Are you mystified by the United States credit system? You are not alone. The system makes you perform an “The Credit Balancing Act”. A perfect performance that would yield accolades and acclaim from top critics that analyze Broadway shows. Unless you are perfect — you credit will have blemishes.
The United States credit system was established to evaluate an individual’s ability to pay. Over the decades the system has taken on a life of its own. Technology has made it even more complex. The multitude of credit monitoring services and extensive data harvesting through Big Data have made a complex industry even more complex.
Learning the Credit Dance
To help defend yourself in the age of Big Daddy Data, you need to learn how to dance. Not talking about physical dancing. We are talking about “Digital Dancing”. Dancing the credit balancing act according to the guidelines handed down from the top three credit bureaus. Credit For Progress helps individuals with learning balancing, special maintenance techniques, and to understand how to digital dance.
There are various dance styles and moves that will help you balance credit. These areas can help you maintain scores that are above 720. Perfect these are reach personal credit scores of 800 or more.
The areas to learn more about are:
- Credit Inquiries
- Fair Credit Reporting Act
- Debt-to-Credit Ratio
- Revolving Credit Limit
- Account Status
- Derogatory Items
Learn all you can about personal credit management. It can save you a lot of money when making large purchases.
About the Fair Credit Reporting Act
Keeping Balance Securing Rights
The Act (Title VI of the Consumer Credit Protection Act) protects information collected by consumer reporting agencies such as credit bureaus, medical information companies and tenant screening services.
Information in a consumer report cannot be provided to anyone who does not have a purpose specified in the Act. Companies that provide information to consumer reporting agencies also have specific legal obligations, including the duty to investigate disputed information. In addition, users of the information for credit, insurance, or employment purposes must notify the consumer when an adverse action is taken on the basis of such reports.
Note: are you notified when adverse action is taken?
The Fair and Accurate Credit Transactions Act added many provisions to this Act primarily relating to record accuracy and identity theft.
Note: have you experienced identity theft? Do you check your credit reports often?
To help individual’s perform well during the frequent “The Credit Balancing Act” episodes that affect life decisions, Credit For Progress provides expert consulting services. Helping consumers learn the right moves to appeal to the judges (decision-makers), and land more approvals. Turn denials into approvals!
Act Now to Balancing Debt-To-Credit
Keep Upright to Win
One of the core areas of the credit balancing act is managing your Debt-To-Credit Ratio with providers. Do you know your current Debt-To-Credit Ratios? Your debt-to-credit ratio refers to the amount owed across your revolving credit accounts compared to the amount of revolving credit available. Most bureaus suggest a Debt-To-Credit Ratio of 20% or less. The amount you owe accounts for 30 percent of scoring. This is the second largest factor behind payment history.
Credit For Progress LLC
St Petersburg, Florida | Canton, Massachusetts