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Asset Acceleration Planning, LLC |
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Credit Score Repair Get Your Credit Report for FREE: Under the Fair and Accurate Credit Transactions Act, once a year, you are entitled to a free credit report from the three major credit bureaus. And this is without joining some association and paying a fee. What to do: First, order a report from each of the bureaus and then check the three reports against each other. You can request your report from the big three bureaus at the following Websites or phone numbers. Equifax = Equifax. COM or (800) 685-111 Experian = Experian.com or (888) 397-3742 TransUnion = TransUnion.com or (800) 888-4213 These reports will have lists of all your credit card accounts, with your payment history. However, the reports will not include your score. For your score*, you must pay $6.00 to the respective credit agencies.
How to Improve your Score: Get rid of the costly mistakes in your report. According to the Public Interest Research Group 25 % of the reports contain errors. In order to improve your FICO score do the following in priority order: 1. Pay your bills on time and pay more than the minimum. Your payment history has the biggest effect on your score. 2. Don’t have your credit maxed out. Use less than 50% of the credit you have available to you. 3. Having a credit card for a long time is better than a new card. For those of you who keep rolling over cards which are maxed out – bad idea for improving your score. The number of times lenders request your credit report can affect your score. The more credit you request, the more credit reports are generated and the lower your score. The type of credit is a factor. Secured credit is better than unsecured credit. What do you Gain? Big savings in loans is the answer. According to myFICO.com a $216,000 30-year, fixed-rate mortgage:
The Conclusion: It is worth the time and effort to take action to get a better FICO score. |
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should be directed to [aapnorth@optonline.net]. |
