Have You Made A Budget?

Get Better Credit We  Will Drive Your Score to the Highest Level   The Platinumcredit Newsletter August 12,2014

Budgeting...eek! Welcome to this edition of our newsletter created by Platinumcredit.info focused on providing you with real world useful credit and financial knowledge. With this newsletter, Platinumcredit.info keeps you up to date on service innovations, initiatives, industry news, and tips regarding your credit and finances.  The Platinumcredit.info team considers it a privilege to provide you with the best service possible! Budgeting... We all have to face it at some point.  When was the last time you filled out a detailed budget? If it's been a few years or if you never have, you've been neglecting one of the most powerful ways to help you improve your finances. How many of us look at our bank accounts at the end of the month, just to wonder where it all went? Without a budget, you may never know, or be able to stop that from happening at all. The process is really quite simple: write down all your sources of income, including earned income, self-employed income, family income, government income, retirement income and investment income. Add up all of your income to get your Total Annual Income. Next write down how much you spend in fixed expenses (auto-related, home-related, insurance, taxes, utilities, etc.) and flexible expenses (kids, clothes, donations, food, maintenance, medical care, recreation and entertainment, etc.) Write down as much as you can possibly think of. When you add up all of the Expenses, you will arrive at a Total Expenses figure. The final step is to take away the Total Expenses from the Total Income to determine your Total Positive or Negative Cash Flow. This is like taking a photo of where you stand financially. If you find yourself stuck in Negative Cash Flow, you must increase your income, reduce your expenses, or make some sort of combination of the two to prevent falling into major financial trouble (which eventually jeopardizes your credit rating). If you are in Positive Cash Flow, look at how you can maximize the return on the excess cash you are generating. One of the biggest problems in many people's budgets is what I call the "Mystery Cash" syndrome. You take $100 dollars out of an ATM machine and it's a total mystery as to where you spent that money. Track where you spend your money, and cut down on the mystery cash. Don't wait any longer to take control of your finances. With your budget in hand, you will now be able to take control your financial destiny. Another opportunity to increase your Positive Cash Flow is by reducing your interest rates. How? Simply contact your creditors and request a reduction in your interest rate. If your creditors can't based on your credit score, it's probably a good time to contact Platinumcredit.info Closing Notes Thank you for reading this month's newsletter We'll see you again next month. Platinumcredit.info was founded by industry experts who have spent their careers assisting consumers in understanding credit and how it affects them in their daily activities. Here at Platinumcredit.info, we firmly believe that clients and their results always come first.

Drive Your Score to the Highest Level

Platinum Credit We  Will Drive Your Score to the Highest Level You Can Break Out of Your Rut And Have The Credibility You Deserve. Get Out of Credit Hell ! There are plenty of benefits to enjoy when you have good credit: ·  Get a home loan--even in today's market--at an exceptional rate.  ·  Pay less than everyone else, for a better home. ·  Finance your "big ticket items", get what you need now without having to pay up front. ·  Actually get approved--at the lowest rate--for the car you want. ·  Keep hundreds of dollars every month by paying less toward interest! ·  Imagine getting back money that you're essentially throwing away each and every month! ·  Want to go back to school? Start a business? Or maybe apply for a better job? Take control of your life, and do what you want, without your credit labeling you. Instantly save money--a lot of money--by refinancing your home or car. Pay less and keep more every month! (You'll soon read about that person that saved almost $10,000 in payments on his car because of the incredibly low rate he/she was approved for.) ·  Low auto or health insurance rates. You could save 27% on your car insurance alone! Need help establishing credit? We will help you with that too. Create a solid track record of positive credit to really help boost your credit score.  Take Action Today & Force The Credit Bureaus to Delete All of Your Negative Credit Items! No Thanks, I don't care if I have all these negatives on my credit report.  I'll go through another year of hell making outrageously high monthly payments on EVERYTHING I buy and getting embarrassed every time I get turned down for a low interest loan or my credit card gets declined because it's maxed out.     Visit Us at www.platinumcredit.info NOTE:  If you are so far in debt that you cannot make all of your monthly payments and you are afraid of getting sued.  Not to worry. Platinumcredit.info will provide you the education and the information to deal with those annoying credit collection companies. Find out more about Platinum Credit Score’s great programs and promotions by contacting our customer support department at 916-842-7773or e-mailing us at johnljenkins820@gmail.com We look forward to working with you and wish you much success as an  Independent My Better Score Affiliate! Together we will MANIFEST EXCELLENCE! Your My Better Credit Score Team

