BRI$K Xchange
BRI$K Xchange
Credit Improvement & Repair Services
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Credit Improvement & Repair Services
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"Your Experience should Always be a BRI$K Xchange!"
* The good news is that it doesn't take too long to build up a credit history. According to Experian, one of the major credit bureaus, it takes between three and six months of regular credit activity for your file to become thick enough that a credit score can be calculated.
* While the repair process may only take 3-6 months, the time it takes to rebuild your credit can take longer. It can take up to a year or more to achieve a good credit score, depending on how low you start.
* The good news is that it doesn't take too long to build up a credit history. According to Experian, one of the major credit bureaus, it takes between three and six months of regular credit activity for your file to become thick enough that a credit score can be calculated.
* While the repair process may only take 3-6 months, the time it takes to rebuild your credit can take longer. It can take up to a year or more to achieve a good credit score, depending on how low you start.
As long as you have patience and create a plan,
you can rebuild your credit & eventually obtain an excellent credit rating.
1.Check Your Credit Report. ...
2.Arrange to Catch Up on Your Payments. ...
3.Try to Avoid Closing Credit Card Accounts. ...
4. Use a Secured Credit Card...
* Credit rebuilding does takes time and it's measured in months and years, not days and weeks. After all, negative information remains on your credit report for seven to 10 years, and you can't fully recover until it's gone.
If time is a factor,
improve & increase your credit score:
If time is a factor,
improve & increase your credit score:
*Keep balances low on credit cards and other revolving credit: high outstanding debt can affect a credit score.
*Pay off debt rather than moving it around: the most effective way to improve your credit scores in this area is by paying down your revolving (credit cards) debt.
Choosing either one of the plans below is a great way to begin rebuilding;
Choosing either one of the plans below is a great way to begin rebuilding;
1.Correct any errors on the credit report. ...
2.Become an authorized user. ...
3.Raise your available credit. ...
4.Negotiate. ... ~OR~
5.1. Make minimum payments on time. ...
6.Reduce debt-to-income ratio. ...
7. Sign up for Credit Karma
1.Clean up your credit report. ...
2.Pay down your balance. ...
3.Pay twice a month. ...
4.Increase your credit limit. ...
5.Open a new account. ...
6.Negotiate outstanding balances. ...
7.Become an authorized user.
Establish Credit
Establish Credit
1.Apply for a secured credit card. If you're building your credit score from scratch, you'll likely need to start with a secured credit card.
2.Apply for a credit-builder loan.
3.Get a co-signer.
4.Become an authorized user on someone else's credit card.
5.Get credit for the rent you pay.
Without Credit Cards
Without Credit Cards
1.Use charge cards. A charge card is like a credit card, but cardholders are expected to pay off their balances in full each month.
2.Utilize other types of loans.
3.Credit builder loans.
4.Pay off as much debt as possible.
5.Keep accounts open.
6.Examine your credit report.
Raise your Credit
Raise your Credit
1.Watch those credit card balances.
2.Eliminate credit card balances.
3.Leave old debt on your report.
4.Use your calendar.
5.Pay bills on time.
6.Don't hint at risk.
7.Don't obsess.
Here are a few ways you can position yourself and your finances to improve your chances of landing a loan.
1.Save a larger down payment. For those with a credit score below 580, a larger down payment is a necessity — not an option. ...
2.Go with an FHA loan. ...
3.Know what to emphasize to a lender.
4.Try a private mortgage.
Federal Housing Administration
*The Federal Housing Administration, or FHA, requires a credit score of at least 500 to buy a home with an FHA loan. A minimum of 580 is needed to make the minimum down payment of 3.5%. However, many lenders require a score of 620 to 640 to qualify.
*If your score is 580 or above you can qualify with just 3.5% down. While you need 3.5% down for FHA, they do allow 100% of the down payment to be a gift. Or you can find down payment assistance programs that could allow you to buy a home with no money down. USDA and VA loans require zero down payment.
*Most FHA mortgages require a 3.5 percent down payment -- that's $3,500 for every $100,000 you borrow. If your FICO credit score is below 580, you'll have to come with a 10% down payment. Most non-FHA loans require a down payment of at least 5%, and often as much as 20 percent, of the purchase price.
*Mortgage interest rates with a 700 credit score. ... Generally, you need a credit score of 620 or better to qualify for a conventional Fannie Mae loan or an FHA loan with a 3.5 percent down payment. If you're interested in a no-down payment USDA loan, the minimum credit score rises to 640.
*It is possible to qualify for a mortgage even with a poor credit score, but good credit scores of 670 or higher are more commonly approved by lenders, and very good to exceptional credit scores above 800 are the most attractive to lenders.
Average Car Loan Rates by Credit Score​
Average Car Loan Rates by Credit Score​
Credit Score Range
Super Prime: 781 to 850
Prime: 661 to 780
Nonprime: 601 to 660
Subprime: 501 to 600
Credit Score Range
Super Prime: 781 to 850
Prime: 661 to 780
Nonprime: 601 to 660
Subprime: 501 to 600
New Car Loan
2.6 percent
3.59 percent
6.39 percent
10.65 percent
New Car Loan
2.6 percent
3.59 percent
6.39 percent
10.65 percent
Used Car Loan
3.4 percent
5.12 percent
9.47 percent
15.72 percent
Used Car Loan
3.4 percent
5.12 percent
9.47 percent
15.72 percent
Getting a car loan with a 700 credit score. ... For many dealer-lenders, excellent payment history on past auto loans is the primary consideration. If you apply for car loan through a bank, a 700 credit score may not be good enough for approval at the best terms if you have a shorter credit or employment history. Buy here/pay here lots and personal lenders may also approve you at a higher percentage rate.
Getting a car loan with a 700 credit score. ... For many dealer-lenders, excellent payment history on past auto loans is the primary consideration. If you apply for car loan through a bank, a 700 credit score may not be good enough for approval at the best terms if you have a shorter credit or employment history. Buy here/pay here lots and personal lenders may also approve you at a higher percentage rate.
Business Creation -> Business Credit
Business Creation -> Business Credit
Use the IRS Where’s My Refund Button to learn more about the status of your return within 24 hours after the IRS have received your e-filed return. Where’s My Refund? has a tracker that displays progress through 3 stages:
(1) Return Received, (2) Refund Approved (3) Refund Sent.
Use the IRS Where’s My Refund Button to learn more about the status of your return within 24 hours after the IRS have received your e-filed return. Where’s My Refund? has a tracker that displays progress through 3 stages:
(1) Return Received, (2) Refund Approved (3) Refund Sent.
