WHAT IS YOUR GOAL?

Depending on what your goal is, you must be very careful how you use your credit. For example, if your goal is a mortgage loan or refinance in the near future, you do not want to apply for any new credit before then.

As your credit reports improve we will help you determine what steps will help you accomplish your goals.

BANKRUPTCY
If you have filed bankruptcy, chances are your credit reports have gross inaccuracies that can harm you for many years. Our expertise will help put you back on the road to recovery.

WHAT FACTORS AFFECT YOUR CREDIT SCORE?
There are five factors which are used in determining your credit score; these are approximates:

• Previous credit performance; payment history; negative and positive factors 35%
• How much you owe 30%
• Amount of time credit has been in use 15%
• Pursuit of or obtaining new credit 10% For less negative impact, if you need a new loan or credit account, do your rate shopping within a short period of time
• Types of credit experience; mortgage, installment, revolving/credit card 10%

USE OF CREDIT CARDS TO BUILD YOUR CREDIT SCORE
In your credit reports credit card accounts are referred to as ‘revolving credit’. Because your credit score is calculated independent of your income, your use of revolving credit is very important. Keeping your balance 30% or less of your credit limit, and paying those accounts to zero as often as possible, has a big impact in building your score. This projects the image that you have your finances under control.