Credit Scores

What’s a Good Credit Score? And Why?

Paramount Equity® - Good Credit

credit score - Paramount Equity®Savvy consumers are aware of the importance of their credit score. Some learn how important their credit score is through their own trials in life. If you are like some, you may have applied for a loan in the past and learned that your credit scores are too low to qualify. Others have been fortunate enough to read about the importance of credit scores on their own, or they have learned this lesson from family or friends. While many people are aware that it is important to have a good credit score, few understand what a good credit score actually is.

What the Numbers Mean

If you pull your own credit report or a lender gives you a peak at a credit report they have pulled, you may see that you have a score that ranges from 300 to 850. (more…)

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How to Repair Credit

Paramount Equity® Credit Repair tips

Credit Repair - Paramount Equity®At one point or another, you may have a period in your life where you find yourself with a low or damaged credit score. Although having a bad credit score can be extremely stressful, there are ways that you can repair your credit and boost your credit score.

Do Your Homework

The first step to repairing your credit is to do your homework before beginning the process. This means ordering your credit reports. By doing so, you will know the exact state of your credit score in addition to how credit bureaus are presenting your credit history and score. When ordering your credit score, it’s best to order the report from more than one bureau as in some cases there may be discrepancies. Although you may have to pay a small fee when ordering your credit report, it can be difficult to repair your credit without your credit report. (more…)

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How to Repair your Credit Score

How to Repair your Credit Score

Like it or not, a bad credit score can have a tremendous impact on your life. Your ability to make big-ticket purchases and to get essential services will be greatly limited by a poor credit history. If you are presently wondering how to repair your credit score, you are not alone. A widespread decline in credit scores has been one of the unfortunate side effects of the recent recession. Fortunately, there are steps you can take to improve your credit and make your life easier. The first part of repairing your credit score is to address the issues that damaged your credit, including:

• Debt

• Errors on your credit report

• Dormant credit (more…)

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Tips for Repairing your Credit

Tips to repair your Credit - Paramount Equity®

With so much discussion about the importance of credit scores, it can be very easy to get scared. You hear all the time about how bad credit can ruin your chances at getting a mortgage, a home, a car, or even a job. While you may hear about the effects of bad credit scores, very little gets publicized about how to fix those credit scores to get your financial life back together. Here are some helpful tips for repairing your credit score.

1. Check your credit score

Before you freak out about fixing your credit score, find out exactly what your current credit score is. Everyone is entitled to a free yearly credit score check on the three major credit reports- Equifax, Experian, and TransUnion- that are owed to you by the FDIC. Each of these reports make up part of your credit score and fill in the blanks as to what you are (more…)

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