DIY Credit & Credit Repair

Before we get into the complexities of credit repair, I think it wise that we understand the basics of credit. Credit is the ability to obtain goods or services before making the full payment, based on the trust that payment will be made in the future. In this document we will be going through the step-by-step process to understanding and improving your credit. Credit scores are used to determine your risk factor for future loans. The three-digit score is a numerical representation that indicates how risky a borrower you are from a lender’s perspective. A higher credit score can help improve the terms and conditions you qualify for. For example, your credit scores impact the deals and interest you will receive when you buy a home, finance a car, rent an apartment, apply for a job, buy insurance, purchase a cell phone, or open a new credit card. The first step to credit repair is understanding how credit reporting works.