WHAT IS MY CREDIT SCORE BASED ON?
35%—Record of both timely and untimely payments.
30%—The amounts and types of outstanding debt.
15%—The time since an account has been opened.
10%—Number of recently opened accounts and recent inquiries.
10%—Number and types of accounts such as credit cards, retail, etc.
HOW DOES MY CREDIT SCORE AFFECT MY COST OF LIVING?
How does my credit score affect my cost of living?
When compared with the factors that go along with having a low FICO score, such as high interest rates, low credit limits and overall difficulty getting approved for anything, it isn't a question of whether or not you can afford it. Read through this page and then ask yourself how you can afford to go without it.
DO YOU GUARANTEE REMOVALS?
The law prohibits any company from guaranteeing the removal of items on your report, but we offer a free evaluation of your credit reports before you commit to our service.
WHAT'S YOUR EXPERIENCE IN CREDIT REPAIR?
Silicon Valley Credit Repair has an expert staff that has been challenging credit reporting agencies on our clients' behalf for over 16 years. Using a variety of lawyers, accountants and other repair specialists, Silicon Valley Credit Repair has practically redefined the words "credit repair." We employ creative, personalized solutions while following all of the laws and regulations in regard to the credit reporting industry.
HOW LONG DOES THE PROCESS NORMALLY TAKE?
On average, results can be seen on your credit report within 45 days of the start of our service. Although we put a lot of effort into sending out our disputes as quickly as possible, most of this time is spent waiting for the CRA's to respond. As an example, someone with 10 trade lines to dispute on each credit report can take anywhere between three and four months to be considered a "prime" score.
WHAT PRECAUTIONS SHOULD I TAKE?
It's always a good idea to know who you're working with. If you select a company that isn't very familiar with consumer laws and regulations, you could end up in a worse situation than when you started. And with the sensitivity of the information being processed, you should always be sure that those you select to handle it can be trusted. If you are unsure of an organizations methods, it's always a good idea to verify the information with the source. We have provided some official publications below that give an overview of how FICO scores work.
DOES EVERYONE QUALIFY FOR CREDIT REPAIR?
Everyone qualifies, but not everyone needs credit repair. Some people need to build credit and we can suggest credit cards to obtain to help build and repair credit!
CAN YOU RECOMMEND A CREDIT CARD(S) THAT I CAN OBTAIN WITH BAD CREDIT?
Yes! Jewlers Club
HOW LONG IS YOUR PROGRAM?
DO YOU HAVE REFERRAL INCENTIVES?
WHAT CREDIT MONITORING WEBSITE DO YOU
RECOMEND? IDENTITY IQ
IS IT COMMON TO HAVE INACCURATE ITEMS ON MY CREDIT SCORE?
Yes! 1 in 5 Americans have an error on their credit.
WHAT IS CONSIDERED A “GOOD CREDIT SCORE?”
680 and above
WHY CREDIT REPAIR?
In order to get approved for loans in order to purchase a Car or House with low interest rates.
WHAT IS PERFECT CREDIT?
850 and above
WHAT DO YOU CONSIDER “BAD CREDIT”?
Score of 500 and below
WHEN WILL I START TO SEE RESULTS?
Every scenario is different, but you can see results in as little as 30 days!
CAN YOU HELP WITH IDENTITY THEFT?
WHAT ARE THE 3 CREDIT BUREAUS?
Transunion, Equifax, Experian
DO YOU HAVE ANY CREDIT SEMINARS?
Credit Seminars and live video streaming will be available soon!
WHAT IS THE DIFFERENCE BETWEEN A HARD CREDIT INQUIRY AND A SOFT CREDIT INQUIRY?
The difference is a soft inquiry does not negatively affect your credit score; a hard inquiry will shave off points.
HOW LONG DOES BANKRUPTCY STAY ON MY CREDIT REPORT?
Up to 7 years
CAN I BE CHARGED WITH CRIMINAL CHARGES FOR CREDIT PROBLEMS?
WILL CHECKING MY CREDIT REPORT HURT MY CREDIT SCORE?
Checking your own credit report won’t hurt your score.
WHAT AFFECTS MY CREDIT SCORE THE MOST?
Your payment history is the most important aspect of your credit score because it shows how you’ve managed your finances, including any late payments.
WHAT EXACTLY IS A FICO SCORE?
Your FICO Score is a number between approximately 300 and 850. It is based on the statistics of a person's credit report to represent their "credit-worthiness" (meaning the likelihood that the consumer will pay off his or her debts). The information is cross-referenced from the three major credit reporting agencies and analyzed by the FICO System to give it a simple, numerical score.
Lenders, such as banks and credit card companies, look at your FICO Score to evaluate the potential risk posed by lending you money. Using credit scores, lenders determine who qualifies for a loan, at what interest rate, and at how high of a credit limit.
Have more questions? Contact us today!