Our Blog
Don’t use your 401k to pay off credit cards or loans!
The new Corona virus stimulus packet will allow Americans to withdraw from their 401k penalty free and here is why you shouldn’t do that to pay off loans or credit cards. The $2 trillion stimulus package, also known as the Corona Aid, Relief and Economic Security Act...
What In The World Are We Going To Do Now?
As a potential recession lurks, traditional banks and other financial institutions are tightening the reins on loans to households with shaky credit. Access to credit is being tightened as the corona virus forces mass shutdowns nationwide and around the world. Tens of...
Why are Secured Cards so valuable to your credit.
Here at Credit Services of America we like to educate our clients on different ways they can start building their credit and improving their score. One of ways we recommend doing this is by obtaining a secured credit card. Opening a secured card is simple. You will...
Why is Credit history so important?
There are 3 main factors as to why credit history is so important 1. It increases your chances of getting approved for credit. 2. The better your credit history is the more advantage you’ll have at discounts and lower interest rates. 3. Good credit helps you with not...
What is a good credit score?
It depends on exactly what you are seeking to accomplish. There are several different types of loans; autos, mortgage or revolving such as credit cards or lines of credit. When you reach the excellent credit score category you can enjoy lower rates usually followed by...
Have you ever sat and wondered how your FICO credit score is calculated?
Many people don't know or understand how their credit score is calculated which can lead to not understanding why their credit score is where its at. You can be a person with no collection accounts, no late payments and still have a poor credit score. There are so...
Can you raise your credit score?
Is it actually possible to raise your credit score? The short answer is yes! The misconception that most people have is that paying on negative accounts such as collections can raise your credit score. While that may help raise it a few points it may not be enough to...
What happens when you pay off a collection account?
The credit report represents history on all accounts. When you pay off or close a collection account, the collection company updates the account to reflect the new payment status of the account. However, closing or paying off an account does not cause it to be removed...
Common Credit Report Myths
The most common myth that people assume is that they have to wait for 7 years or more for items to fall off their credit report. Another myth is that their credit is so bad, it is beyond fixing. The majority of people have an advantage they do not realize. There is a...