Platinumcredit.info was founded by industry experts who have spent their careers assisting consumers in understanding credit and how it affects them in their daily activities. Here at Platinumcredit.info  we firmly believe that clients and their results always come first.

Changing My Life!

Ask yourself: How will your life change if your credit score jumps from a low 540 score to 740 or more?   

What if you went down to a car dealer and got approved for that ZERO interest loan and/or a 1.9% loan and were approved in minutes ... how would that make you feel? It's an unbelievable feeling compared to when the car salesman comes back to tell you your score is too low to even qualify for a high interest loan.

What if you put in a nothing down offer on that home down the street that has been sitting empty for 10 months and the bank approved a mortgage for you with monthly payments lower than what you have been paying for rent?

If you want these things to happen to you ... I mean REALLY want these things to happen then all you have to do is get plugged in to Platinumcredit! And the job will get done quicker than if you paid somebody else thousands of dollars or more to do it for you. 

No longer will you have to spend thousands of dollars. All the work that is required to force the credit bureaus to remove all of the negatives we have. A Simple solution, “Platinumcredit,” with our proven method will allow you to enjoy the credibility that is well deserved. Once your negative items are removed we'll guide you until you have a credit score in the 700’s, which in today’s market will qualify you for most zero interest car loans and the lowest rate mortgages. 

Credit Report Disputing is our Profession!
Visit us at www.platinumcredit.info

Find out more about High Credit Score’s great programs and promotions by contacting our customer support department at 916-842-7773 or 916-826-3442 or e-mailing us at johnljenkins820@gmail.com

We look forward to working with you and wish you much success as an Independent High Credit Score Affiliate! Together we will MANIFEST EXCELLENCE!

Your Platinum Credit Team

Disputing Credit Law

IMPORTANT:  We are disputing credit reporting law.....not whether or not an account is yours or not or whether the negative credit item is valid or accurate .......we are disputing whether or not the Credit Bureaus have that "verifiable proof" they are required by law to have on that account. So this is NEVER about what type or seriousness of the negative credit item we challenge..... YOU simply have a right to receive a copy of the Original Creditors Documentation that they are supposed to have in their files.

If we were to request that same verifiable proof from the "Creditor".....they usually comply very quickly and will oftentimes fax or mail you a copy of your account application/history within 24 hours.

That is fine.....but the creditor does not own the Credit Bureau Report......the Credit Bureaus do!

The credit bureaus are required by law to have a copy of that same verifiable proof in their files prior to reporting on that particular account. They are the agencies that are reporting your information to underwriters and Loan Officers....and Banks and so forth not the creditors. Under the FCRA 15 U.S.C. 1681.....the Credit Bureaus need to provide you a copy of verifiable documentation if it is requested by you the consumer.

We have NEVER RECEIVED a single copy of verifiable proof on even one single client account that we have requested from the Credit Bureaus.......NEVER! 

Obviously, They do not have any verifiable proof on file for any accounts!   Furthermore, all Credit Bureau reporting is done electronically. But that is NOT what the law says must be done. Take Action Today! 

You can start all over again with a clean credit report and a triple-AAA credit score ... able to get the lowest loan rates and credit card rates available to individuals with credit scores in the mid to high 700's. 

 You'll SAVE Yourself HUNDREDS OF DOLLARS a month for the rest of your life.

Find out more about Platinum Credit Score’s great programs and promotions by contacting us Nicole @ 916-826-3442 or John @ 916-842-7773

I  look forward to working with you and helping you regain your credit.

