I wanted to take a minute and give you a quick overview of what the Credit Bureaus really look at when they calculate your credit score since we’ve primarily gone over tips and strategies to improve your score so far.

Realize that this is just an outline of guidelines they claim to use and that access to the actual algorithm they run each credit file through to produce a score is known by few people on earth. And even if they know about it doesn’t necessarily mean they understand it or can explain exactly how it works, too!

Also, it helps to know that the WHOLE reason the credit scoring system was created was to help creditors calculate what your chance of defaulting on a loan given to you would be. Read the rest of this entry »

There are a number of services that offer to have you track your credit report activity and get your credit scores, too. The problem with these services is that they charge upwards of $10-$20 per month. I don’t know about you, but I think it’s criminal to charge me to
access information about myself that someone else has created and that affects my financial life more than anything else in the world.

So paying $200+ a year to get access to info about myself is absurd. Read the rest of this entry »

By now you’ve hopefully learned a thing or two about how to improve your credit report and score and things to avoid wasting your money on. Today I want to walk you through the process to find out the exact steps you need to take that will make your credit perfect…
all without spending a single penny.

You may have heard that the government now requires the three credit bureaus to give everyone a free copy of their report once a year, but you don’t know exactly how to do this. There are plenty of commercials on TV offering you the free report, but when you go to their website Read the rest of this entry »

Now that you’ve Opted-Out and reduced unnecessary access to your credit report that will result in a higher credit score, let’s focus on another strategy that will keep you from damaging your score inadvertently in the future.

Creditors are very crafty with their messages and strategies to get you to charge up more debt and fill their accounts with interest fees, late fees, over limit fees, and annual membership fees. One of the most creative ways they do this is with the ‘No Interest, No
Payments’ offers they make through retailers like Mor Furniture.

How do you think they can get away with making these offers and still make money on them? Read the rest of this entry »

I know that I have given a lot of background info and have busted the myths of how to perfect your credit in the past few days, so today I want to give you something that can be implemented immediately, will create results, and won’t cost you a single penny to do it.

There is a secret arrangement that creditors have with the credit bureaus to gain access to your credit report without you ever knowing about it. This arrangement is setup so that the creditors can select prospective clients to send specific offers to and increase the results of their advertising. It’s what causes your mailbox to fill with ‘pre-approved’ credit offers that you’ve never applied for and didn’t come from having a prior relationship with that creditor.

The creditor doesn’t get access to your complete credit report, but they get enough to find out if you’re in the ballpark of their ideal client profile and can match an offer to who they think you are. There are multiple problems with this situation. Read the rest of this entry »