Free Credit Rebuilding Program: 7 Steps to a 720

Accessing Your Credit Report

Begin by obtaining a copy of your credit report from the three major bureaus: Experian, Equifax, and TransUnion. You can access one free report annually at AnnualCreditReport.com.

Identifying Errors

Look for inaccuracies such as:

• Incorrect account balances.
• Accounts you didn’t open.
• Late payments that you can prove were on time.

Correcting these errors can lead to immediate score improvements. We have a third-party company that will assist all interested clients with this process.

Disputing Inaccuracies

File disputes directly with the credit bureaus and providing documentation to support your claims, such as bank statements or payment confirmations, is essential. We have a third-party company that will assist all interested clients with this process.

Ideal Credit Utilization Ratio

Keep your credit utilization ratio below 30%. This means if your credit limit is $10,000, aim to use no more than $3,000.

Practical Tips

• Pay down high balances first.
• Request credit limit increases to lower your utilization percentage.

Choosing Credit-Builder Cards

Opt for secured credit cards or those designed for rebuilding credit. These often require a
deposit but report to all major credit bureaus.

Avoiding Common Pitfalls

• Avoid cards with exorbitant fees.
• Use credit responsibly to avoid falling back into debt.

Setting Up Reminders

Late payments can significantly harm your score. Use tools like:

• Calendar reminders
• Payment scheduling apps

Automating Payments

Set up automatic payments to ensure bills are paid on time every month.

Factors That Impact Scores

Key elements include:

• Payment history (35%)
• Credit utilization (30%)
• Length of credit history (15%)

Debunking Myths

• Closing old accounts can hurt your score
• Checking your credit does not lower it if it’s a soft inquiry

Budgeting and monitoring your spending are essential to long-term success. Additionally,
preparing your credit profile before applying for significant loans, such as mortgages or car
loans, ensures you’re in the best possible financial position.