The Process of Rebuilding your Credit
Repairing credit takes time and there is no quick way to fix a credit score. Quick-fix efforts are likely to backfire, so beware of any advice that claims to improve your credit score fast. The best advice for rebuilding credit is to manage it responsibly over time.
If you follow these important steps you are guaranteed Credit Success
Making your credit payments on time
Pay off debt rather than moving it around
The first thing you should limit is your use of credit cards
Keep balances low on credit cards and other revolving credit
Credit Score Activity
We each have our own unique credit history. Yours may comprise an entire constellation of financial decisions, ranging from the big an auto loan or a mortgage to the small making your credit card’s minimum payment on time.
Whether you have good credit, bad credit or need to build credit from scratch, there is always room for improvement. There’s no fast lane to an excellent credit score, but responsible financial habits can go a long way toward boosting your credit health.
Magnificent$ Financial Services will provide you with real time credit updates with credit monitoring and credit alerts. You will know first had what is impacting your credit score.
Frequently Asked Questions
How long before I see results?
It depends on your situation, goals and how much work is required on our part. My focal point is to attack the most critical areas first, and those that will make the most impact to improving your score. I will work in a timely manner to ensure that your creditors are reporting accurate information.
What are the costs associated with your service?
While I value each of my customers, each credit situation is unique and therefore pricing varies with each customer. I will consult with you and design a plan to repair your credit, and is cost effective simultaneously. I lay our fees out up front. There are no hidden fees or costs.
How long does it take to fix bad credit?
There is no quick fix to repairing credit and the time it takes to repair your credit is completely dependent upon your personal situation. Magnificent$ Financial Services values each member’s situation and will work diligently to produce the desired results.
What are the three credit bureaus?
A credit bureau – sometimes called a “consumer reporting agency” – is a business that collects relevant consumer information from creditors and courthouses, and then sells that information to interested parties such as potential lenders. Such information is sold in the form of a credit report. In the U.S., the three major credit bureaus are TransUnion, Experian, and Equifax.
Why is credit repair important?
Credit affects every area of life. When your credit is bad, it creates an electronic portfolio that says you are high-risk and not credit worthy.