When you understand the 5 factors that are used to determine your score, you are able to begin working on each to improve your score.* Most people with great credit have no idea how it got that way.
So even if you have great credit already, this is a lesson you will not want to miss if you plan on keeping your credit high in the future.
You’ll also learn what actions are the most important if you want to qualify for a loan in the near future. I had planned on working another 5 years, so this lowered my income, with too much credit card debt.
It’s frustrating to most people when they find out that just paying bills on time is not enough to insure that you will have an excellent credit rating. In December, I went a little crazy for the holidays and opened department store credit cards and of course spent more than 50% of my credit limit. At first I was a little depressed, but not so worried. I bought the CSP program to help me dig out of my hole.
The Credit Solution Program is a unique system that aims to educate with engaging videos that are both informative and fun to watch.
The content on the site and in CSP products is created by Mike Roberts and a team of subject matter experts.
Finally, you have to understand how to deal with any problems on your credit report. Negative items like inquires, late payments, collections accounts, judgments, or even bankruptcy. You’ll learn how to approach each negative mark based on your own report. Here we lay the foundation, so that you have the proper mindset to continue.
Do you know all the factors that go into calculating a credit score?
Yes, in order to have the highest possible score, you have to actually plan out a strategy that the credit scoring model views as low risk. An old lien and old collections my ex was responsible for.
This means having the right number of credit cards and mix of credit types. With this process, I have cleaned up my credit, raised my credit score from 556 to 657 and I am now about to close on my first house ever. Getting rid of these helped raise my score and helped me get a new car.
Understanding how to interpret all of this information about you is the first step toward improving it.
In the past 3 years, we have provided education to over 1.2 million people about credit and financial health topics.