Credit Transformation

Bad credit is expensive! The cost to improve your credit is noting compared to how much you can save in interest. As well you can get approvals in place of denials.

Let's talk about inquiries.....

Do you know how much they affect your credit score when applying for a new loan or credit card? Each one can bring down your score anywhere between 1-5 points.

Interesting facts.....

#1 The more credit history you have (opened and closed accounts) the less points the inquiry is.

#2 Inquiries only stay on your file for 2 years

#3 If you have 6 or more inquiries, the credit algorithms usually calculate that you have too many and are considered in the high risk category.

Have you checked your credit reports lately? Did you know that you can get free reports from all three bureaus at no cost to you? You don't even put in a card number!!!

To obtain that Equifax and TransUnion reports go to www.creditkarma.com
To obtain Experian go to www.experian.com

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