WHAT IS A CREDIT SCORE

A credit score is a number that lenders use to determine the risk of lending money to a borrower. Credit card companies, auto dealerships and mortgage bankers are three common examples of types of lenders that will check your credit score before deciding how much they are willing to lend you and at what interest rate. Insurance companies, landlords and employers may also look at your credit score to see how financially responsible you are before issuing an insurance policy, renting out an apartment or giving you a job.

AVOID CREDIT CARD (CC) FRAUD

Use cc's on secured websites; sign cc's as soon as you receive them. Prefer merchants that ask you to sign receipt rather than provide your pin #. Carry only the cards you plan on using and keep pin # and card separately.

What Banco May Be Able to Remove from Your Credit Score

Collection Accounts - Judgments - Medical Bills - Foreclosures - Repossessions - Tax Liens - Inquires - and excessive names and addresses. Call 248-286-5100 today

HOW SPOUSE'S CREDUT CAN IMPACT YOU

If you have great credit, but your spouse does not, don't worry. You and your spouse have separate credit files and they don't have to affect each other. In fact, depending on where you live, you're probably not even responsible for bills your husband or wife runs up under their name while you are married. But if you have joint accounts or co-signed a loan, you are both equally responsible.

HOW TO INCREASE YOUR CREDIT SCORE

HOW TO INCREASE YOUR CREDIT SCORE
Do not make late payments. Pay revolving credit balances down. Open two secured credit card accounts and only use 1/3 of the credit available to you. Credit repair effort cannot succeed without open accounts.

Instant Credit Repair Relief

Credit score level could be the driving force at the rear of all key purchases and individual investments, but debt, money shortages, and financial shortfalls can lead to damaging credit score studies, even when by accident. Repairing credit is usually a tricky and size approach, as several banks and monetary establishments in the current financial climate may only be prepared to lend money or approve transactions with pristine credit rating record. You'll find, nevertheless, many steps which can be taken for instant credit score improvement to improve your monetary health.

WHAT YOU CAN DO WITH A HIGHER CREDIT SCORE

1. Refinance auto loans and cut interest rates in half
2. Stop charge card bleeding by lowering payments
3. Decrease insurance rates
4. Reduce home mortgage payments
5. Get approved for more money higher charge card limits and nicer cars.