We have been working with people across the United States and Canada to correct their credit reports and increase their credit scores since 2002. We focus on helping our clients meet their immediate goals with an emphasis on credit education for long-term, sustainable credit rating growth. We are proud to be your source of accurate, effective and understandable information about consumer credit scores.
Are you ready to to take control of your credit instead of it controlling you? Then Click here for more information about our services.
Welcome to Complete Credit Services
Jul 16
The FICO credit scores are on sale through the end of July. That means you can save 20% on the FICO Credit Complete Package that includes all three credit reports from TransUnion, Experian and Equifax AND all three of your actual FICO scores.
Go to www.myfico.com, click on the Products tab, and look for the FICO Credit Complete. The discount code to use at checkout is “Summer20″. You will be able to log in and view your reports for the thirty days after you purchase them.
FICO scores are the scores actually used by most lenders in the U.S. Most of the scores advertised on television and the radio are “consumer credit scores”, developed by the credit bureaus to compete with the FICO score. They rarely are the same as your FICO score so if you want to see what your lender is going to see when they check your credit, these FICO scores are the closest you can get.
NOTE: Checking your own credit report and purchasing your own scores does NOT count against your score. It will show up on your report as an Inquiry, but is not included in the scoring formula.
Our in-depth credit analysis provides you with the information you need to optimize your credit scores, continue to grow your good credit and protect yourself against identity theft. And you can get it right now for only $100. Just fax or email a copy to us today.
Jul 14
Many people use their credit card when dining out at restaurants; it’s convenient and quick. It can also lead to identity theft.
These are common methods of ID theft at restaurants and what you can do to prevent them.
1) SKIMMING - A small, portable machine, often located near the cash register but not attached to anything, allows someone to swipe a credit card and capture all of the information that is electronically coded on the card such as name, address, phone number, credit limit and PIN. The credit card is then processed through the legitimate restaurant machine for your current purchase and the thieves have access to the account information to use at a later date and time.
TO DO: Keep your card in sight whenever possible. If necessary, carry it up to the checkout register yourself and watch where it goes. Ask if the restaurant has at-your-table processing machines available.
2) CELL PHONE CAMERA - An employee uses their cell phone camera to take a picture of the front and back of the credit card, giving them your name, the complete account number and the expiration date. Or there could be an “innocent bystander” nearby or just outside the restaurant window who appears to be talking on their cell phone. With today’s advances in technology, they could actually be snapping pictures of your credit card from several feet away.
TO DO: Watch your credit card at all times; be aware of employees “talking” on their cell phone while processing your order; watch for people in your immediate area who may have their cell phone out; and cover your credit card with your hand as much as possible when using it at any store or restaurant.
3) CREDIT CARD SWITCH - When you use your credit card to pay and the server then brings back the receipt for you to sign, most people just return the card to their wallet, sign the paper and take their receipt. A similar looking credit card is substituted for yours and the ID thief has a fresh card to use for unauthorized charges. Most people don’t bother to double check to be sure the card that is returned to them is actually theirs, so the switch can go undetected until you try to use the other card, which is often stolen, maxed out and subsequently rejected; or until you get your monthly statement and discover all of the charges on it.
TO DO: Always check your credit card before returning it to your wallet to be sure it has your name on it.
If you are ready for an in-depth credit analysis with strategies to protect your good credit or if you have been the victim of identity theft and still have errors on your credit report, we can help. Contact us today for your credit report review and comprehensive credit building plan.
Jun 23
Many people are currently focused on getting out of debt. This includes paying down credit card balances. In these turbulent economic times, this makes sense. Less debt equals less interest paid out and more money in your pocket.
It also makes sense to build your credit scores. And credit cards play an important part in the scoring formula. In fact, open credit card accounts, including retail stores and gasoline cards, impact a major component of the score: your Utilization Ratio. This is the balance on credit card accounts compared to the credit limit and it accounts for 30% of the FICO score.
