credit Repair

Adding value to your finances

credit education

“Understanding credit and, more importantly, learning how to safely build your credit is really critical, and it can make a dramatic difference to people’s financial future and their ability to move themselves ahead financially and potentially out of poverty and into financial security” – Margery Austin Turner

late     payments

and why they matter

Your payment history is the most significant factor in your FICO credit score, with a 35% weighting. Even if your credit reports are in good shape, one late payment can damage your credit. The impact of one late payment depends on several factors, including whether or not your lenders ever report late payments to credit bureaus. Payments less than 30 days late are unlikely to appear in your credit report. After that, payments get categorized (30 days, 60 days, 90 days, and so on, until the lender resorts to a charge-off). Paying 90 days late has a more severe impact than paying 31 days late

One or two late payments will undoubtedly damage your credit. A recent late payment can cause as much as a 90- to 110+ point drop on a FICO score of 780 or higher.” Although score drops from late payments tend to rise again over time, these credit dings can remain on your credit report for seven years, but the damage is limited if you avoid making a habit out of it.  Fresh information is meaningful for the scoring model. Still, it can be helpful to remove late payments that are several years old, because any negative items in your credit will weigh down your scores.

did you know?

FICO® score Models – information


FICO® Scores help lenders make more informed credit-granting decisions, and to help ensure you get access to the credit you need. Some lenders still using scoring model 8. For more detailed explanation of how each score works click here

  • FICO® Score 10 was released in 2020
  • FICO® Score 9 was released in 2014
  • FICO® Score 8 was introduced in 2009
  • All Models adopt 5 factors –
    1. Payment History
    2. Amounts Owed
    3. Age of Credit History
    4. Credit Mix and
    5. New Credit Accounts

Credit Score Stats – Editor’s Choice


  • One in five Americans aged 20-29 don’t know their credit scores. 

  • More than 29.8% of Americans have a credit score of 680 or higher.

  • Nearly one in two people don’t pay off their credit balances each month.

  • Only 12% of the US population has a FICO score lower than 550.

  • Americans owe more than $1.5 trillion in student debt.
  • 42.5% of America’s youth earning $49,999 or less per year have a credit score of 639 or lower, with only 24.6% reaching a score over 680.

  • 51.2% of Americans renting property have no idea they can report rent and utility bill payments to improve their credit scores.

- top four -

FICO® Score


Checking my own credit report lowers my score.

FACT - Checking your own credit report will never impact your FICO scores


I need to have large income to have high FICO scores.

FACT - Having a high salary income does not factor in your FICO scores


Using Debit cards helps build good credit score.

FACT - Debit cards are not a form of credit and has no influence on your credit score


Paying off Debts will erase them from my credit report.

FACT - Paying off bad debt might hurt your score and remain on file longer

Are you getting a

Here is a table to consider when getting a loan for a Mortgage, Auto, or Credit Card.

Credit Score Mortgage Rates Auto Loan Rates Insurance Rates Credit Card Rates Notes
350 - 549
8.6% 17.9% Credit Scores increases rates in 14.4% or higher 24.99% 24.99%
550 - 619
5.7% 11.5% Credit Scores increases rates in 14.4% of cases 23.99% 23.99%
620 - 679
4.8% 7.25% Credit Scores do not change rates 40% of the time 16.99% 16.99%
680 - 739
4.1% 4.05% Good Scores decrease rates in 45% of cases 13.49% 13.49%
740 - 850
3.8% 3.24% Excellent Scores 24% lower premiums than median scores 11.99% 11.99%

These Rates are for illustration purpose only. Actual rates may vary and are subject to change. For more information on rates you can click here.

Free download

Discover -
Do it Yourself
Free Resources

Educate yourself and learn about your rights under State, City and Federal laws. The more you know the better you’ll be.