Credit Information

 

There are laws in place to help consumers just like you to protect your credit rights!

Below you will find a link to the Credit laws and Collection Agencies page where you can learn alot about your rights.

Click Here For The Credit Laws and Collections Information Page

 

 

A lower score will cost you more 

The power of having a lower interest rate can be dramatic! The difference in the interest rate for a person with a 520 credit score vs. a person with a 720 credit score is 4.36% (Fair Isaac). Some might say this doesn’t seem bad….WRONG! If you are financing a home for $100,000, for 30 years the difference would cost you more than $100,300 in additional interest paid. 

Not to mention that having bad credit can affect everything you do, from higher insurance premiums, employment, and being required to put down deposits on small purchases such as cell phones, utility service, and much more!   

Quick Tips for Ensuring a Better Credit Score 

Keep your credit card balances under 30% of the total available credit limit.

Utilizing over 30% of the total available credit limit begins damaging the credit scores more and more as the balance continues to grow. 

Do Not Avoid Debt Collectors   

One of the biggest mistakes you can make is avoiding a letter or call from a debt collector.  This is the main reason that the collection agencies get away with reporting invalid debt to your credit.   

Pay Your Bills on Time 

Paying all of your bills on time each month can save your thousands of dollars in late fees and interest payments, not to mention the fact that your payment history is 35% of your credit scores.  Make sure to have all bills that report to your credit on a monthly basis set up on auto pay to avoid forgetting or missing a payment.  The reason that this is important is because if you miss a payment on a bill that does not report to your credit on a monthly basis (utility bill, internet and phone, cell phone, rent, utilities) you are subject to a late fee but not a late payment reported to your credit report.