Why it is Important to Hire the Credit Repair Company to Repair Your Credit?

Credit repair companies help people repair their bad credit by a series of measures. Hiring them can simply be a good idea to raise your credit score is a surefire way. Credible credit repair companies can take the guesswork out of credit repair measures and utilize steps that actually work.

Here’s why it is important to hire a credit repair company to repair your credit.

Expertise

Credit repair companies have a team of experts in place to help with the task of repairing their clients’ credit. The expert Miami credit repair team aims to help the clients with a series of steps, which begins with an analysis of the credit reports. Many credible credit repair companies offer to analyze the credit reports of potential clients even prior to you hiring them.

The analysis of credit reports helps in identifying errors or outdated items listed in the credit reports. These items can be disputed in order to delete them from your credit reports. The experts will identify each piece of incorrect information on your credit report that could be lowering your credit score.

Once you hire a company, the experts will conduct a thorough audit of your credit reports to formulate an action plan to help you. They will begin to dispute incorrect or outdated information on your credit reports with the credit bureaus and the creditors.

At the same time, credit repair Orlando experts will help you take steps to apply for new credit accounts and take other measures to improve your credit score. They will continue to dispute and request for deletion of incorrect information on your credit reports until all of it is cleared.

Credit experts also guide their clients to take measures to reduce debt to keep the credit score high. They will provide you with guidance to keep your credit report from further damage once it has been repaired and even during the period when they are still working on it.

Experience

Credit repair companies have the necessary experience to work with different clients trying to repair their credits due to varied reasons. You may need a more stringent process for repairing your damaged credit than another person. So, the measures taken for your credit repair plan can differ from strategies incorporated for other clients of the company. It is no use to take steps that cannot help you. So, cookie-cutter measures do not help.

Credit repair experts have the experience to analyze and audit credit reports with different kinds of errors and then formulate careful strategies needed to help each client.

Persistent Work

It takes time to repair bad credit. It doesn’t happen within days or weeks. Credit repair companies work persistently on your behalf until the job is done.

It requires constantly analyzing your reports after every deletion. Credit bureaus or other creditors may not be so forthcoming in deleting all disputed information from your credit report in the first attempt by the credit repair company (on your behalf). Credit experts will check the new reports they receive from credit bureaus after the first attempt and then identify incorrect or outdated information still present on the reports. The process will continue until all of the incorrect or outdated information is deleted from your credit reports.

Such work needs to be done every 30-45 days for an entire year or so to yield optimal results. The time frame to improve your credit can be more or less. But usually, it requires close to a year to remove all incorrect information from your credit reports and improve your credit score using credible measures.

The work that needs to be done requires clear and persistent communication with credit bureaus and creditors.

To Sum Up

You may not know how to analyze credit reports for errors or have the time to do so. Instead of trying to attempt to do it on your own and delay repairing your credit; it is best to hire experts for the job. In fact, you can even end up damaging your credit history further by using less-than-ideal measures to repair it.

Adding Authorized Users to Your Credit Card

Ever thought about adding your child as an authorized user to your credit card? Or have you ever just wanted to help a friend or family member who is dealing with bad credit? Whatever your reasons may be, adding someone else to your credit card is a pretty easy and straightforward process. And the best part? You can even get paid to do it and it is totally legal.

Adding an authorized user to your account can help you make some extra cash – $400 to $2,000 plus per month, depending on your cards. The authorized user do not receive a credit card to use, it is simply a means to boost their credit score. A few things to consider:

• Quite simply, it’s a win-win for all parties involved. By adding an authorized user by selling your tradeline to a reputable tradeline company, this company will in turn pay you for your tradeline. The tradeline company already has people who are looking to become an authorized user by purchasing a tradeline. Once a person purchases a tradeline, they win because they’ll have the benefit of your credit history being placed on their credit report to boost their credit score, thereby increasing their chances of being approved for any type of loan or line of credit they apply for.

• Authorized users have certain account restrictions. Authorized users when added via a tradeline company are restricted from certain account activities. For example, authorized users don’t have access to your actual credit card and they won’t receive one either. As a result, they cannot carry out account maintenance activities like making purchases, adding other users, changing the contact information on the account, etc.

• Authorized user have no legal liability to the account. Authorized users are not legally responsible for any purchases charged to that account. In the case of a sold tradeline, you’ll still be the only person able to make a purchase anyway, so there’s nothing to worry about here.

• Authorized users do not need a credit history. The credit card company will not run a credit check on the authorized user when you add them to your credit card. This is why becoming an authorized user is a great option for people who have a bad credit history or no credit history at all.

Adding a New User to Your Credit Card

Now that you know all the basics about authorized users and what adding them to your credit card could mean for you, here are a few tips on how to add authorized users to your credit card.