Credit Reports, Scores and Monitoring

Resources

Credit Reports, Scores and Monitoring

PrivacyGuard		PrivacyGuard  - Get instant 3-Bureau Reports, Scores and Monitoring. Get fast and secure access to your 3 bureau credit report, scores, credit simulator and credit monitoring.
CreditCheckTotal		CreditCheckTotal  - Get fast and secure access to your 3 bureau credit report, scores, credit simulator and credit monitoring.
Wells Fargo Enhanced ID Theft Protection		Wells Fargo Enhanced ID Theft Protection  - Get fast and secure access to your 3 bureau credit report, scores, credit simulator and credit monitoring.
Credit Karma		Credit Karma  - Get a truly free credit score from TransUnion. Includes a Credit Score Simulator. Only 1 report and score are provided (not 3) but with the helpful insight, credit simulator and no fee ever, this is a fantastic site.

FTC Facts for Consumers

• Credit and Divorce
  
  Mary and Bill recently divorced. Their divorce decree stated that Bill would pay the balances on their three joint credit card accounts. Months later, after Bill neglected to pay off these accounts, all three creditors contacted Mary for payment. She referred them to the divorce decree, insisting that she was not responsible for the accounts.
  Download the Complete Document
• Getting Credit When You’re Over 62
  
  Credit is an important money management tool for both young and older consumers. Yet the elderly, particularly older women, may find it difficult to get credit. If you’re an older consumer who has paid with cash all your life, you may find it difficult to open a credit account. That’s because you have "no credit history" of how you paid on credit.
  Download the Complete Document
• Fiscal Fitness: Choosing a Credit Counselor
  
  Living paycheck to paycheck? Worried about debt collectors? Can't seem to develop a workable budget, let alone save money for retirement? If this sounds familiar, you may want to consider the services of a credit counselor. Many credit counseling organizations are nonprofit and work with you to solve your financial problems.
  Download the Complete Document
• For People on Debt Management Plans: A Must-Do List
  
  Reputable credit counseling organizations employ counselors who are certified and trained in consumer credit, money and debt management, and budgeting. Those organizations that are nonprofit have a legal obligation to provide education and counseling.
  Download the Complete Document
• A Summary of Your Rights Under the Fair Credit Reporting Act
  
  The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records). Here is a summary of your major rights under the FCRA.
  Download the Complete Document
• Credit and Your Consumer Rights
  
  A good credit rating is very important. Businesses inspect your credit history when they evaluate your applications for credit, insurance, employment, and even leases. They can use it when they choose to give or deny you credit or insurance, provided you receive fair and equal treatment. Sometimes, things happen that can cause credit problems: a temporary loss of income, an illness, even a computer error.
  Download the Complete Document
• Before You File for Personal Bankruptcy
  
  The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 launched a new era: With limited exceptions, people who plan to file for bankruptcy protection must get credit counseling from a government-approved organization within 180 days before they file. They also must complete a debtor education course to have their debts discharged.
  Download the Complete Document
• Privacy Choices for Your Personal Financial Information
  
  Financial companies share information for many reasons: to offer you more services, to introduce new products, and to profit from the information they have about you.
  Download the Complete Document
• Credit Repair: How To Help Yourself
  
  You see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail, and maybe even calls offering credit repair services.
  Download the Complete Document
• Credit Repair: How to DIY and Avoid a Scam
  
  You see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail, and maybe even calls offering credit repair services.
  Download the Complete Document
• Debt Collection FAQs: A Guide for Consumers
  
  If you’re behind in paying your bills, or a creditor’s records mistakenly make it appear that you are, a debt collector may be contacting you.
  Download the Complete Document
• Advertisements Promising Debt Relief May Be Offering Bankruptcy
  
  Washington, D.C. — Debt got you down? You’re not alone. Consumer debt is at an all-time high. Whether your debt dilemma is the result of an illness, unemployment, or simply overspending, it can seem overwhelming. In your effort to get solvent, be on the alert for advertisements that offer seemingly quick fixes. While the ads pitch the promise of debt relief, they rarely say relief may be spelled b-a-n-k-r-u-p-t-c-y.
  Download the Complete Document
• THE FAIR CREDIT REPORTING ACT
  
