Wednesday, July 7, 2010


Fixing Your Credit Score via legitimate "credit rescoring" company Unfortunately, credit rescoring is not directly available to consumers, You'll have to go through your mortgage broker or lender. Legitimate credit rescoring Rapid rescoring is so new that some mortgage brokers, lenders may not be aware as to how the system works, Here's how it works. If there's a mistake on your credit report, you have to provide proof that it's a mistake. A rapid rescoring expert can research your claims and gather written documentation. Next, the expert forwards your materials to the three national credit bureaus and asks for a correction. You can do this yourself, but it takes weeks. Companies that offer rapid rescoring have dedicated phone and fax lines they use to communicate with the 3 national credit bureaus. In 24 to 72 hours, your credit report is corrected and your credit score rises as a result.
Somebody Else's mistake may be costing you thousands of dollars. Then again, your own mistake may be costing you thousands of dollars. Either way, credit rescoring can help, rapid credit rescoring requires the proper paperwork, Letter from credit granter or collection agency, Court issued documents Bankruptcy documents, etc.


I first learned as well utilized this service in 2004, I had a 620 middle score and a tax lien (mistake) on the building I leased for unpaid taxes on a business that never got off the ground nor never made a dime. I placed several calls to the court house, and brought in the proper documentation and was awarded a tax lien release, or whatever they termed that document. I faxed, certified mailed, the tax lien release letter to the three national credit bureaus; threaten to sue, the tax lien remained on my credit report(s), but now it was reporting as a paid tax lien; my credit score(s) had not changed much, so I hired the biggest credit repair law firm on the internet. over a several month period of time with legal proof in hand, their methods were only successful at removing my tax lien with one national credit bureau. My credit score(s) still had not changed much. I went back to city hall (court house) where the lien was filed and pleaded with them: " HOW CAN I GET THIS ST**& OFF MY CREDIT FILE" I did everything you people told me to do; the clerks and bank, mortgage file searchers all were laughing in tears. I went back to the internet and just ran search term after search term; deep deep deep in the search engine system I started to see "CREDIT RESCORING" almost as if it were hidden, but actually this method was not well knowned in 2004, nor today in 2008. I phoned a few companies, and after verifying bbb, dnb, etc status I spent about $200 with the mortgage company and within 72 hours 740+ credit score on all three national credit bureau reports (I WILL TAKE A LIE DETECTOR). RAPID "CREDIT RESCORING" REALLY WORKS. Lastly, if you email me and ask me what company I used I don't remember, but hopefully Google Bots will serve some credit re-scoring ads on this site, or run a mass search deep into the search system; if I find any reputable companies again I will post them.

DEBT to CREDIT RATIO: The most fraudulent belief I've been hearing for over 15 years is: "I have excellent credit, I pay all my bills off in full every month!" This is a false belief for one to buy into and understanding your debt to credit ratio holds the key to getting your "credit mindset" right. Your debt to credit ratio is your ratio of debt to total available credit you have been extended (revolving accounts only). For example, If you have $10,000 in total unsecured revolving credit accounts and you're currently in debt $2500, then your debt to credit ratio is 25%. Since the main way lenders make money is by charging interest, one of the elements of the credit scoring model is driven by your ability to maintain balances and pay over time. This shows your true (longterm) credit worthiness which is most profitable to lenders since they make money primarily via interest and not annual fees. Over the years we've discovered without question that carrying the proper debt to credit ratio will boost your score faster than paying off your bills in full each month. I have argued with the Better Business Bureau on this topic and they still disagree (despite my sending them proof from Fair Isaacs own website the organization which invented the credit scoring software used by credit bureaus). Of course, what do you do if you're like most Americans and your debt to credit ratio is too high? For example. You have $10,000 in unsecured revolving accounts but you owe $8500, thereby giving you an 85% debt to credit ratio. How can you bring it down without selling everything you own? The answer is simple and takes us to the next technique which is...

SUB-PRIME MERCHANDISE CARDS: The single most cost effective (and powerful) tool for consumers to increase their high credit limit and decrease their debt to credit ratio is the use of Sub-Prime Merchandise Cards which report to one of more of the major credit bureaus. Unfortunately, despite their immense benefits, these are the most misunderstood cards in the credit industry. A large portion of the misunderstanding is due to marketers misrepresenting the cards and the growing number of companies promoting them. When you learn how they work one quickly understands why they have been the subject of much misrepresentation.

Sub-Prime Merchandise Card is nothing more than a card attached to a line of credit which allows you to buy merchandise from a specific vendor(usually the company that sold you the card). The merchandise (in most cases) will be purchased through a catalog or online mall. These cards are marketed almost exclusively to the sub prime market via email, telemarketing and direct mail etc. The reason for this is they can advertise almost irresistible offers like "$5,000 Credit Card... GUARANTEED! No Credit Check! NO Cosigner! You cannot be turned down!" or "Unsecured $10,000 Credit Line! Everyone Approved!"; I'm sure you get the idea...While there are many companies which do this and are a "shady at best", there are a few which do it legitimately and it's the best kept secret to build your credit and build it fast.

