Q&A Articles

Did You Know? The Real Impact of Credit

Each of the three credit bureaus – Experian, Transunion and Equifax – maintain separate credit histories and credit scores for each consumer. It’s important to check your credit reports at least once a year to ensure all information is accurate and that no one else is using your credit or identity. You can obtain a free credit report from each bureau once a year at www.annualcreditreport.com. Credit scores are available for an extra fee, which is likely between $5 and $10 per credit bureau.credit-bureau-logos

Tips to Improve Your Credit

Could your credit history use a boost? Here are five tips to help you get back on track:

  1. Pay every bill on time.
  2. Pay more than the minimum amount due.
  3. Pay down balances and charge less.
  4. Don’t open or close any accounts.
  5. Simply wait. Most negative credit history will drop off your report after seven years.

Looking for alternatives to high credit interest rates?

We can help. Our online credit counseling will:

  • Provide a free financial assessment
  • Determine your income, expenses and total debt
  • Create a manageable budget
  • Suggest solutions to help you reach your financial goals, which may include a Debt Management Plan

Clients on a Debt Management Plan typically pay off credit card debt in 5 years or less. Sounds good, right?

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