Frequently Asked Questions

What is Credit/FICO score?

Your credit score is a three-digit number, usually between 300 and 850, that's based on the information in your credit report.


700 or higher is generally considered a good credit score, while 800 or higher is excellent.

2 tips to improve your FICO score starting today

Set up "minimum auto payment" on your all credit accounts to avoid the late payment.
Use only 30% of your credit limit. Example: If your credit card limit is $10,000, then use only up to $3300. 

What is Free Annual Credit Report?

FREE Credit Report. Federal law (FACT ACT) allows you to:

Get a free copy of your credit report every 12 months from each credit reporting company.
Ensure that the information on all of your credit reports is correct and up to date.


3 steps to your free credit reports - Annual Credit

Experian Credit Score -FREE

 No impact to your score

Checking your own credit won’t lower your credit scores.


Get Your Free Credit Score (No Credit Card Required) | Experian

Equifax Credit Score: $1

7-Day $1 Trial — Feel Free to Cancel Anytime.

Checking your own credit will NOT harm it.



Get your $1 3-Bureau credit report with your 7-Day trial.

If you don't cancel during the trial period, you will be charged $19.95 per month. Feel free to cancel at any time; no partial month refunds.



Transunion Credit Score: $29.95

The credit scores provided are based on the VantageScore® 3.0 model. Lenders use a variety of credit scores and are likely to use a credit score different from VantageScore® 3.0 to assess your creditworthiness.

Subscription price is $29.95 per month (plus tax where applicable). Cancel anytime.



Dispute Process with  Experian

dispute-form.pdf (


To dispute an item on your Experian credit report by mail, print and fill out the online dispute form, which asks for information to verify your identity and allows you to note the specific items you're disputing and why you think they are incorrect. Then mail that form to Experian at P.O. Box 4500, Allen, TX 75013.


The dispute and investigation process cannot take more than 30 to 45 days, and most investigations are completed within a few weeks. Once the credit reporting agency has completed the investigation process, it is required to provide you with written results within five business days.

Dispute Process with  Transunion

Disputes are an important tool to take control of your credit health. Managing your information is fast, easy, free and secure through the TransUnion Service Center.


Dispute Process with  Equifax

Dispute information on your Equifax credit report

File or check on the status of a dispute for free.


Transunion - FREE credit freeze

What is credit freeze?

If you want a free option to block lenders from checking your report in order to open a new account.


Is it free?

Yes. You can add or access your Credit Freeze at any time for free on the TransUnion Service Center.

What Is a Bad Credit Score?


On the FICO® Score☉  8 scale of 300 to 850, one of the credit scores lenders most frequently use, a bad credit score is one below 670. More specifically, a score between 580 and 669 is considered fair, and one between 300 and 579 is poor. 

What is lender requirement for FICO score for a mortgage?

500 FHA (with 10% down payment

580 FHA (with 3.5% down payment)

580 USDA


620  VA




How is FICO score determined by the credit bureaus?

1. Payment History: 35%
2. Amounts Owed: 30% - As your credit utilization ratio increases, your credit score may drop and lenders may see you as a potentially risky borrower.
3. Length of Credit History: 15%
Accounts you choose to close in good standing (meaning with no late payments) remain on your credit report for as long as 10 years

4. Credit Mix: 10%
5. New Credit: 10%
Hard inquiries on the same type of loan made within a short period of time (two weeks to be safe) and consider them as one inquiry.  Note that hard inquiries made in relation to credit card applications don't get this same treatment: Each inquiry is considered separately, and can have a bigger impact if you apply for several cards in a short time span. Your credit will usually decrease less than five points for an inquiry, and if you keep up with your bills, your score will typically rebound within a few months.


How much does a credit check affect your scores?

When a company checks your credit report when you apply for new credit, such as a credit card or a loan, the process is called a "hard inquiry." This credit check remains on your credit for 2 years but has a short-term impact. After a few months, the impact to your credit scores should start to decrease. If you have multiple credit checks, outside of rate shopping, the impact to your credit scores could be greater.



Inquiries remain on your credit report for two years

How to file a dispute on your credit report?