What most people don’t know is that closing credit card accounts after paying them off can actually HURT their scores. By closing your paid off credit cards, you reduce the amount of available credit that will be used to figure your Utilization Ratio.
So remember that when you pay off your credit cards, DON’T CLOSE THEM.
For a complete credit analysis that includes using credit cards as tools to build your scores, contact us now.
May 27
We get many questions about adding a Consumer Statement to a credit report:
Should I do it? Does it help? I want to explain that item…. all common reasons for wanting to add a Statement.
The right to add a statement of no more than 100 words is included in the Fair Credit Reporting Act, Section 611(b). It also says the credit bureaus are supposed to “provide the consumer with assistance in writing a clear summary of the dispute.”
The credit bureaus DO promote the addition of a Consumer Statement, especially after they do not correct an item that you tried to dispute. What they don’t tell you is that a dispute statement does not affect your credit score one single bit. In fact, rarely does a lender see it. Lenders are looking at credit scores and summaries of accounts and account balances. They are NOT looking at consumer explanations.
In fact, in some cases, people actually go overboard in explaining their previous financial circumstances and could actually incriminate themselves, if anyone actually read the statements.
So the bottom line is don’t bother with a Consumer Statement on your credit reports. They do not help your scores. Nobody looks at them.
Contact us now to get your Credit Building Plan with strategies that actually help you take control of your credit.
May 13
If you purchased diamonds, diamond jewelry or other products with gem diamonds in them, between January 1, 1994 and March 31, 2006, you could get some money back.
There is a settlement for a class action lawsuit that will distribute over $270 million to consumers. Of course, the distribution won’t happen until late 2008 or even 2009. And until all claims are filed, the amount each claimant will receive is unknown.
But if you bought diamond jewelry during that time period, it may be worth your while to fill out the form. NOTE: The deadline is May 19, 2008. The website has all of the details along with the submission form.
So what does this have to do with your credit? Nothing directly. But indirectly, it might.
As consumers feel the pinch of higher costs and continue to trim their budgets, the chance that some bills may not get paid on time increases. A few extra dollars can mean the difference between paying off that doctor visit co-pay and having a collection account on the credit report. Or paying down your credit card balances under half of the credit limit, which helps your credit scores.
Remember, the number one factor in the FICO credit score is Payment History. Paying all bills on time, every time, is the best way to grow and keep good credit.
And if a few dollars from some diamond purchases can help, we think that’s a good idea.
May 08
REDUCE YOUR RISK
Copy both sides of everything in your wallet:
Library and Community Cards
Checking Account Debit Cards Keep this important paper in a safe, locked place at home. In the event of a lost wallet, you will not have to rely on memory, but will have detailed copies of the contents to work with.
DO NOT Regularly Carry These Items:
ALL of your Credit Cards – just carry one or two frequently used cards. All of these are potential opportunities for identity thieves. Leave them locked in a safe, secure place at home.
STEPS TO TAKE AFTER THE LOSS OF YOUR WALLET
NOTE: Be sure to keep detailed records of everything that you do regarding the lost wallet:
Copies of Everything That You Mail or Fax
Receipts of Expenses Related to the Process (copies, postage, etc.)
1. File a report with the police in the jurisdiction where the loss happened. Keep a copy of the police report.
2. Cancel the credit cards that were in your wallet by calling the issuer(s) immediately. Many companies have 24-hour toll-free numbers to deal with emergencies; the number is on the back of the credit card that you have copied and safely stored or on the monthly statement.
3. Report the loss to the fraud department of the bank where you have your checking and savings accounts. Request that new accounts be opened, cards issued with new numbers and add a password to your account(s).
6. Contact your health insurance company if your insurance ID card is missing.
7. Contact your cell phone company if your phone was in the purse.
8. Change your home and car locks if your keys were there, too and change your security codes as well.
9. Call the fraud departments of the credit bureaus to place an initial (90 day) Fraud Alert on your account. Contact all three directly.
