In 2016, Michelle Beavers decided that it was a time for change! She sought after a credit repair agency. After consultation Michelle realized that the process was going to take far more time than she had imagined. Michelle was then pointed to the direction of Credit Jump. She immediately found the answers she needed to raise her credit score in a timely fashion. With the results of Credit Jump, Michelle was able to get approved for a car loan!

Having poor credit had really slowed Michelle down for years, but by applying to Credit Jump, Michelle was able to acquire the things she longed to do without filing bankruptcy or spending years paying off old debt. Credit Jump is the source that can help with establishing, credit restoration and rebuilding processes.

WHAT YOU SHOULD DO

#1 Check Your Credit Report


Get a better understanding of your credit picture and what lenders can see. You can get a copy of your credit report from


www.annualcreditreport.com
www.creditkarma.com

Dispute information that is incorrect. Dispute any accounts that could have been created fraudulently. Any negative accounts you do recognize and own put 
them in an order from oldest to newly created. Then put them in an order of which balances could be paid off faster. The bigger your debt is and the more recent your missed payments are, the worse your score will be.This should give you an understanding of why your current FICO score is low. 

 


#2 Make Your Payments On Time

Your payment history is one of the very important components of FICO scoring. Slow and missed payments will reduce your FICO scores, and public records and collections can cause significant damage. This negative information will remain on your credit report and impact your credit scores for 7+ years.

Bring all your accounts current by making payment arrangements with all creditors at what you could afford to pay them, continue to pay on time. This will have a great impact on your credit scores.


#3 Credit Utilization Rate

Credit scoring models will take into account how much you debt owed compared to how much credit you have available, called your credit utilization rate or your balance-to-limit ratio. Basically, it’s the sum of all of your revolving debt (such as your credit card balances) divided by the total credit that is available to you (or the total of all your credit limits). High credit utilization rate can negatively impact your credit scores.
keep your credit utilization rate below 30%. For example, if you have a $10,000 credit limit across all of your credit cards, you should try to keep
your total credit card balances below $3,000 to keep your credit utilization rate low. There are two ways to reduce your credit utilization rate:

 

Reduce your debt by paying off your account balances. Increase your total available credit by raising your credit limit on an existing account or opening new credit account. Downside...if you try to open a new credit card, an inquiry will appear on your credit report and temporarily reduce your credit score. Reducing your balances on credit cards and other revolving credit accounts is likely the better option to improve your credit utilization rate, and, subsequently, your credit scores. Consistently, making on-time payments against your debt will also help you build a positive credit history, which can have additional benefits for your credit history and, by extension, your credit scores, too.

Why Choose Credit Jump?

Because you probably don't have the patience to deal with all the above information you just read.

A credit score is very important because it can determine your financial gain. More specifically, your credit rating can affect whether or not you can obtain a home loan, a car loan, a credit card, a student loan, etc. A lender may also use your score to calculate the rate you get for the loan; The lower your credit score, the higher the interest rate you’ll be charged. So over time, maintaining a good score can save you lots of money.

Lenders look at your report as a prediction of how your able to make your payments on time. At Credit Jump we can help you with adding positive credit while you work to remove the inaccurate marks that are impacting your credit score, You'll be an  authorized user to a positive credit account , which will show up  on your credit report to help increase your score while your working to remove those negative accounts or just adding more positive accounts to out weigh the negative. 

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