My Score Just Dropped: What Happened? November 30, 2008
Posted by Benjamin in Credit Scores.Tags: Big Credit Mistakes, Biggest Credit Mistakes, Building Credit, Increase Credit, Increase Credit Score
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So, you’ve been working really hard to increase your credit score. You’ve done everything you thought you were supposed to do to present yourself as a creditworthy individual. So, what happened to make your score suddenly drop?
Credit Education Resources November 25, 2008
Posted by Benjamin in Credit.Tags: Authorized User, Bad Credit, Bankruptcy and Credit, Best Interest Rates, Big Credit Mistakes, Biggest Credit Mistakes, Budgeting, Budgets, Building Credit, Credit, Increase Credit
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Welcome to Credit Education Resources.
Whether you are trying to get approved for a loan, or you are just looking for ways to increase your credit score, Credit Education Resources can provide solutions. A higher credit score means substantial savings on your monthly bills, better rental and employment opportunities, and peace of mind. The average score of our clients increase between 50 and 60 points.
The subject of credit scoring has become an increasingly hot topic, and for good reason. For many years, the general public only associated the concept of credit scoring with the need to purchase high−ticket items such as a new car or a home. Today, credit scoring goes much further. Your credit score can affect your ability to get a good rate on commodities such as car insurance, cell phones, or even determine whether or not you get the job that you want. Indeed, the financial snapshot provided by the credit score has also become a gauge for many employers, especially those who seek to place employees in a position of financial
responsibility.
A Higher Credit Score Can Help You…
- Homeowner’s & Car Insurance – Insurance companies use their own credit bureau to analyze risk.
- Personal Loans – Your bank will make an inquiry into your credit history.
- Mortgage Payments & Refinances – Only 39% of mortgage applications are excepted.
- Job Opportunites – 40% of employers look at your credit.
FACTS About Credit Scores…
FACT: Twenty-five percent (25%) of the credit reports contained errors serious enough to result in the denial of credit
FACT: Seventy-nine percent (79%) of the credit reports contained mistakes of some kind
FACT: Fifty-four percent (54%) of the credit reports contained personal demographic information that was misspelled, long-outdated, belonged to a stranger, or was otherwise incorrect
FACT: Thirty percent (30%) of the credit reports contained credit accounts that had been closed by the consumer but incorrectly remained listed as open
SOURCE: U.S. Public Interest Group Research; One In Four Credit Reports Contains Errors Serious Enough To Wreak Havoc For Consumers, US PIRG Press release, 06/17/04
Credit Education Resources is dedicated to helping the credit consuming public maximize their credit worthiness by educating them on the in’s and out’s of the credit scoring model currently in use today as well as their rights under the Fair Credit Reporting Act.