Equifax: 1-800-525-6285; P.O. Box 740241, Atlanta, GA 30374-0241
Request the free credit report provided by the Fraud Alert; this will give you a baseline to which to compare future credit reports in the event of identity theft.
10. If your wallet was stolen and you suspect identity theft, contact the Federal Trade Commission (FTC), the federal clearinghouse for complaints by victims of identity theft. They provide information to help consumers resolve the financial and other problems that can result from identity theft.
Call the FTC at 1-877-ID-THEFT (1-877-438-4338) or go to the FTC online , click on ID Theft listed under the Quick Finder section.
For the next year, continue to monitor your credit reports to assure that no fraudulent activity has occurred. You can do this at no cost through the Fraud Alert provisions and/or with your free, annual credit reports.
11. Check with the Social Security Administration for steps to take regarding a missing or stolen Social Security card.
12. Visit the Identity Theft Resource Center. Their Fact Sheet #104 contains a comprehensive, printable checklist for this type of situation.
Contact us for further information on understanding or correcting your credit reports.
Apr 28
If you have credit cards that charge an annual fee, and perhaps even a monthly fee, you may want to consider investing a few minutes of your time to try and save yourself some money.
With today’s competitive credit card market, many companies are willing to work with their customers that have good payment history to continue to keep them as customers. The following seven steps outline what you need to do to eliminate those excessive fees.
1) Gather recent statements for all of your credit cards. If possible, gather the original paperwork for the account that outlines what fees, if any, it carries.
2) If you do not know how long you have had the accounts, get a copy of your credit report, at no cost, using your free, annual reports. Review the credit report to find the date that each account was opened. List this information on the statement so that you have all pertinent info handy. Also check to see if there are any late payments reported for each account.
NOTE: The account balances on the credit report may not reflect your most recent payments and/or charges. Continue reading »
Apr 23
If you are tired of the constant overflow in your mailbox from credit card and other offers, this is the information you need. A little bit of time spent NOW can save you hours of dealing with junk mail later. And fewer offers sitting in your mailbox mean fewer chances for identity thieves to get a hold of them.
1) Do the Opt Out with the three major credit bureaus. This will exclude you and your credit report information from companies that send unsolicited credit card offers. You only have to do it one time and it covers all three bureaus. This will NOT stop unsolicited offers from companies you already do business with.
2) Opt Out with the Direct Marketing Association (DMA), which is a trade association for businesses in direct, database and interactive global marketing. This is free to the consumer and will remove your information from the mailing lists of many national companies that are registered with the DMA.
3) Do the Opt Out with the companies that you already do business with. Most credit card, retail store and fuel card companies share your personal information with other divisions in their corporation and even with other, affiliated companies. You can find information on how to do this in the tiny, fine print of most credit cards’ Privacy Policy. You can also search for the Privacy Policy at the company website. Some companies allow you to do the Opt Out online, others require you to call a toll-free phone number or mail in your preferences. Be sure to have your account number handy and to Opt Out of both the “affiliated” companies and the “non-affiliated” companies.
NOTE: Be sure you do the Opt Out in the privacy statement, NOT the Opt Out for changes to your account as this could facilitate the closing of your account, which could impact your credit scores.
4) The National Do Not Call Registry is a free, easy way to reduce the telemarketing calls you receive. With the Do-Not-Call Improvement Act of 2007 that went into effect in February, 2008, telephone numbers placed on the registry will stay on it permanently, which means you do not have to renew your preferences every few years.
It is important to note that you will not see a reduction overnight. However, within two months, you should notice a distinct difference in the amount of junk mail with unsolicited offers that you receive. In the meantime, continue to protect yourself against identity theft by shredding ALL offers and blank “convenience” checks that you get. You can spend the extra time you will have with less mail to sort through doing something that is valuable to YOU.
Apr 18
In today’s society credit cards are a way of life. Unfortunately for many people, their credit card debt is consuming and controls their life. However, with accurate information and self-determination, credit cards can become very effective tools to build a positive credit rating as part of a successful financial fitness plan.