  As a public service, the staff of the Federal Trade Commission (FTC) has prepared the following complete text of the Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq. Although staff generally followed the format of the U.S. Code as published by the Government Printing Office, the format of this text does differ in minor ways from the Code (and from West’s U.S. Code Annotated).
  Download the Complete Document
• Fair Credit Billing
  
  Have you ever been billed for merchandise you returned or never received? Has your credit card company ever charged you twice for the same item or failed to credit a payment to your account? While frustrating, these errors can be corrected. It takes a little patience and knowledge of the dispute settlement procedures provided by the Fair Credit Billing Act (FCBA).
  Download the Complete Document
• 'Gold' and 'Platinum' Cards
  
  If you’re looking for credit, be wary of some "gold" or "platinum" card offers promising to get you credit cards or improve your credit rating. While sounding like general-purpose credit cards, some "gold" or "platinum" cards permit you to buy merchandise only from specialized catalogues. Marketers of these credit cards often promise that by participating in their credit programs, you will be able to get major credit cards (such as an unsecured Visa or MasterCard), lines of credit from national specialty and department stores, better credit reports, and other financial benefits.
  Download the Complete Document
• Foreclosure Rescue Scams: Another Potential Stress for Homeowners in Distress
  
  The possibility of losing your home to foreclosure can be terrifying. The reality that scam artists are preying on the vulnerability of desperate homeowners is equally frightening. Many so-called foreclosure rescue companies or foreclosure assistance firms claim they can help you save your home. Some are brazen enough to offer a money-back guarantee. Unfortunately, once most of these foreclosure fraudsters take your money, they leave you much the worse for wear.
  Download the Complete Document
• Consumers Are Eligible For Free Credit Reports
  
  (NAPS)—Your credit report includes information on where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.
  Download the Complete Document
• The Federal Trade Commission
  
  The Federal Trade Commission (FTC) is the nation’s consumer protection champion. The FTC works for the consumer to prevent fraud, deception and unfair business practices in the marketplace.
  Download the Complete Document
• How to Dispute Credit Report Errors
  
  Your credit report contains information about where you live, how you pay your bills, and whether you’ve been sued or arrested, or have filed for bankruptcy. Consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.
  Download the Complete Document
• Take Charge: Fighting Back Against Identity Theft
  
  In the course of a busy day, you may write a check at the grocery store, charge tickets to a ball game, rent a car, mail your tax returns, change service providers for your cell phone, or apply for a credit card. Chances are you don’t give these everyday transactions a second thought. But an identity thief does.
  Download the Complete Document
• Choosing A Credit Card: The Deal is in the Disclosures
  
  A credit card lets you buy things and pay for them over time. Using a credit card is a form of borrowing: you have to pay the money back. When you are choosing a credit card, there are many features – and several kinds of cards – to consider: Fees, charges, interest rates, and benefits can vary among credit card issuers.
  Download the Complete Document
• Building a Better Credit Report
  
  If you’ve ever applied for a credit card, a personal loan, or insurance, there’s a file about you. This file is known as your credit report. It is chock full of information on where you live, how you pay your bills, and whether you’ve been sued or arrested, or have filed for bankruptcy. Consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses with a legitimate need for it. They use the information to evaluate your applications for credit, insurance, employment, or a lease.
  Download the Complete Document
• ‘File Segregation’: New ID Is a Bad IDea
  
  If you have filed for bankruptcy, you may be the target of a credit repair scheme called “file segregation.” In this scheme, you are promised a chance to hide unfavorable credit information by establishing a new credit identity. Th at may sound perfect, especially if you’re afraid that you won’t get any credit as long as bankruptcy appears on your credit record.
  Download the Complete Document
• The 411 on Disposing of Your Old Cell Phone
  
  If you own a cell phone, at some point you’re likely to upgrade to a newer model. But what should you do with your old phone? Options include recycling, reselling, and donating. Before you hang up your old phone for the last time, the Federal Trade Commission, the nation’s consumer protection agency, wants you know how to dispose of it properly.
  Download the Complete Document
• Time-Barred Debts
  