Ways to dispute Information on Your Credit Report - Experian
TransUnion and Equifax have their own processes for disputing credit reports, but Experian provides three methods for submitting disputes:

Online: Get access to your Experian credit report and initiate a dispute at the Experian Dispute Center (more on that below). There is no cost to you for using this service.
By phone: To initiate a dispute by phone, you'll call the number displayed on your Experian credit report. If you'd like to have a copy of your credit report delivered to you by mail, call 866-200-6020.
By mail: You can dispute without a credit report by writing to Experian, P.O. Box 4500, Allen, TX 75013. (Printing out Dispute by Mail instructions can streamline the process; you can also scan the completed form and submit it electronically to

How to file dispute with Transunion ?





Dispute information on your Equifax credit report | File or check on the status of a dispute for free.

Don't close a credit card. why?

Closing a credit card will reduce your available credit, which can increase your credit utilization ratio and cause your score to decrease. Another way that closing a credit card can impact your credit score is by reducing the length of your credit history. A closed account in good standing will remain on your credit report for 10 years and will continue to benefit your credit score. Closing your credit card may initially drop your scores—but it'll be temporary, and your scores will rebound as you continue healthy credit habits.



How long  collection accounts stay on credit report?

You can't get a correctly reported collection account removed from your credit report early.

Even if you pay off the debt, the collection account will stay on your credit report for up to seven years. The timeline depends on when your debt first went delinquent, not whether you still owe the money.


However, if you notice an error with the collection account, you can file a dispute with each of the credit bureaus to have the account corrected or removed from your credit reports.


The original delinquency date is when your account first became 30 days past due

Identity Theft

Should I Dispute a Collection Account?

If the debt and the collection account in question are valid and correct, there's no basis for submitting a dispute. However, if you believe information about the collection is inaccurate, you have the right to dispute your credit report. Find out more information on how to dispute credit report information. Here are three instances when disputing a collection account might make sense:

The collection account is not yours. If you find a collection account on your credit report for a debt you don't recognize, contact the creditor or submit a dispute with the credit reporting agency that maintains the credit report it appears on. It could be the result of an error or identity theft. Once disputed, the company that reported the collection will investigate and, if it turns out not to be yours, the entry will be removed from your credit report.
The collection is expired. If more than seven years have passed since the debt originally became delinquent, you can submit a dispute asking to have the entry removed.
The collection is paid but it shows a balance. If you pay off a debt that is in collections, the collection account on your credit report should show a zero balance. File a dispute if the account continues to show an unpaid balance, since paying off a debt in collections may reflect positively to lenders and on your credit score, and may be a requirement for certain lenders.
Recovering From Collections
Seven years may seem like a long time to carry collections information on your credit report, but while you're waiting for it to expire, focus on managing the collections process, paying off your debt and working on good credit habits. Checking your Experian credit score and free credit report regularly can help you spot any new issues and track your progress.

What is credit Lock?

Credit Lock is the service provided by Credit Bureaus  to keep your credit file locked to prevent identity theft.


  Receive alerts if someone tries to access your file.

All credit applications in your name are blocked.

Easily unlock when you're ready to apply for credit.

Insurance companies and potential employers can still access your file.

What is $1M identity theft insurance.

Eligible members receive up to $1 million of zero-deductible identity theft insurance coverage upon enrollment, which covers the following:

Unauthorized electronic fund transfers (EFT)
Lost wages
Private investigator costs
Legal defense fees
* Our identity theft insurance is underwritten by insurance company subsidiaries or affiliates of American International Group, Inc. (AIG). The description herein is a summary and intended for informational purposes only and does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions.


What is TransUnion credit freeze?

It’s absolutely free to freeze and unfreeze your credit, and it won’t affect your credit score

Click here for Transunion Credit Freeze Link

What is the difference between Hard Inquiry and Soft Inquiry?

Hard Inquiry
Occurs when a potential lender obtains your credit information in connection with a credit application
Can be seen by lenders
May impact your credit score


Soft Inquiry
Occurs if you pull your own credit report using a monitoring service or get it directly from the credit reporting agency
Can also occur when a company you already have a business relationship with pulls your report before they make a marketing offer to you, or if a potential employer checks your credit when you apply for a job
Can only be seen by you
Won’t impact your credit score