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CREDIT INFO

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Credit Basics: What You Need to Know

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Your credit score and report play a big role in your finances. They determine if you can get loans, credit cards, and other types of credit, as well as what interest rates you'll pay. Here's what you need to know to make informed decisions about your credit.

 

Credit Score Ranges

  • A credit score ranges from 300 to 850

  • The most widely used credit score is the FICO score

  • A good score is 670-739

  • An excellent score is 800-850

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Credit Report vs. Credit Score

  • A credit report is a record of your credit history, including information about your credit accounts, payment history, and negative items like late payments

  • The three main credit bureaus are Experian, Equifax, and TransUnion

  • A credit score is a number that shows how likely you are to repay debt based on your credit report

 

Factors that Affect Your Credit Score

  • Payment history (e.g. paying bills on time)

  • Credit utilization (e.g. how much of your credit limit you're using)

  • Length of credit history (e.g. how long you've had credit accounts)

  • Types of credit accounts (e.g. credit cards, loans, mortgages)

  • Hard inquiries (e.g. when you apply for credit)

  • Debt-to-income ratio (e.g. how much debt you have compared to your income)

 

Get Your Credit Report

 

Credit Repair Services

  • Credit repair services can help you improve your credit score

  • They can negotiate with creditors and credit bureaus, monitor your credit report, and provide credit counseling and education

 

Credit Myths

  • Checking your credit report will not lower your credit score

  • In fact, checking your credit report regularly can help you catch errors or potential fraud

 

By understanding your credit score and report, you can make informed decisions about your finances and work towards a better financial future.

 

Community Involvement At Total Credit Care Agency, we believe in giving back to the community. We actively support local organizations and initiatives, and are committed to making a positive impact in the Metro Detroit area.

 

FAQs

  1. How long does it take to improve my credit score?

  • Improving your credit score takes time, typically several months to a year, depending on the steps you take and the severity of any negative items on your credit report.

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     2.How often should I check my credit report?

  • It's recommended to check your credit report at least once a year, but checking it more frequently can help you catch errors or potential fraud.

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     3.How can Total Credit Care Agency help me improve my credit score?

  • Total Credit Care Agency provides credit repair services, including negotiating with creditors and credit bureaus, monitoring your credit report, and providing credit counseling and education. Our team of experts can help you improve your credit score and achieve your financial goals.

 

Contact Us If you have any questions or need assistance with your credit, our team is here to help. Contact us at (866) 783-3271, or visit our website at https://www.totalcreditcareagency.com/ for more information.

IdenityIQ Affiliate Link: We are also an affiliate of IdentityIQ, a credit monitoring company. To learn more and sign up for their services, visit https://www.identityiq.com/securepreferred.aspx?offercode=4312802A.

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