  There’s no doubt about it: you are responsible for your debts. If you fall behind in paying your creditors — or if you dispute the legitimacy of a debt — a debt collector may contact you. “Time-barred” debts are debts so old they are beyond the point at which a creditor or debt collector may sue you to collect. State law varies as to when a creditor or debt collector may no longer sue to collect: in most states, the statute of limitations period on debts is between 3 and 10 years; in some states, the period is longer. Check with your State Attorney General’s Office at www.naag.org to determine when a debt is considered time-barred in your state.
  Download the Complete Document
• Out of Work? How to Deal with Creditors
  
  It's become an all-too-familiar headline and lead story job cuts, dot.com failures, corporate restructuring and lay-offs. If you've recently lost your job, your first thoughts may be, "how will I make ends meet". Money matters are a source of stress and frustration for many people. The Federal Trade Commission (FTC) publishes free brochures spelling out your rights when it comes to fair debt collection and credit reporting practices.
  Download the Complete Document
• Secured Credit Card Marketing Scams
  
  Ads like this may appeal to you if you have a poor credit history or no credit at all. Beware: while secured credit cards can be an effective way to build or re-establish your credit history, some marketers of secured cards make deceptive advertising claims to entice you to respond to their ads.
  Download the Complete Document
• Pretexting: Your Personal Information Revealed
  
  When you think of your own personal assets, chances are your home, car, and savings and investments come to mind. But what about your Social Security number (SSN), telephone records and your bank and credit card account numbers? To people known as “pre-texters,” that information is a personal asset, too.
  Download the Complete Document
• Knee Deep in Debt
  
  Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car?
  Download the Complete Document
• Mortgage Payments Sending You Reeling?
  
  The possibility of losing your home because you can’t make the mortgage payments can be terrifying. Perhaps you’re having trouble making ends meet because you or a family member lost a job, or you’re having other financial problems. Or maybe you’re one of the many consumers who took out a mortgage that had a fixed rate for the first two or three years and then had an adjustable rate – and you want to know what your payments will be and whether you’ll be able to make them.
  Download the Complete Document

Find out more about Platinum Credit Score’s great programs and promotions by contacting us Nicole @ 916-826-3442 or John @ 916-842-7773

Credit Info

Client Information and Recommendations: As your credit specialist, our most important job is to review your credit history reports with you and to begin process of disputing negative inaccurate items on your reports. Our next important job is to give you recommendations to follow, which will help you to speed up the process, achieve a higher score and keep it. While we do our part, please read the following information and follow our steps and your score will start to improve quickly.

Contents (click to view)

• How does credit repair work?
• Credit Report Basics
• Do I have a right to know what’s in my report?
• What is a Credit Score?
• Credit Score Ranges and Their Meaning
• How do Credit Bureaus determine my credit score?
• What type of information do credit bureaus collect and sell?
• How does a credit bureau determine my score?
• What is the secret to a high credit score?
• What happens if you are denied credit or don’t get the terms you want?
• The Fair Credit Reporting Act
• How can I speed up the process?
• 7 steps to increase your credit score fast

How does credit repair work?

Credit repair is 100% legal. It works because of a law called “The Fair Credit Reporting Act.” The FCRA gives you the right to dispute any item on your credit report. If that item cannot be verified within a reasonable time (usually 30 days) it must be removed. Even accurate negative items can often be removed or negotiated away. This law is the basis of all credit repair and the foundation of our business.

Credit Report Basics

Your credit payment history and profile is the makeup of a credit report. These files or reports are maintained and sold by “consumer reporting agencies.” One type of consumer reporting agency is commonly known as a credit bureau. The largest three credit bureaus are Transunion, Equifax, and Experian. You have a credit record with these agencies if you have ever applied for a credit or charge account, a personal loan, or a job.Your credit record contains information about your income, debts, and credit payment history. It also indicates whether you have defaulted on any debts, have any outstanding judgments or child support, and whether or not you have any bankruptcies.

