Usually, Low scores are the number one reason you have been turned down for credit. You can also be turned down for credit because you have no credit. As you can see above, 620 & below is Poor. You can get all 3 credit reports for FREE once a year by going to: http://www.annualcreditreport.com You won't get scores. They charge for that. However you can go to http://www.quizzle.com and get your Equifax score for FREE.
When you have low scores you have rights under the FCRA (Fair Credit Reporting Act) to dispute negative information in your credit files. Trust me you should submit disputes. Please watch this video: http://tinyurl.com/ns3vhj7
If you don't know how to submit disputes, you should seek a professional for help. Don't let anybody tell you, you can do it yourself. Either you know how to do it, or you don't. Just like you don't want to go to court without a competent attorney, you don't want to tackle repairing your credit without the right information. It could take you months to years to do it yourself. It will cost you more to keep your bad credit than to get educated and be done in 60 days or less.
Example: Let's say you wanted to buy a car for $25,000.
When you have low scores you have rights under the FCRA (Fair Credit Reporting Act) to dispute negative information in your credit files. Trust me you should submit disputes. Please watch this video: http://tinyurl.com/ns3vhj7
If you don't know how to submit disputes, you should seek a professional for help. Don't let anybody tell you, you can do it yourself. Either you know how to do it, or you don't. Just like you don't want to go to court without a competent attorney, you don't want to tackle repairing your credit without the right information. It could take you months to years to do it yourself. It will cost you more to keep your bad credit than to get educated and be done in 60 days or less.
Example: Let's say you wanted to buy a car for $25,000.
- Low Score: You are approved, but you would need a $2,500 down payment (10%), and pay $825 per month for 5 years.
- High Score: No down payment, and pay $416.00 per month, for the same 5 years.