Texas Credit Restoration Services
Build My Scores, a trusted credit repair company, is committed to providing effective solutions for credit restoration. Our credit repair specialists leverage proven expertise in filing credit disputes and in-depth knowledge of federal and state laws, to deliver effective solutions tailored to the financial dynamics of our clients. We collaborate with a multitude of referral partners, including real estate, banking, and mortgage professionals, to help ensure sustainable good credit scores and history.
How is a Credit Score Calculated?
Credit scores are calculated by factoring in years of financial behavior; not just your recent transactions. The factors include your payment history, outstanding debts, length of credit history, types of credit available, and new credit applied, among others.
How Credit Restoration Works
Consumers struggling with a poor credit score need to implement some long-term changes in their financial behavior for effective credit restoration. You also need to keep in mind that improving your credit score may take several months, if not years. To expedite credit repair, here are a few tips.
Manage Credit Limit
One of the most important factors that influence your credit score is the ratio of the available revolving credit and the used amount; the smaller the gap, the better your credit score. Ideally, the debt to credit ratio should not be higher than 3:10. To boost your score further and restore your credit, maintain your balances as low as your income allows.
Begin Using Multiple Credit Cards
Don’t make all your charges on just one credit card and max out the limit. The credit card companies report on your billing cycle and not your payment cycle. You may pay your card off each month, but this will not reflect on your credit report. If you can charge on several cards and keep balances under 20% of the limit, this will help. If you want to use one card because of rewards, start making multiple payments a month to keep the balance to limit ratio low.
Maintain Good Debt on Your Credit Report
If you recently bought a home or car and made all the monthly payments on time, do not rush to get these items off your report. Allow these to remain on your report for as long as possible, as any history of timely debt repayment is always good for your credit score.
Plan Before Applying For Credit
Thorough planning must go into your decision to apply for credit, especially in cases of high-value transactions, such as buying a house, car, or paying college fees. It is important to make sure you can afford the monthly payments that come with using credit. Do this for at least a few months, so that your credit report reflects positive financial behavior, thereby restoring your credit score.
Where to Get Started?
To begin the credit restoration process, start by requesting your free credit report and get it evaluated for errors and inaccuracies. According to a report published by the US Public Interest Research Group, 70 percent of all credit reports contain inaccuracies. So, it would not be a surprise if your report also contains errors. The best way forward: seek professional help.
Deploy Proven Expertise in Credit Restoration
If you can identify errors or some unverifiable data is reflecting on your credit report, Build My Scores is here to help. To get these errors removed from the report, we help you file an audit with all three major credit bureaus, the creditors, and collection companies. Our team of credit restoration professionals specializes in sending flawless audit letters that command prompt response and processing.