Here's how it works: the company approves anyone with a pulse (literally) and gives them a card for$2,500 to $12,500 with NO credit check and NO cosigner. However, the card is only good for merchandise through their website or catalogs and the consumer is required to put down a deposit on whatever they purchase. After the deposit is paid, the remaining balance is financed on the card.
For example. A person buys $1,000 worth of merchandise. Their deposit is $300 so they then finance $700 on their merchandise card and make payments. Sound like a scam? If you say "Yes"like most people then you're missing the point... big time.
With a legitimate Sub-Prime Merchandise Card your credit line WILL be reported to at least one major credit bureau (or more). This means if you get a $5,000 card and you finance $500, on your credit report it will look like any other credit card and will do three extremely important things for you.
1.) It will increase your current"High Credit Limit" by $5,000 almost overnight as the account "looks" like any other unsecured revolving account.
2.) By carrying a small outstanding balance it will positively impact your credit report by building and showing potential lenders your credit worthiness.
3.) With a good payment history you are virtually guaranteed to receive "legitimate" pre-approved credit offers in the future due to other lender sending your name from the credit bureaus. This technique is hard to beat for both cost and effectiveness. Of course, the whole key is knowing exactly which cards report to the credit bureau and offer the best rates. The only thing more effective is...

PIGGYBACKING: Despite its' virtually unlimited potential, piggybacking is not used by nearly as many consumers as it should be. It's easy, effective,and extremely fast. Unfortunately,it's mostly used among parents and siblings while those who can really benefit stay in the dark.
How it works. Almost every credit card or credit account will allow the primary account holder to add on (at a later date) what's known as an"Authorized User" or "Secondary Account Holder". In most cases, when this is done, the entire account history (retroactively) gets posted to the authorized users credit report regardless of their current age or credit history! For example. If it's a credit card with a $10,000 limit which has been paid as agreed for the last 10 years, then that complete history will be posted to the authorized users' credit report. I once saw a clients' credit report who used this technique with his mother. He was only 24 at the time and he had a $15,000 Gold credit card on his report with history going back 11years! I laughed as I thought to myself that this kid would have had to be approved when he was 13 years old for this account to be his! As you can see, this strategy is usually only used by parents and their children and in most cases with no regard to the benefits the children are reaping credit wise! In fact, in recent years, due to its effectiveness, this technique has led individuals with excellent credit scores to "rent out" authorized user accounts on one or even multiple credit cards in return for a fee! I once recall seeing an ad in USA TODAY for just such an opportunity. Like most good credit loopholes, I'm sure this methods' days are numbered.

ADVANCED CREDIT PROFILING: This strategy while not complex, can be taken to very complex levels. Even in its' most basic form, it's taken advantage of by very, very few. It involves intentionally building your credit report in a way which creates a"profile" that closely fits the criteria of most lenders (as well as the overall credit scoring system). Again, this is a technique which can be used in a myriad of complex ways, but for simplicity I will explain it in its' most basic form. While many consumers will boast when they have 10, 20, 30 or even 50 thousand dollars worth of credit cards on their report, many of these same people do NOT have even one mortgage, automotive loan or lease, equipment loan or a even a line of credit with a local bank or credit union. These other forms of credit create a much more well rounded credit profile for the consumer. This is achieved by showing greater credit account diversity and experience with multiple types of credit due to the various lines held For example: A person with $50K in credit cards does not represent near the credit experience as a person with the same $50K along with a mortgage, an automotive loan and an equipment lease. We have clients who have financed vehicles not because they had to (or even wanted to) but because they "needed to" in order to create a credit profile that would position them in the future to secure the lowest possible rate on a mortgage when they applied and needed it.

More complex forms of Advance Credit Profiling
Involves one subscribing to affluent or semi-affluent business and professional publications and organizations. These would include magazines, newsletters, trade journals and national associations. The goal is to get ones name into the databases of these publications and organizations. Why? To get on highly targeted lists in order to receive select credit offers. Marketers of credit offers have found that simply renting names of consumers from the credit bureaus does not provide enough information about the person as a credit risk anymore. Therefore, it is speculated that many will rent a list from the credit bureau and then cross-reference this list against another list they have secured from a consumer source such as an affluent business or professional publication, trade journal or organization. By crossing the two lists together the marketers find the names contained on both lists. This in turn provides them with one highly refined and targeted list to mail their offer to. This results in shortening the process of securing a new quality account holder thus lowering the overall account acquisition cost of new accounts. When a consumer learns how to intentionally put themselves into these data bases to wind up on these refined lists, the credit building process is sped up exponentially. Of course, many would call this "highly speculative" but we have undeniable experience that it works.

DEPOSIT LOAN PROGRAMS: This is a technique so unbelievable that I myself proclaimed it had to be a scam before researching the facts. It allows the consumer (or business) to have a $25,000 to $250,000 loan appear on their credit report as "Paid as Agreed" by way of very creative financing. This method is extremely effective and not within the budget of most ($750 to $7,500 upfront). Also, because this technique takes advantage of certain banking laws, I have reason to believe it could be made unavailable at anytime if those banking laws were to change. This method can be used with consumer credit files on SSN's as well as business and corporate credit files done on E/TIN's as well as Dunn and Bradstreet.
The average US credit score is 678
Minneapolis Minnesota ranked #1 with an average score of 707.

Homeowners facing foreclosure (Produce The Note “How-To”)