Personal Credit & Why it is Essential

What is personal credit? Why is it essential to have good credit? 

Personal credit is a record of your reliability as a consumer when analyzing how well you pay your bills. This means that when you sign up for products (things like cell phones that require monthly plans), loans like credit cards or car deeds, and other services, the companies keep a record of your payments. The data on these payments are reported to the three credit reporting companies: Equifax, Experian, and TransUnion. These companies create an average credit score for a consumer based on whether they can pay their bills regularly and on time.

Other companies then use this credit score to determine whether to loan you money and how much for more extensive investments. Having good credit can open the door to more opportunities, like qualifying for a mortgage or being able to borrow money on a credit card in an emergency. A low credit score can be a hardship since companies loan people less money and money at higher interest rates. Most people spend their adult lives building or maintaining their credit score and having good personal credit.

How do I build my credit? How can I improve my credit score?

Here at The Credit Care Company, it is our job and honor to help people rebuild and rehabilitate their credit worldwide. We do this in three phases and guarantee to work with you until you see results.

During Phase One, we work with you and develop a file on your situation and needs. When people have low credit scores, it’s usually because they don’t have access to educational material about finances. If you’re in trouble with your credit due to being uninformed, you will need the information to get out of that situation. We contact the three bureaus and investigate disputes for you. We contact them about incorrect or outdated items that need to be removed. We offer tips on negotiating debts and making deals with your creditors—many of our customers who start in the 550 range qualify for a home in 120 days.

Next is Phase Two in our program, which involves following up on what we discovered in phase one. Many people with low credit are working people who are too busy to follow up with credit bureaus and paperwork. They also don’t always have time to negotiate their debts and can easily be intimidated by debt collectors. We continue monitoring your score with all three bureaus and fighting the disputes. Most people see an increase in their credit score during this time because credit reports are often inaccurate in situations where the average person might have had no access to their accounts, no knowledge to fight back, and no one in their corner.

Phase Three involves settling those disputes and resolving issues with creditors. It can mean setting up an affordable payment plan. At this stage, we tend to help people continue on their journey, building credit and making wise decisions as they go.

Want to take charge of your life and get on top of your credit score? Do contact us today, and we will fight together to repair your credit.