• The first step to adding an authorized user to your credit card is gathering all the information. In the case where you are selling your tradeline and adding an authorized user, the tradeline company will provide you with all of the information you need to add an authorized user. You’ll be provided basic information such as the person’s name, their date of birth, their social security number and some other information depending on what your credit card company requires.

• The next step would to add the authorized user. For some credit cards, this can be quickly and easily done online if you have your account setup online. However, some other credit card companies might need you to call them. Whatever your credit card company requires, it usually is easy, meaning the process is fairly quick. In fact, if you can do it online, all you’ll have to do is log into your online account and search for the right menu option. The menu option usually says something like “authorized users” or “add another user”.

• Once you click on the link, the next step would be providing all the information of the user you want to add – the information the tradeline company provided you with. After doing that, click on the submit button.

If there was ever a way to do some good for someone else while also benefiting financially, adding an authorized user is by far the absolute best way to do it. Since the authorized user will not have any access whatsoever to a credit card, account information, or know who you are, in addition to the fact that you’ll continue using your credit card and making payments on time anyway; you may as well go ahead and get paid for it. It’s the fastest and easiest way to passively add several hundred dollars a month to thousands of dollars a month in income.

The great thing about this is that when you sell your tradeline for the purposes of adding an authorized user simply to help the other person boost their credit score, all of the hard work has been done for you. Once your tradeline has been purchased, you’ll receive either a phone call or an email providing you with the information you’ll need to add the authorized user to your credit card. That user has no access, but you’ll get paid by the tradeline company for adding that person as an authorized user.

Credit Tradelines

There are several ways to boost, repair or simply improve the overall quality of your credit score. More traditional means include taking out small personal loans and paying them back over time. Also, you can take out a secured credit card and slowly repair your credit if you have a lower credit score.

However, the issue with these is that if you have a damaged or low credit score, it can be difficult to obtain a credit card or installment loan. An effective way to boost your credit score and make obtaining a loan easier is utilizing a credit tradeline.

A credit tradeline allows you to become an authorized user on a line of credit, giving you the ability to reap the benefits of that line of credit. With that comes a variety of options and we’ll go into greater detail on how a tradeline works.

How it Works

As stated, using a tradeline will allow you to become an authorized user on an established line of credit. What that means for you is when that credit card reports to the credit bureaus, your name will be associated with that line of credit and the full history of the tradeline will show on your report.

However, when you are an authorized user for the purpose of improving your credit, you do not have access to that line of credit, you do not have the ability to alter any information and you will not see whose line of credit it is. You simply reap the benefits of a well-established, healthy line of credit.

Age of Credit

When searching for the right tradeline, you will notice there are lines of credit that have been around for a year, all the way up to several decades. The age of the line of credit will dictate the premium you pay for that tradeline, as well as how it will boost your credit score.

An aged line of credit will benefit your score by adding payment and age history, and will show lenders you can maintain debt and use it in a responsible manner.

Size of Credit

The other part of the credit tradeline to consider is the size of the credit limit. If you go for a tradeline with a higher line of credit and small balance, your credit utilization can be lowered greatly. Same can be said for a smaller line of credit, it simply depends on your current credit situation.

For example, if you have $10,000 worth of credit and you are using $9,000 of it, you have a 90% utilization rate. However, if you add a credit line with a line of credit of $20,000 and zero balance, you are now reporting $30,000 worth of credit, utilizing $9,000 worth, thus lowering your percentage to 30%.

With these three details, you’ll be able to find the right tradeline for you. Keep in mind, the more established a line of credit, combined with a higher limit, the greater premium you’ll pay. By paying that higher premium you’ll likely see a spike to your credit score.

How Can Tradelines Boost Your Credit Score?

Tradelines refer to credit accounts mentioned on credit reports. One example of a tradeline is your credit card; others are your bank loans such as for houses, vehicles, and others. If your credit score is low or you don’t have enough credit due to your age, you can utilize tradelines to boost the figures. One way to do so is to work with the best tradeline companies in your area.

Credit Score – the Highs and the Lows

To calculate a person’s credit score, several factors are taken into account by authorized agencies. These can be your payment history, debt, new credit, types of tradelines, length of credit history, etc. Essentially, through your credit score, creditors are assessing the risk of lending you the money.

Many times your credit score can be low even if your payment history is perfect. It can happen if you have opened new tradelines close to the timeline of applying for a loan. If you have recently started working, the length of your credit history will be short and it can affect your credit score. Whatever may be the reason for having a low credit score, you can boost it with tradelines.

Boosting Credit Score with Tradelines

In order for tradelines to improve your credit score, the account will need to be ideal for the purpose. For instance, if you are using a credit card as the tradeline to boost your credit score then the person owning it would need to have the perfect credit history related to that account.

