Watch Our Video: Credit Repair How To in 5 Minutes!
Posted on March 2, 2011
A credit score of 680-700 used to be enough to get great loans and mortgage rates, as well as credit cards with low APRs, but since the Financial Crisis of 2008, many lenders have raised their expectations of consumers, making it hard to get good loans and credit extensions with a score under 720-730. To obtain scores of that caliber, one must not only be financially responsible with paying on time, but also cautious in the utilization of credit.
According to MyFico.com, nearly 37 percent of Americans are carrying $10,000 or more of non-mortgage-related debt. Large debts with credit cards and installment loans not only eat away at your pocket book through interest, but can also hurt your credit score. Understanding how your credit score is generated is an initial step in restoring and improving your credit score, which can be found by clicking the pie chart on the left side of this page.
Once you have a general understanding of what affects your credit score, you can start implementing strategies you learn from CreditRepair.org that will likely raise your score over the coming months and years. Though doing so will take some discipline and vigilance, the payoff is entirely worth the effort.
The basic methods of credit repair, as described in the video above, should set you on the path toward achieving a solid credit score, but it doesn’t end there. Much more information is available in our detailed articles, found below, so please feel free to explore the site!