Credit Report Review

Understanding your credit report can be confusing. But our certified financial counselors are here to help. They will sit down with you and review your personal credit reports, answering any and all questions you may have about your score.

Here’s just a few key elements that affect your credit score:

Missing payments

Payment history is one of the most important aspects of your score, and even one late or missed payment can have a negative impact.

Using too much available credit 

It can be a red flag that you’re too dependent on credit

Applying for a lot of credit in a short time

Each time a lender requests your credit reports for a lending decision, an inquiry is recorded in your credit file. These inquiries stay in your file for two years and can cause your score to go down slightly for a period of time.

Defaulting on accounts

The types of negative account information that can show up on your credit report include collections, foreclosure, bankruptcy, repossession, charge-offs, settled accounts. Each of these can severely hurt your credit for years, even up to a decade.

Regardless of if you’ve experienced any of the above items, it’s important to review your report regularly and know where you stand. Doing so will help you be in the best position possible if you do need to borrow money.