Hello everyone. My wife and I are curious if anyone has any good feed back on the companies that claim to "fix your credit" I googled a few, some claim to increase your score 130pts in 30 days for $29. Does anyone have good feed back? i.e. our credit is in high 600's low 700's last we checked so not to far off the 720 bench mark.
Your credit at the high 600s does not need to be fixed! Take a look at the report and see if there are one or two items that can be fixed. Do you have a parking ticket that went to warrant? Cell phone charge off? Charge offs need to be paid before you can get a home loan. If you have credit cards don't close them. Make sure all revolving debt is paid down to 50% or less. Dispute late payments.
That's a start,
@Terry Lewis is spot on with his recommendations. If there isn't anything incorrect on your credit report, there isn't anything that these companies can do. Whatever you do, do not take out more debt, or open up more credit cards as a way to quickly increase your credit score by lowering your overall % of debt used. I have heard this preached alot by some folks in the finance world, but with your as high as it is now, you shouldn't have any issues with loans.
I've never used them, but Lexington Law has been highly recommended for for years. Cost $100+ per month and must use for over a year to see results.
Personally, I say use that money to pay your bills. Get book after book from library and diy.
Should have one to three credit cards. (not less, not more). Must keep credit card balance at NO more that 50% of credit limits all month long. 30% or less is best. Use the cards. pay them off. get a small loan and pay it off on time or earlier. do what the books tell you. It might that a while but, it can get better. Do what I mentioned to see that fastest results.
BTW, I do spend ~$20/month for privacyguard.com
just my two cents worth.
btw, address only what is on credit report. If it is not listed on credit report, deal with it last, not first.
again, just my two cents worth
@Terry Lewis I actually just paid an out of state ticket last week that was over due, I was not aware that could have an effect on credit but it make sense. Would me paying it off a quick effect to drive my score back up? I keep all of my CC below 30% and always pay on time.
@Mike Sattem The reason my score got so low in the first place was because I had such little credit and I had a mix up literally of under $30 not paid on a business account I share with a business partner of mine. My score was slightly under 800 a month before closing on my current residence last July 2013, it dropped to 620 (very scary for us). Since then my wife and I opened 3 credit cards to build credit. Unfortunately one was opened about 2 months ago. Since purchasing we have not been late on any CC and all mortgages payments have been on time.
@Debra Leeson great advice thank you. I personally am on 5 CC and my wife has five as well. We share 1 card, a total of 9 CC between us.
If you already have 9 CC between you & wife, I do not think closing them would be advisable. Closing CC cards can lower you score unless they are extremely new cards. It's. important to maintain lengthy accounts.
Just my two cents worth. I'm not expert. Just my opinion from a couple of decades of learning.
Those companies use an old trick. Dispute everything and credit score temporarily increases. But, then returns. The biggest killer to score is collections and any credit card that Is above 30% balance to credit limit. Don't close the credit cards. Stop opening accounts. Length of credit matters as well.
For sure I will not be closing any cards. I am justing going to keep them low balanced and be patient.
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