolutely! In fact, it is your legal right to do so! Hiring a company like ours is just an option you have available to make the process smoother and easier on you. We have over 15 years of experience and have perfected the credit repair process. We have helped over 10,000 clients better their credit and fullfill their credit goals and achieve their dreams. If you do decide to tackle the task of credit repair on your own, the best advice we can give you for the DIY route is to do extensive research, and not use template-based dispute letters like the ones you find online - it's important each dispute you send out is unique.
One thing you should know about us is that we have affordable payment options and have never lost a client due to price. If you can't budget for credit repair,go through the process of fixing your credit on your own. We provide a FREE Guide on how to do this on your own with a lot of details and helpful hints, definitely check it out!
100% legal and it's your legal right. You have the right to check the validity of any account on your credit report at any time. In fact, 1 out of every 3 credit reports have errors, so staying up to date on its status is a smart move. Most people don't realize how much one "small" reporting error can cost them in the long run. Inaccurate reporting and bad credit can be detrimental to you in many ways, so examine your credit report thoroughly to ensure you aren't being erroneously.
"Removal" is just another name for "deletion". When repairing credit, you want to request that an account or the reporting of an account be removed. Any item removed from your payment history is considered a "Removal".
Any inaccurate or false information can be removed from a credit report.
A negative item is any item that is not in a positive status, such as a late payment, charge off, or collection account.
Nope! The only kind of debt that can report on your credit report forever are Tax Liens. All other accounts have an expiration or "deletion" date of 7 to 10 years, depending on the type of account.
If credit repair is done incorrectly, then yes items can be placed back on your credit report. At ASAP, we use a method that GUARANTEES items are permanently deleted off your credit reports.
This depends on the type of negative item or account. Any negative account or reporting can drop your scores anywhere from 10-200 points, which is a wide range. It's important to avoid and fix any negative reporting on your credit report for the best possible score.
Absolutely! In fact, it is your legal right to do so! Hiring a company like ours is just an option you have have to make the process smoother and easier on you. We have over 15 years of experience and have perfected the credit repair process. We have helped over 10,000 clients better their credit and fulfill their credit goals and achieve their dreams. If you do decide to tackle the task of credit repair on your own, the best advice we can give you for the DIY route is to do extensive research, and not use template-based dispute letters like the ones you find online - it's important each dispute you send out is unique.
Yes, it can. This is the leading cause of bad credit. Identity theft affects over 15 million peoples' credit reports each and every year. If you have been a victim of identity theft, you need to reach out to us immediately. We can easily help you get your concerns resolved and start to clear up any credit mishaps.
Currently yes, but Medical Debt will soon only be reported to a credit report if the debt owed is over $500 and you have failed to pay it after a full year. It's important to resolve any medical debts before they show up on your credit in the future.
Yes, they can if you default on them in any way, but they can also help build your credit score...provided they are always paid on time. With student loans, credit repair can be very effective if done correctly. Feel free to reach out to us so we can answer any questions you may have about the best way to do it right.
There are multiple laws that protect your credit, but the most commonly known are the Credit Repair Organizations Act (CROA), the Fair Credit Reporting Act (FCRA), The Fair Debt Collection Practices Act (FDCPA), and The Truth in Lending Act (TLA). These laws are important for you to know and understand, particularly if you want to tackle the credit repair process on your own.
Yes, they can if you default on them in any way, but they can also help build your credit score...provided they are always paid on time. With student loans, credit repair can be very effective if done correctly. Feel free to reach out to us so we can answer any questions you may have about the best way to do it right.
Never stop paying your bills! Even if there is a clerical error or something that occurred to affect an account of yours, neglecting to pay your bills will do way more damage than it's worth. If you're unsure how to handle a specific situation, we're happy to give you free advice, just give us a call!
ASAP Credit Repair is a Family-Owned and Operated Credit Repair Company. Founded in 2008, ASAP Credit Repair has become one of the most recognized Credit Repair Brands across the United States. Joe Mahlow, the founder of ASAP Credit Repair, has been working in the credit industry for over 17+ years, and in the Auto and Mortgage industries helping clients to get approved for loans. After realizing over half of his clients couldn't purchase because of bad credit, he set out to find a way to resolve this problem. Within weeks, he purchased a franchise credit repair company that, unknown to him, was in the midst of collapse. Immediately, he began ASAP Credit Repair. Even with all of the information available online, he quickly realized the only way to repair credit correctly is to know the laws. After 4 years of trial and error, ASAP Credit Repair hit a threshold that most credit repair companies can't even begin to come close to, with an average deletion/success rate of 73%. This means ASAP Credit Repair has resolved the vast majority of our clients' credit concerns by deleting items from their credit reports. ASAP Credit Repair has two very important missions, 1) to provide an effective and inexpensive option for credit repair and 2) to provide the best customer service experience along the way. We hope that you decide to choose ASAP Credit Repair for your future credit repair needs.
ASAP Credit Repair was originally established in 2008, but formally took the name in 2013.
ASAP Credit Repair is a nationwide business with over 65 locations. Our original location and corporate office is located in Houston, TX
Absolutely! We guarantee results or you will receive a full refund. In less than 1% of cases, we can't guarantee specific items to be removed, so we may offer a non-guarantee agreement to the client instead.
This is one of the MOST important questions we get. We are totally different from over 95% of other credit repair companies, because we ONLY charge for the items we pursue. Not only does this make us one of the least expensive companies out there, but also one of the fastest. This is because we dispute all of your derogatory items at the same time, meaning we're finished with your services within 60-90 days. We also offer a FREE consultation and evaluation to let you know everything we can do and all the details of your service before we charge you anything.
Give us a call at 281-545-5001 or send an email to info@asapcreditrepairusa.com and we will cancel your services immediately.
Great Question! We provide a detailed report on your results and updated credit profile after each credit repair round, so you're able to track your progress easily.
Yes, absolutely. We are fully licensed, insured, and bonded in the states in which we operate, and have over 1500+ client testimonials and reviews that demonstrate proof of results and very happy customers!
We provide a detailed report regarding your results and include an updated credit profile after each and every credit repair round, so you're able to track your progress easily.
We sure do! We offer Military, and Friends and Family discounts, so give us a call today if you qualify!
Credit Repair services tend to have a bad reputation because of the many bad apples within the industry. There are a lot of great companies willing to go the extra mile to help you (like we are) if you put in the time and effort to find them. I highly recommend you do your research and call around instead of picking the first company you find.
We assure you that there will be no need! We dedicate an immense amount of time and effort to all of our clients' files, so you never have to worry if your account is getting enough attention. It is, and our proof is in your results.
It definitely works! It's difficult to last in the Credit Repair industry, unless you provide reliable results plus incredible customer service...and we do. We have been in the industry for over 15 years - not many other companies can say the same thing.
15+ years. We have a proven track record with over 10,000 satisfied clients, who have been able to move on with better credit and accomplish financial goals because of our services.