Credit Basics

Credit Solution Group on FOX 6 News

Credit Solution Group was invited by Fox 6 to explain the mysteries of credit.  Shane Kelbel revealed the most common mistake made by consumers with their credit. Tiffany West explains how she was going about fixing her own credit all wrong. Tiffany and her husband were trying to purchase their first home but with only a 504 credit score there was no help for them or so she thought.

Tiffany was referred to Credit Solution Group and in just 38 DAYS her credit score was increased 154 points. This made the dream of home ownership a reality in no time at all. Then things only got better Tiffany had all the stress of bad credit lifted and the doors began to open. This young couple was then able to qualify for a home improvement loan to do some upgrades making their house a home.

Continue Reading »

How to Read a Credit Report

How to decode your credit report

As you may already know, there are three major credit reporting agencies (CRA’s) otherwise known as the credit bureaus. The big three are TransUnion, Experian, and Equifax. The consumer CRA’s business is collecting, storing and reporting data they have gathered about a consumers personal credit profile.

This information is used to create your credit report which is then used by lenders to determine if they will grant you the credit applied for. The information in your credit report is gathered from three sources; 1st is you 2nd are your creditors and the 3rd is from public records.
You provide the following information on yourself when you apply for credit:

Continue Reading »

Tagged , , ,

Your Good Credit Just Got Worse!

Every thing we do today is driven by credit, from loans to employment. Well get this, as if things are not tough enough your good credit just isn’t going to cut it anymore. It is more difficult to obtain credit than ever before plus the fee’s are going through the roof.

Check Out this information on your credit just not what it was.

Continue Reading »

Tagged ,

FICO Damage Points Exposed to be Fools Gold

Recently there was a big buzz about FICO releasing their damage points. In the article that was released by a leading publisher it supposedly revealed the FICO damage points. Damage points in this case were referring to the amount of damage that a negative action could have on your credit score. Knowing this could totally change the game of credit and credit repair for sure.

Well they did release an example of what could happen to your credit score if you fit this exact near perfect case. The key is could happen, but the author wrote the article as if this will be the case. That could not be further from the truth. FICO has so many different algorithms plus 16 score cards on their new scoring model which leave an . To fit this criteria in itself would be like hitting on some lotto numbers. An experienced professional who understands score cards and the use of credit score reason codes should be able to give an idea of the impact of items on a case by case basis. These “Damage Points” being revealed is nothing but some fools gold that was taken out of context.

Continue Reading »

Credit Card Reform Is Coming

The Credit Card Holder’s Bill of Rights is going into effect, the CARD Act provisions will become enforceable by law in February 2010.

These last few months in the credit card world’s version of the Wild Wild West we should continue to see credit card issuers behaving very badly!. The mega-credit card issuers time-line to finish remolding their cardholder client base to look more like what they are seeking. This means consumers will continue to suffer the at the hands of their credit card companies, that is of course unless they employ one or more of the following strategies.

Continue Reading »

What Kind Of Results Will Credit Repair Produce

The results achieved with credit repair are as different as night and day. When considering a credit repair company you want to do your research. You want to know that the company is both fast and effective.

What good is credit repair if you have to wait years for less than expected results? How do you even know what kind of results to predict with the service? The only way to really know is to see what the actual clients have received and the time that it was accomplished.

Continue Reading »

Tagged
  • My Posts

    Credit Solution Group on FOX 6 News

    Credit Solution Group is the Credit Expert Chose by Fox 6. When you want credit advice Credit Solution Group is the only choice.

    How to Read a Credit Report

    You will find be able to read a credit report with understanding into the mystery coding of the credit bureaus

    Your Good Credit Just Got Worse!

    Every thing we do today is driven by credit, from loans to employment. Well get this, as if things are not tough enough your good credit just isn’t going to cut it anymore. It is more difficult to obtain credit than ever before plus the fee’s are going through the roof. Check Out this information…

    FICO Damage Points Exposed to be Fools Gold

    Recently there was a big buzz about FICO releasing their damage points. In the article that was released by a leading publisher it supposedly revealed the FICO damage points. Damage points in this case were referring to the amount of damage that a negative action could have on your credit score. Knowing this could totally…

    Credit Card Reform Is Coming

    The Credit Card Holder’s Bill of Rights is going into effect, the CARD Act provisions will become enforceable by law in February 2010. These last few months in the credit card world’s version of the Wild Wild West we should continue to see credit card issuers behaving very badly!. The mega-credit card issuers time-line to…

    What Kind Of Results Will Credit Repair Produce

    The results achieved with credit repair are as different as night and day. When considering a credit repair company you want to do your research. You want to know that the company is both fast and effective. What good is credit repair if you have to wait years for less than expected results? How do…