One of the most commonly asked questions by potential, and current clients…Can Credit Repair Guarantee A Credit Score Increase? Well, the answer is complicated, but overall, NO. Credit Repair alone can not guarantee a Credit Score Increase.
This is a double-sided question; say a client comes to our company with 30 collections reporting negative, and no positive history such as payments being made on time or any open trade lines. Assuming the scores are in the low 500’s reporting with all three major credit bureaus, if we were to delete and wipe that slate clean of all the negative history the score then would be at a 0; in other words no history is bad history! Having even just one more inquiry after the fact reporting on a credit report would put the score back to the low 500’s and failure to meet expectations will leave this file undetermined if they’ll have a score increase.
On the flip side, if the client just has a few collection accounts floating around on the credit report but has already built the foundation for positive history on trade-lines such as credit cards, loans, and mortgages that have been paid on time for 24 months then that client’s score will increase and that client will see quicker and more drastic increases. A credit report is based on the length of credit history as well as the utilization ratio of debt on credit card accounts, which makes 70% of a score. If client’s don’t follow these steps, then our services are useless, this is why we take priority on educating our clients first. Providing resources on how to build and maintain a good credit score and properly utilize credit card debt is our number one priority.
You Can Reach Cobalt Credit Services at 1-800-216-2725 or http://BetterCreditGuaranteed.com