1) CHANGE YOUR MIND
-Decide that you want to be debt free and have no credit card debt. This includes major credit cards, retail store accounts and gasoline cards. Be realistic and realize that this will take time and probably will not be easy. Remind yourself of your long-range financial goals to keep motivated and on track.
-Credit cards are not money, they are convenience loans. There is no federal limit to the interest rate that credit card companies can charge and many states do not have usury laws, meaning there is no state cap on the interest rate. Eight of the top ten credit card issuers have their charter in states with no usury laws.
-Credit cards are not free, they cost you money. Many credit cards charge an annual fee; others require a minimum, monthly payment of less than 5% of the account balance. This can lead to a longer period of time before the account is paid off and subsequently, more interest charges over that time.
2) CHANGE YOUR HABITS
-Do not carry your credit cards. There will not be an emergency that requires you to have every single credit card with you in your wallet. This also decreases your chances of being the victim of fraudulent credit card use or identity theft.
-Do not use a credit card for something you do not have the cash for at that moment. A $500 impulse purchase can cost $625 or more when it finally gets paid off several months later.
-Pay all bills on time, every time. Especially credit card accounts. Many companies have included the “Universal Default Policy” in the fine print of their credit card agreement. This allows them to increase a customer’s interest rate if there are late payments on ANY of the customer’s accounts that are reported to the credit bureaus. Not just the credit card with their company, ANY other company that reports a late payment can trigger the much higher Universal Default interest rate.
3) MAKE A PLAN
-Stop using the credit cards you have so that you stop accumulating more debt. If you do not have a budget, make one and stick to it. Give yourself a certain amount of cash each week and hold yourself accountable to only spending that amount. Remember your long-term goals are more important to your financial fitness plan than short-term impulses are.
-Contact your credit card companies and request a lower interest rate. Some online research at sites such as bankrate.com will show what offers the major credit card companies are giving to new customers. As an established, loyal customer, you can use this information to ask for at least that same rate on your existing accounts.
-Pay off your highest interest rate accounts first. Pay more than the monthly minimum, even if it is only $5 more. Do not close credit card accounts when they are paid off. A major factor in FICO credit scores is the utilization ratio, which is account-balance-to-credit-limit. Closing accounts decreases the available credit, which makes for a higher ratio and lower scores.
4) FOLLOW YOUR PLAN
-Continue to use your budget and keep your spending under control. Once you have eliminated credit card debt, establish your “Smart Fund”. Start with a goal of at least $1000 in a savings account that can be used for emergencies or unexpected items such as a new car battery or plumbing repair. Using the Smart Fund instead of a credit card saves money and keeps the credit card debt from returning. Replenish your Smart Fund as soon as possible.
- Shred the “convenience checks” that credit card companies send to you. Do not open any new credit card accounts; consumers with long established, good credit do not need more than 3 – 6 open, revolving accounts. Do the free OPT OUT to reduce the number of solicitations you receive in the mail. This can be done at www.optoutprescreen.com or by calling 888-567-8688.
-Use your paid off credit cards as credit building tools. By using them ONE TIME, every six months, for a small purchase of something you were going to buy anyway, they stay active, are reported to the credit bureaus and included in the credit scores. Pay the bill IN FULL when it arrives the following month. Example: Mark your planner or calendar with a reminder to take the MasterCard out of the locked desk and use it for a tank of gas that week. Then lock it back up when you get home and mark the calendar to do the same thing in another six months.
Becoming credit wise and learning how to use credit cards as credit building tools can lead to a better financial future, more money in your pocket and peace of mind.
Apr 14
The media attention to the upcoming economic stimulus payments that the U.S. government will be sending out in a few short weeks has many people thinking about what to do with the check they are about to receive.
When the $152 billion package was passed by Congress and signed into law in February, it was done so to put money in the hands of the consumer so they could spend it and help keep the economy moving.