Amber
Credit Repair SpecialistForum Discussions Started
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How to calculate your credit card utilization.
Balance Owed ÷ Credit Limit × 100 = %
2 IMPORTANT DATES (Due Date & Statement Date)
Due Date-The date it MUST be paid to avoid any late fees.
Statement Date-This is the date they will REPORT to the credit bureaus. Why is this date so important?! Whatever balance is reported on this date is what they will report to the credit bureaus. Make sure your balances are LOW (3%-8%) about three days before the statement date. Remember, statements dates can change because they are on a cycle (29 day, 30 day etc. ). Be sure to check your statement for your current statement date
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The link below is for our Basic Credit Bootcamp. This is a short, very basic overview of credit. It is a great refresher and has some great tips included throughout the video. ENJOY and we hope you find something of value! If you have any questions, please feel free to reach out
http://www.thecreditcouple.net/bootcamp
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Inquiry removal is NOT as easy as it was in the past. Most of the time, the credit bureaus are requiring a police report to prove identity theft. I have attached a letter below that sometimes works to remove some inquries. Remember, inquiries stay on the credit report for 24 months, but only lower the score for 12 months. Also, there is no score impact when the number of inquiries is under 5 for a particular bureau.
[Your Name]
[Your Address]
[City, State ZIP Code]
[Date]
[Credit Bureau Name]
[Credit Bureau Address]
[City, State ZIP Code]
Re: Round 1 Inquiry Removal
To Whom It May Concern,
I am writing to request the removal of a recent inquiry from my credit report. The inquiry was made by [Name of the company] on [Date of inquiry] and it was for [Purpose of inquiry].
I would like to clarify that I did not authorize this inquiry, nor did I have any knowledge of it prior to reviewing my credit report. As such, I request that this inquiry be removed from my credit report as soon as possible.
I have enclosed a copy of my credit report with the inquiry highlighted for your reference. I kindly request that you investigate this matter and take the necessary steps to ensure that the inquiry is removed from my credit report.
Thank you for your prompt attention to this matter. Please do not hesitate to contact me if you require any further information.
Sincerely,
[Your Name]
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Let’s talk about a specific subject today!
CREDIT UNIONS/Community Banks
Credit Unions offer products to consumers and businesses!
Why I love Credit Unions and you should too:
Credit Unions offer many more credit BUILDING products than banks. They generally have secured loans and secured credit cards
Credit Unions are all about relationships. They are flexible! When you join as a member you are building a relationship.
Credit Unions often have Easier approval requirements than big banks and look at FICO 9 scores which are close to vantage scoring models (those on Credit Karma)
Credit Unions may not come with as many fancy rewards and offers like Chase, American Express, CapitalOne, etc. but they will give you credit cards and high credit lines.
They have a lot of money to lend
They are Great to get consumer credit cards and business credit cards.
Don’t just take my word for it, go apply the knowledge!
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Many clients come to us with the impression that their medical bills do not matter when it comes to home buying. They say that they were told that medical bills “don’t matter” or “don’t count”, leading them to believe that their score is somehow recalculated without the medical bills when buying a home. The truth is they DO count. If they are in collection status, they lower the credit score. They count the same as any other collection, even in the mortgage versions of FICO scores. Of course, what the lender actually means is that they do not count into the DTI, but the impression that a client gets is often incorrect. Medical bills can definitely lower the credit score, even to the point of disqualifying an applicant.