Do I have a right to know what’s in my report?

Of course you do. By law, the agencies must give you a free report annually. However those free reports do not contain scores. For credit repair scores we recommend an inexpensive credit monitoring service.

What is a Credit Score?

A credit score is a number generated by a mathematical formula that is meant to predict credit worthiness. Credit scores range from 300-850. The higher your score is, the more likely you are to get a loan. The lower your score is, the less likely you are to get a loan. If you have a low credit score and you do manage to get approved for credit then your interest rate will be much higher than someone who had a good credit score and borrowed money. So, basically, having a high credit score can save many thousands of dollars over the life of your mortgage, auto loan, or credit card.

Credit Score ranges and their meaning

800 and Higher (Excellent) With a credit score in this range no lender will ever disapprove your loan application. Additionally, the APR (Annual Percentage Rate) on your credit cards will be the lowest possible. You’ll be treated as royalty. Achieving this excellent credit rating not only requires financial knowledge and discipline and, but also a good credit history. Generally speaking, to achieve this excellent rating you must also use a substantial amount of credit on an ongoing monthly basis and always repay it ahead of time.
700 – 799 (Very Good) 27% of the United States population belongs to this credit score range. With this credit score range you will enjoy good rates and approved for nearly any type of credit loan or personal loan, whether unsecured or secured.

680 – 699 (Good) This range is the average credit score. In this range approvals are practically guaranteed but the interest rates might be marginally higher. If you’re thinking about a long term loan such as a mortgage, try working to increase your credit score higher than 720 and you will be rewarded for your efforts – your long term savings will be noticeable.

620 -679 (OK or Fair) Depending on what kind of loan or credit you are applying for and your credit history, you might find that the rates you are quoted aren’t best. That doesn’t mean that you won’t be approved but, certain restrictions will apply to the loan’s terms.

580 – 619 (Poor) With a poor credit rating you can still get an unsecured personal loan and even a mortgage, but, the terms and interest rates won’t be very appealing. You’ll be required to pay more over a longer period of time because of the high interest rates.

500 – 579 (Bad) With a score in this range you can get a loan but nothing even close to what you expect it to be. Some people with bad credit apply for loans to consolidate debt in search for a fresh start. However, if you decide to do that then proceed cautiously. With a 500 credit score you need to make sure that you don’t default on payments or you’ll be making your situation worse and might head towards bankruptcy, which is not what you want.

499 and Lower (Very Bad) If this is your score range you need serious and professional assistance with how you handle your credit. You’re making too many credit blunders and they will only get worse if you don’t take positive action. If you are thinking of a loan then keep in mind that if you do find a sub-prime lender (which won’t be easy), the rates will be very high and the terms will be very strict. We recommend that you fix your credit and only then move on to applying for a loan.

How do Credit Bureaus determine my credit score?

35% - Payment History
30% - Debt Ratio
15% - Length of Credit History
10% - Types of Credit
10% - Number of Credit Inquiries
The percentages in this chart show how important each of the categories is in determining your Credit score. We will help you to remove negative items from your payment history. We will also show you how to maximize your debt ratio score, even if paying off credit cards is not an option.

What type of information do credit bureaus collect and sell?

Credit bureaus collect and sell four basic types of information:

1. Identification and employment information
   Your name, birth date, Social Security number, employer, and spouse’s name are routinely recorded in your credit report. They may also provide information about your employment history, home ownership, income, and previous address, if a creditor requests this type of information.
2. Public record information
   Events that are a matter of public record, such as bankruptcies, foreclosures, or tax liens, may appear in your report.
3. Inquiries
   CRAs must maintain a record of all creditors who have asked for your credit history within the past year. It is generally beneficial to keep the number of inquires as low as possible.
4. Payment history
   Your accounts with different creditors are listed, along with the balances, high balances, and outstanding balances. Related events, such as referral of an overdue account to a collection agency, charge off accounts or other delinquencies may also be noted.

How does a credit bureau determine my score?

