Is Capital a Hurdle in Your Business Journey?
Are you ready to level up your personal credit?
Our story
Embarking on the entrepreneurial journey ourselves, we intimately understand the challenges of securing business funding and optimizing personal credit. Through our experiences, we've cultivated a deep passion for empowering fellow entrepreneurs to navigate these financial landscapes successfully. Our mission is to demystify the funding process and provide personalized credit underwriting services, positioning you to obtain the optimal financing your business deserves.
Frequently Asked Questions
How Can I Obtain My Credit Report?
You're entitled to a free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once every 12 months. You can request these reports through IdentityIQ.com or AnnualCreditReport.com.
How Can I Improve My Credit Score?
Improving your credit score involves:
- Paying Bills on Time: Consistently making on-time payments has a significant positive impact on your credit score.
- Reducing Outstanding Debt: Lowering your credit card balances and overall debt can improve your credit utilization ratio.
- Avoiding New Credit Applications: Each new credit inquiry can slightly lower your score; apply for new credit sparingly.
- Maintaining Long-Term Accounts: Keeping older accounts open can positively affect the length of your credit history
How Long Do Negative Items Stay on My Credit Report?
Most negative information, such as late payments or foreclosures, remains on your credit report for seven years. Bankruptcies can stay for up to 10 years.
Why Do I Have Different Credit Scores?
Credit scores can vary because:
- Different Credit Bureaus: Each bureau may have slightly different information.
- Scoring Models: FICO and Vantage Score use different algorithms.
- Lender-Specific Models: Lenders may use proprietary scoring models tailored to their criteria.
How Does Debt-to-Income Ratio (DTI) Affect Creditworthiness?
While DTI doesn't directly impact your credit score, lenders consider it to assess your ability to manage monthly payments and repay debts. A high DTI can lead to loan application denials, even with a good credit score.
What Should I Do If I Find an Error on My Credit Report?
If you identify inaccuracies on your credit report, promptly dispute them by contacting the credit bureau reporting the error. Provide documentation to support your claim.
