CREDIT
WHAT IS A GOOD CREDIT SCORE?
Credit bureaus consider a good credit score as anything above a 650. Learn more on what makes a good credit score.
HOW MANY CREDIT SCORES ARE THERE?
Your FICO® Score is used in 90% of all lending decisions, but each of the three credit bureaus also have a customized credit score based on your credit information. Click here to learn more
WHAT IS THE RANGE OF CREDIT SCORES
The main credit scores range from 300 – 850. Click here to learn more
HOW MANY CREDIT BUREAUS ARE THERE?
Equifax, TransUnion and Experian are the three main credit reporting bureaus. Click here to learn more
WHAT IS A CREDIT BUREAU?
A credit bureau is a company that collects information relating to your financial habits, and makes this information available to lending institutions and credit card companies. Click here to learn more
WHAT IS A CREDITOR?
A creditor is someone who provides credit. This includes, but is not limited to, banks, collection agencies and even car dealerships. They report your repayment progress to the credit bureaus, who then use that information to build your credit profile.
HOW CAN I FIND OUT WHAT MY CREDIT SCORE IS?
There are plenty of paid services that will provide you with your credit score, but at CreditZap, we’ll do it for free. Just give us a call at 1-219-465-8741 to get started. Click here to learn more
IS MY CREDIT REPORT THE SAME THING AS MY CREDIT SCORE?
No, your credit score is just one component of your credit report. Your credit report also includes your identifying information, trade lines, credit history, credit inquiries, public record, collections and other late payment information. Click here to learn more
WHAT AFFECTS MY CREDIT SCORE?
There are five main contributors to your credit score—payment history, credit usage, credit age, credit mix and recent credit. The most important of these factors is your payment history, which can be directly influenced by credit repair. Click here to learn more
WHATS ON MY CREDIT REPORT?
Your credit report contains things like your identifying information, trade lines, credit limits, account names, credit history, credit inquiries, public record, collections, late payment information, and of course, your credit score. Click here to learn more
DO EMPLOYERS LOOK AT MY CREDIT SCORE, COULD IT COST ME A JOB?
Employers are allowed by federal law to see a modified version of your credit report for purposes of hiring and promotion, though in California this is limited to jobs with financial or management responsibilities. Your employer, or potential employer, is required to get your permission before accessing your credit report, but yes, it could cost you a job or promotion.
WHAT IS A GOOD AVERAGE AGE OF CREDIT?
While your credit age, or how long you’ve had access to credit, can affect your credit score, there’s no specific amount of time required. Generally, the longer you’ve had a trade line, the better. Click here to learn more
WHAT SCORE DO I NEED TO GET A HOUSE?
There are many factors that go into being approved for a loan, but generally you’ll need at least a score of 650 to be approved for a home loan. With car loans and personal loans, the minimum accepted score will depend on the amount of money being requested. Some lenders will approve scores as low as 500, assuming you don’t mind paying extra money in interest. Click here to learn more
WHAT SCORE DO I NEED TO GET A CAR?
There are many factors that go into being approved for a loan, but generally you’ll need at least a score of 650 to be approved for a home loan. With car loans and personal loans, the minimum accepted score will depend on the amount of money being requested. Some lenders will approve scores as low as 500, assuming you don’t mind paying extra money in interest. Click here to learn more
WHAT CREDIT SCORE DO I NEED TO GET A PERSONAL LOAN?
There are many factors that go into being approved for a loan, but generally you’ll need at least a score of 650 to be approved for a home loan. With car loans and personal loans, the minimum accepted score will depend on the amount of money being requested. Some lenders will approve scores as low as 500, assuming you don’t mind paying extra money in interest. Click here to learn more
WHO LOOKS AT MY CREDIT?
Your credit report is generally looked at by those who are considering loaning you money. This includes banks, car dealerships and credit card issuers.
HOW CAN I IMPROVE MY CREDIT?
There are five factors that impact your credit score—payment history, amount of debt, length of credit history, credit mix and new credit. To improve your score, you can pay your bills on time, pay debt down, maintain your current accounts, get different types of credit and avoid applying for new credit frequently.
Beyond these five factors, your credit reports could contain negative items that are unfair or inaccurate, which can stay on your reports for up to 7-10 years. If you don’t want to wait that long to build your credit, you can try repairing your credit. Call CreditZap at 1-219-465-8741 to get started. Click here to learn more
Beyond these five factors, your credit reports could contain negative items that are unfair or inaccurate, which can stay on your reports for up to 7-10 years. If you don’t want to wait that long to build your credit, you can try repairing your credit. Call CreditZap at 1-219-465-8741 to get started. Click here to learn more
WHAT IS A FICO SCORE?
Your FICO® Score is a three-digit number determined by the information on your credit report. While FICO® doesn’t collect the data themselves, it’s their algorithm that determines your score. Considering their score is used in 90% of all lending decisions, it’s very helpful to know where you stand. Click here to learn more
HOW DO I GET MY FREE CREDIT SCORES?
By law, the credit bureaus have to provide you with a free credit report every 12 months. You can claim this free credit report from http://www.annualcreditreport.com/, or by calling 1-877-322-8228. You will need to provide your name, address, social security number and date of birth to verify your identity.
Outside of this official source, there are many free services that will provide you with your credit score. In fact, you can call CreditZap at 1-219-465-8741 and we will provide you with your score and credit summary, all for free. Click here to learn more
Outside of this official source, there are many free services that will provide you with your credit score. In fact, you can call CreditZap at 1-219-465-8741 and we will provide you with your score and credit summary, all for free. Click here to learn more
WHAT IS A BAD CREDIT SCORE?
Credit bureaus typically rank anything below 580 as a bad credit score. Click here to learn more
CREDIT REPAIR
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