Credit scoring models are complex and often vary among creditors and for different types of credit. If one factor changes, your score may change — but improvement generally depends on how that factor relates to other factors considered by the model.
Scoring models generally evaluate the following types of information in your credit report:

• Do you pay your bills on time? Payment history is a major factor in credit scoring. If you have paid bills late, have collections, or declared bankruptcy, these events will not reflect well in your credit score.
• Do you have a long credit history? Generally speaking, the longer your history of holding accounts is, the more trusted you will be as a borrower.
• Have you applied for credit recently? If you have many recent inquires this can be construed as being negative by the credit reporting agencies. Only apply for credit when you really want it.
• What is your outstanding debt? It is important that you are not using all of your available credit. If all of your credit cards are maxed out, your scores will reflect that you are not managing your debt wisely.

What is the secret to a high credit score?

1. Always pay your bills on time!
2. Don’t close old accounts!
3. Don’t apply for any new credit!
4. Don’t ever use more than 30% of your available credit on each credit card!

What happens if you are denied credit or don’t get the terms you want?

If you are denied credit, the Equal Credit Opportunity Act requires that the creditor give you a notice that tells you the specific reasons your application was rejected or the fact that you have the right to learn the reasons if you ask within 60 days. Indefinite and vague reasons for denial are illegal, so ask the creditor to be specific. Acceptable reasons include: “Your income was low” or “You haven’t been employed long enough.” Unacceptable reasons include: “You didn’t meet our minimum standards” or “You didn’t receive enough points on our credit scoring system.”
If a creditor says you were denied credit because you are too near your credit limits on your charge cards or you have too many credit card accounts, you may want to reapply after paying down your balances or closing some accounts. Credit scoring systems consider updated information and change over time.
If you’ve been denied credit, or didn’t get the rate or credit terms you want, ask the creditor if a credit scoring system was used. If so, ask what characteristics or factors were used in that system, and the best ways to improve your application. If you get credit, ask the creditor whether you are getting the best rate and terms available and, if not, why. If you are not offered the best rate available because of inaccuracies in your credit report, be sure to dispute the inaccurate information in your credit report.

How can I speed up the process?

Following these 7 steps will increase your score quickly.

Credit Report Basics

1. Order fresh new copies of your credit reports from all 3 bureaus: Equifax, Experian and TransUnion. *We will assist you with this step.
   Credit reports are constantly changing. Therefore it is important to up-to-date copies. A good rule of thumb to know is: If someone else runs your score or reports, this will hurt your score. However, if you order your own credit reports(which we will help you with) your score will not be affected. You also may want to sign up for credit monitoring to see your reports and score and track changes as they happen.

