Can I Just Get The Real Deal About Credit?

By Shameka J. Bishop

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Even if you know absolutely nothing about credit, today you will understand how credit works and getting a 700+ credit score like myself. And I’m not going to use 15 syllable words.

So how long are you willing to live with bad credit? How long are you going to let the credit bureaus and debt collectors have a hand in your future dreams? According to the Fair Credit Reporting Act, you have the right to fair and accurate reporting of your credit information. Debt collectors must report accurately, down to the dates, companies and alleged debt amount plus more. You are entitled to certain privacy rights, concerning your credit information and protection from the misuse of this credit information. Credit Bureaus compile information on your name and social security number, through debt collectors and other various agencies. They are basically “Data Dumps”. This information is then relayed in the form of a credit score to creditors, landlords and employers with YOUR consent only.

When this information is inaccurate credit issuers may not extend credit to you and employment may be denied. You have the right according to the Fair Debt Collection Practices Act, for debt collectors not to harass you. That includes continuous calling to annoy you, use of profane language, threat of violence and even publishing your name to an alleged debt. That is a violation of the law.

Now, let's talk about getting a 700+ credit score like myself.

When it comes to checking my credit scores, I use a credit scoring model called FICO (Fair Isaac Corporation). This is because FICO uses just your own information under your name and social security number. It does not take into account that you are an authorized user (Piggy Backing), unlike other scoring models such as the “Vantage”. So FICO is considered the most accurate.

Most major credit card issues and lenders in the U.S. use FICO when deciding to extend credit to you and at what A.P.R ( Annual percentage rate- What percentage it will cost to secure credit). FICO does not collect data on it’s own. It pulls your credit reports from the Three Credit Bureaus: Experian, Equifax and Transunion. That info is then crunched down to a credit score. The 5 factors and percentages that affect your credit score are:

1. Do you pay your bills on time- 35% of your credit score
2. Do you use a lot of credit- 30% of your credit score
3. How long have you had credit- 15% of your credit score
4. How much new credit do you have- 10% of your credit score
5. Do you have different types of credit- 10% of your credit score

The first two factor pieces are nearly ⅔ of your score or 65%. Wow! So you have been taught to be effective in the first two factor pieces, the final three factor pieces will move you from a good score to a great one.

You can have great credit! All it takes is Credit Education and Repair. Which is our speciality at RCA Credit Repair. Your Credit profile and Credit scores are in the palm of your hands, literally. Do not allow low credit scores and debt collection companies to dictate how much financial freedom you have.

Using the CREDIT LAWS and our specialized skills, we demand collection agencies to remove inaccurate debt. If you need assistance in fighting the credit giants and taking back your financial freedom, please contact my company for support and watch your bad credit and low credit scores and fear be a memory of the PAST.

Remember: Credit=Access Access=Opportunity & Opportunity Creates Options

Shameka Bishop is the Owner of RCA Credit Repair LLC. and she is “The Bishop of Credit”. Using the CREDIT LAWS and our specialized skills, RCA Credit demands collection agencies to remove inaccurate debt. If you need assistance in fighting the credit giants and taking back your financial freedom, please contact us for support and watch your bad credit, low credit scores and fear be a memory of the PAST.

WWW.BISHOPOFCREDIT.com

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