Tradelines can increase credit score as the good credit from the account will reflect in your history. It will happen if you are declared as an authorized user to a credit card with a low balance, high limit, and no problems with its payment history. The good history of the tradeline then can reflect in your credit history as well and boost your score.

It is a perfectly legal way to boost your credit score. It is akin to a person adding the name of their children or spouse to their credit cards in order to give them a boost in terms of their credit score. Here, instead of using a family member’s or relative’s tradeline, you will purchase it via a credit repair company.

The nitty-gritty

You can purchase one or multiple tradelines as per your unique requirement. Before you buy tradelines, you can inquire about the credit limit available for that account. You should also check the duration of the credit history for the tradeline you wish to purchase. Some tradelines will be perfect for those just entering the workplace and starting to build their own credit history. Others might be ideal to rectify a problematic score.

To make the tradelines work for you, it is crucial that you deal with only authentic credit repair companies. The best tradeline companies will always maintain a proper website with correct details about their products. So, do your due research before purchasing tradelines from any company out there.

To find the best tradeline company in your area, conduct an online search for a list of names. Check the websites of a few companies on your search list.

Check if the details about their products are listed on the website for the benefit of their prospective clients. It is an important factor as you wouldn’t want to have any surprises along the way in terms of what is promised to you in a tradeline for what you have paid and what you receive in reality. It is best to choose a tradeline company that lists their offerings and relevant details for the same clearly on their website. Also, see if their office address and other contact details are present on their website or not. It is best to stay away from tradeline companies that do not display information about their business on their websites. You can also check the authenticity of a company by calling them directly and assess the kind of support they provide you. If they are courteous and responsive to your queries then it is always a good sign. If you find them suitable in other above-mentioned aspects as well then you might have found a good tradeline company for your needs.

Six Proven Methods to Increase Your Credit Score

To build a robust credit score, you need to implement good strategies in terms of your accounts, spending habits, and payments.

If your credit score is low, it can be difficult for you to get loans. Many employees do not even hire new people without getting a full report of their credit history. If it is less-than-ideal, it can become problematic for those looking for jobs. So, it is important to have a plan in place to boost your credit score and keep it at an optimal level.

Consider these six methods to increase your credit score.

Timely Payments

To boost your credit score, you need to be current with your loan payments. Timely payments account for a big chunk of your credit score. Often, credit bureaus accord it the most significance when determining your credit score. So, ensure that you do not miss your credit card and other loan installment payments.

Timely payment on your loans can be one of the quickest ways to increase credit score.

Tradeline Purchases

The quickest way to increase credit score is to purchase a tradeline or two from authentic credit repair companies.

Tradelines are accounts that show up on your credit reports. If you become an authorized user on a credit card with good payment history and balance then its history will also reflect on your credit reports. So, you will also begin to reap the benefits of the good credit history of your new tradeline.

Many people aim to become authorized users on a family member’s credit card provided the account is solid in terms of its credit history. But the problem with such arrangements is that if that person defaults on a payment or accrues bad credit on the account, it will reflect on your score as well. But if you purchase tradelines from genuine Miami credit repair companies then you can ensure that you won’t have to face such risks.

Low Credit Card Balances

It is important to maintain good balances on credit cards to have a good credit history. Such a habit will establish you as a responsible borrower. It is best to pay the credit card bills in full rather than continue to incur interest on the remaining amount after you pay the minimum amount due on your bills.

The lower your debt on the credit card, the better it is for your credit score. It is fine to not pay the full amount due on the bill every now and then. During emergencies, you might even need to skip on it. But ensure that it doesn’t become a regular thing. If you continue to keep low balances on your credit cards, in time your credit score will improve and will continue to increase with every billing cycle.

Active Accounts

Often, people tend to close their accounts after years of use if they don’t need it anymore. But if you have an account with a good credit history, closing it would mean losing out on a good chunk of robust numbers on your credit score.

Close your accounts that accrue a fee after some time once you have other accounts active. But if you can afford to keep even secured accounts active and open for a long time, it can go a long way to boost your credit score. It is best to not close your free accounts at all if you have been using them for a long time or if they have a good credit history.

Multiple Accounts

To increase your credit score, it is important to not rely on one account only. It is best to maintain a mix of different accounts in order to build a solid credit history.

Making timely payments on more than one account is better to establish your credibility as a borrower than just one.

New Account Openings with Intervals

Yes, multiple accounts can help to increase your credit score. But opening them all within a short span of time can hurt your case.

The reason for it is that every new type of credit inquiry diminishes your credit score. So, it is best to spread out applying for different types of loans by six months at least.