2. Correct all inaccuracies on your Credit Reports. *We will assist you with this step.
   Go through your credit reports very carefully. Especially look for; Late payments, charge-offs, collections or other negative items that aren't yours, Accounts listed as "settled," "paid derogatory," "paid charge-off" or anything other than "current" or "paid as agreed" if you paid on time and in full, Accounts that are still listed as unpaid that were included in a bankruptcy, Negative items older than seven years (10 in the case of bankruptcy) that should have automatically fallen off your report (you must be careful with this last one, because sometimes scores actually go down when bad items fall off your report. It's a quirk in the FICO credit-scoring software, and the potential effect of eliminating old negative items is difficult to predict in advance). Also make sure you don't have duplicate collection notices listed. For example; if you have an account that has gone to collections, the original creditor may list the debt, as well as the collection agency. Any duplicates must be removed! Make sure that your proper credit lines are posted on your Credit Reports. Often, in an effort to make you less desirable to their competitors, some creditors will not post your proper credit line. Showing less available credit can negatively impact your credit score. If you see this happening on your credit report, you have a right to complain and bring this to their attention. If you have bankruptcies that should be showing a zero balance…make sure they show a zero balance! Very often the creditor will not report a "bankruptcy charge-off" as a zero balance until it's been disputed.
3. If you have any negative marks on your credit report, negotiate with the creditor or lender to remove it. *We will assist you with this step.
   If you are a long time customer and it's something simple like a one-time late payment, a creditor will often wipe it away to keep you as a loyal customer. Sometimes they will do this if you call and ask. However, if you have a serious negative mark (such as a long overdue bill that has gone to collections), always negotiate a payment in exchange for removal of the negative item. Always make sure you have this agreement with them in writing. Do not pay off a bill that has gone to collections unless the creditor agrees in writing that they will remove the derogatory item from your credit report. This is important; when speaking with the creditor or collection agency about a debt that has gone to collections, do not admit that the debt is yours. Admission of debt can restart the statute of limitations, and may enable the creditor to sue you. You are also less likely to be able to negotiate a letter of deletion if you admit that this debt is yours. Simply say "I'm calling about account number ________" instead of "I'm calling about my past due debt." Again, as your credit specialist, we will help you with this step.
4. Pay all credit cards and any revolving credit down to below 30% of the available credit line.
   This step alone can make a huge impact on your score. The credit scoring system wants to make sure you aren't overextended, but at the same time, they want to see that you do indeed use your credit. 30% of the available credit line seems to be the magic "balance vs. credit line" ratio to have. For example; if you have a Credit Card with a $10,000 credit line, make sure that never more than $3000 (even if you pay your account off in full each month). If your balances are higher than 30% of the available credit line, pay them down. Here is another thing you can try; ask your long time reditors if they will raise your Credit Line without checking your FICO score or your Credit Report. Tell them that you're shopping for a house and you can't afford to have any hits on your credit report. Many will not but some will.
5. Do not close your old credit card accounts.
   Old established accounts show your history, and tell about your stability and paying habits. If you have old credit card accounts that you want to stop using, just cut up the cards or keep them in a drawer, but keep the accounts open.
6. Avoid applying for new credit. Do not apply for any new credit! Each time you apply for new credit, your credit report gets checked. New credit cards will not help your credit score and a credit account less than one year old may hurt your credit score. Use your cards and credit as little as possible until the next credit scoring.
7. Have at least three revolving credit lines and one active (or paid) installment loan listed on your Credit Report.
   The scoring system wants to see that you maintain a variety of credit accounts. It also wants to see that you have 3 revolving credit lines. If you do not have three active credit cards, you might want to open some (but keep in mind that if you do, you will need to wait some time before rescoring). If you have poor credit and are not approved for a typical credit card, you might want to set up a "secured credit card" account. This means that you will have to make a deposit that is equal or more than your limit, which guarantees the bank that you will repay the loan. It's an excellent way to establish credit. Examples of an installment loan would be a car loan, or it could be for furniture or a major appliance. In addition to the above, having a mortgage listed will bring your score even higher.

Throughout this process, always remember:

It takes up to 30 Days for any of these items to get reported and often longer to reflect on your Credit History Reports. Very often we must write a series of letters challenging the credit bureaus. Each time we must allow them 30 days to respond. It can feel like a slow process, but hang in there, because it does work and the end result will save you a tremendous amount of money.

Find out more about Platinum Credit Score’s great programs and promotions by contacting us Nicole @ 916-826-3442 or John @ 916-842-7773

IF YOU KNOW HOW TO ASK

Credit Bureaus Will Remove Everything You Want If You Know How To Ask Them

Ok, That sounds like a big statement… BUT when you know what you’re doing its honestly not as hard as you think.

Here’s the Deal!

It doesn't  matter if all of the negative credit items on your credit report are accurate or not… because the law that we are going to use against the credit bureaus clearly states that they MUST remove all of the items.

This is about your credibility. We will take step-by-step what is necessary to regain or rebuild your credibility.

Seriously, how much is it worth to you! Get all the negative credit items removed from your credit report which will automatically improve your credit score that will SAVE you a hundred or more dollars each and every month… for the REST OF YOUR LIFE.

Here’s the link to get started:  Click Here!
Be on your way to a 740+ Credit Score. 

Find out more about Platinum Credit Score’s great programs and promotions by contacting us Nicole @ 916-826-3442 or John @ 916-842-7773