Facts About Credit Having bad credit is nothing to be ashamed of, in fact it happens to a lot more people then you might think. If no one had bad credit then there would not be credit repair services. Let us a Badcredit.pro help you.

Fast Credit Facts:

• 20% of all Americans have maxed out their spending limits on their credit cards.
• ¼ of all citizens in the United States have had a history of credit problems.
• The average credit debt per household is over $8,000.
• 185 million Americans have at least one credit card
• 1.3 million of those 185 million will declare for bankruptcy.
• The average American pays 18.3% interest on there credit cards.
• The average American household will pay $83 a month in credit card interest.
• The typical credit card purchase ends up being 112% more than cash.
• 40% of American families spend more money then they actually earn.

Credit FAQs

What is a good credit score?
There is no golden line for determining a good credit score. It all depends on your lender and what they think. It can also vary based on what you are applying for. It is best to ask the lender what type of credit score they are looking for.

Why is a good credit score important?
A good credit score gives you more options. It gives you more opportunities to access credit faster and on much better financial terms. With a good credit score you can receive larger amounts of credit and pay lower interest rates.

What do I do if there is an error on my credit report?
Contact the credit reporting agency if you think there has been an error on your report. If you notify them they are required to investigate and have an answer within 30 days. If they can’t figure anything out in 30 days the error will be removed from your credit report automatically. 

If I close old accounts, that will raise my credit score right?
Actually closing old accounts may lower your credit score. If you have late fees on those accounts they won’t go away if you close them. Having old, established accounts shows a history of credit management that can actually help improve your credit score.

How would identity theft affect my credit report?
If you are a victim of identity theft you will not be responsible for the false marks on your credit as long as you report this to the credit bureau.

Where can I access my credit report?
http://www.creditreports.pro

Does it cost anything to access my credit report?
Thanks to the Accurate Credit Transactions Act (FACTA) of 2003 you are granted one free credit report every 12 months. If you access your credit report again during that time period it will hurt your credit score (only a minor amount).

3 Easy Steps to Improve Your Credit

Pay your bills on time, this may seem simple but it is biggest reason people have bad credit.

Pay more then the minimum balance on your monthly credit bills. Paying the minimum lowers your credit score.

Check your credit report every year. If you have no idea what your credit score is, how can you go about improving it?

From the Bad Credit Blog...

No Blog Entries Available at this Time

Additional Bad Credit Resources...