This is focused on the necessary aspects you must consider, ask them as questions and answer them honestly if you want to have your credit fixed in the most effective way possible. Whether you love or hate it, credit defines modern life—and great credit scores make it easier to get loans, credit cards, mortgages, and more. Unfortunately, consumers with fair or bad credit scores usually don’t qualify for the best credit deals. If you wonder how to fix your credit, you’re in the right place.
While everyone has their unique concerns, there are also many universal issues out there. So, we rounded up 10 of the more common questions asked and we answer them right here for you.
- HOW CAN YOU GET A COPY OF YOUR CREDIT REPORT?
Credit repair begins with a copy of your credit report. After all, without your credit report in hand, you won’t know what needs fixing, or how to fix your credit. Three major credit bureaus exist in the United States:- • Experian
- • Equifax
- • TransUnion
According to the Fair Credit Reporting Act, you’re entitled to a report every year from all three of the above-mentioned agencies.
2. How Can You Know Your Credit Score?
What you won’t find on any credit report is your credit score. That is where The Credit Sorcerer comes in. We incorporate an accurate compilation of your credit report which includes all three of your credit reports. You can also see FICO scores. Lenders use FICO scores most often to make yea or nay decisions. We also monitor each credit report so much so that when things change, you’ll receive an immediate alert. What Information Does a Credit Report Include?
3. What Information Does a Credit Report Include?
First on your credit report is your basic details—your full name, your date of birth, address, past addresses, and so forth. Next, you’ll see an informational breakdown for each line of credit you have. Account time, account age, number of payments made, missed payments, late payments, and other facts are all-inclusive. Payment history, credit utilization, credit type, account age, and credit inquiries all are found in your credit score.
4. What Are Errors On Your Credit Report?
Though they are hard to bear when it appears on a credit report, but it does not mean that it cannot be avoided or corrected. Genuine credit blunders are real. If you notice a mistake on your credit report, that is an error and needs to be fixed.
5. How Do You Fix Errors On Your Credit Report?
If you notice a mistake on your credit report, you have two options:
• Generate a dispute with the credit bureau online, on the phone, or via email
• Hire a credit repair company to do the heavy lifting for you (The Credit Sorcerer)
Many people take a DIY approach to minor errors. If you’ve been the victim of identity theft, on the other hand, you’ll probably need a professional helping hand. Contact The Credit Sorcerer to get it fixed for you.
- How Quick Can You Raise Your Credit Score?
Credit bureaus are committed to respond to disputes within 30 days and have to remove erroneous information immediately, so if you report a genuine error, you could see your score change for the better within a month depending on other factors in your credit report. - How Can You Maintain A Healthy Credit Account?
Try your best to make your payments on time. A full 35% of your credit score depends on your payment history, and just one missed or late payment can knock you down a grade. Late payments can stay on your record for a full seven years, so try your best to stay on schedule. - How Can You Maintain A Balanced Debt-To-Credit Ratio?
Got a $5,000 credit limit on that new card of yours? Don’t spend it all at once. In fact, don’t spend it all—ever. Instead, keep your credit utilization to a minimum—never more than 30%—to improve your credit score. In a nutshell, up to 30% of your credit score depends on this type of self-control.
Credit utilization—or debt-to-credit ratio—is all about proof of responsibility. When you keep your credit utilization between 10 and 30% of your total available credit, lenders see that you’re a responsible consumer. If you have a $5,000 credit limit on your card, for example, don’t spend more than $1,500 in any month.
- How Can You Review The Age Of Your Credit Account?
Bureaus look at all your accounts and calculate an average to come up with your credit age, so try not to close your oldest credit cards or lines of credit. Roughly 15% of your credit score hinges on your average credit age.
If you’re new to the credit world, apply for a credit builder or secured credit card and use it sparingly to begin generating a credit history. Credit builder loans can help in that regard, too. Over time, you’ll appear on each bureau’s radar, and you’ll become eligible for better credit offers. - What If You Cannot Do It Yourself?
You don’t have to do any of this by yourself. The Credit Sorcerer is a multifaceted solution which can help you build, guard, track and restore your credit profile. You deserve the best, let’s give you the best.
