<![CDATA[HM Credit Solutions - Blog]]>Wed, 13 Feb 2019 19:03:33 -0800Weebly<![CDATA[Ways to detect credit and identity threats]]>Wed, 13 Feb 2019 01:20:11 GMThttp://hmcreditsolutions.com/blogfbclidiwar2ypq5dh_winjesnp4a3cffgjyalaf4d_zib9dsspinxpvgcls4gqbv6pg-480472/ways-to-detect-credit-and-identity-threatsPicture
It can happen in minutes. A data breach occurs, a hacker gains access to your personal identity and credit card data, and they begin using your information to open new credit and wreak havoc on your scores. 

That’s why it’s so important to follow these three steps to help detect threats to your personal information as soon as possible: 
1. Consistently monitor your financial accounts for unfamiliar transactions
2. Change usernames and passwords after data breaches
3. Keep an eye on your credit reports

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<![CDATA[How to Raise Your Credit Score in 30 Days]]>Mon, 28 Jan 2019 20:30:22 GMThttp://hmcreditsolutions.com/blogfbclidiwar2ypq5dh_winjesnp4a3cffgjyalaf4d_zib9dsspinxpvgcls4gqbv6pg-480472/how-to-raise-your-credit-score-in-30-daysPicture
   It is important to keep in mind that bad credit repair is like losing weight: it takes time and there is no quick way to correct a credit score. In fact, of all the ways to improve a credit score, quick-fix efforts are the most likely to be counterproductive, so beware of any advice that aims to improve your credit score quickly. The best advice for rebuilding credit is to manage it responsibly over time. If you have not done so, then you need to repair your credit history, before seeing an improvement in your credit score. The following tips will help you with that. They are divided into categories according to the data used to calculate your credit score.
 
Maintain your accounts as Credit Cards and Lines of Credit in less than 30% of use
 
Your aggregate debts and amounts owed on all credit cards and all installment accounts represent approximately 30% of your credit score. The most common revolving balances are the amounts owed on your credit cards, and there is a big difference between a person's revolving balances with a credit score of 770 and a credit score of 650.
 
A person with a credit score of 650 has revolving balances of 40% to 50% of their credit card limits. Which negatively influences your score as it is seen as excessive credit utilization.
 
Making minimum payments has a minimal impact on your score because your credit usage is still more than 30%. The big difference between two people with a credit score of 650 and 770 is the percentage of use of credit. Keep the use of your lines of credit under 30% and your credit score will improve in 30 days or less.
 
Remove accounts in collection
 
People with a credit score of 770 do not have any collection or other significant derogatory item on their credit report. If you have a billing account report on your credit report, your goal should be to eliminate the billing account.
 
Do not limit yourself to just paying a collectible account. A paid collection account usually does not help improve your credit score! Instead, negotiate a "payment for elimination" IN WRITING with the financial institution. Only when you have a written agreement, you must pay a bill and then work to have the account removed.
 
Get Credit
 
No credit account equals bad credit. It is necessary to have credit accounts so that they send information to your credit report, increasing your credit score. You must have at least 1 account open, even if you do not have negative accounts. In addition, this revolving credit account must have been used in the last 6 months.
 
There are several ways to get credit to improve your credit score in 30 days. One way is to open a secured credit card, with a preference given to a card that reports as an unsecured card with its credit limit to the 3 agencies.
 
The other way is to join an experienced commercial line (TRADELINE). Someone with a good credit history can add you as a co-signer, where you are equally responsible for all debts. Or, you can add it as an authorized user, where you are not responsible for any of the debts, and Mortgage FICO 5 will count the history as yours.
 
If you really need to improve your credit score in 30 days, you will benefit from having the help of a credit repair company like HM Credit Solutions. For more information about our credit repair programs, contact us.

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<![CDATA[What is a Credit Report?]]>Mon, 07 Jan 2019 00:09:35 GMThttp://hmcreditsolutions.com/blogfbclidiwar2ypq5dh_winjesnp4a3cffgjyalaf4d_zib9dsspinxpvgcls4gqbv6pg-480472/what-is-a-credit-reportPicture
A credit report is a consumer's financial report card. Lenders report their history with you to the credit bureaus, and the credit reports are the summary. It lists the types of credit you use, how long your accounts have been open, and whether you pay your bills on time (among other factors).
Credit card companies, banks, mortgage companies, auto loan and insurance companies, landlords and employers use credit reports to check on your credit history before deciding on doing business with you. Why? They know that if you were responsible in the past, you are likely to be responsible in the future (and vice versa).

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