Frequently Asked Questions (FAQ)

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We are not licensed attorneys and do not provide legal advice. All information provided is for educational and informational purposes only. Credit and funding results vary for each client, as every financial profile is unique. We do not guarantee specific outcomes, and all decisions should be made at your own discretion or with the assistance of a financial or legal professional.

Personal credit refers to your financial history, including your credit score, accounts, payment history, and overall financial behavior. It determines your ability to qualify for credit cards, loans, and mortgages.

A credit score is a three-digit number that represents your creditworthiness. It is calculated based on your credit history, payment habits, credit utilization, length of credit history, and types of credit used.

Credit scores typically range from 300 to 850, with higher scores indicating better creditworthiness:

• 300 – 579: Very Poor
• 580 – 669: Fair
• 670 – 739: Good
• 740 – 799: Very Good
• 800 – 850: Excellent

A good credit score is generally 670 and above. Having a good credit score helps you qualify for better loan terms, lower interest rates, and higher credit limits.

A bad credit score is typically below 580. A lower score may result in difficulty getting approved for credit, higher interest rates, and stricter loan terms.

To improve your credit score:

• Pay bills on time
• Keep credit utilization below 30%
• Avoid opening too many new accounts at once
• Keep old credit accounts open to maintain credit history
• Check your credit report for errors and dispute inaccuracies

Your credit score is influenced by:

• Payment History (35%) – On-time vs. late payments
• Credit Utilization (30%) – Percentage of available credit used
• Length of Credit History (15%) – How long your accounts have been open
• New Credit (10%) – Recently opened accounts and hard inquiries
• Credit Mix (10%) – Variety of credit accounts (credit cards, loans, mortgages)

You should check your credit score at least once a month or before applying for major credit like a mortgage, auto loan, or new credit card.

• Soft Inquiries (checking your own score, employer background checks) do not hurt your credit.
• Hard Inquiries (lenders pulling your credit for a loan or credit card) can lower your score slightly.

• FICO Score: Created by the Fair Isaac Corporation (FICO), it is the most widely used credit score. Over 90% of top lenders use FICO Scores for loan approvals, credit cards, mortgages, and auto loans.
• VantageScore: Developed by the three major credit bureaus (Equifax, Experian, and TransUnion) as an alternative to FICO. It is used by some financial institutions, credit monitoring services, and alternative lenders.

Additionally, FICO allows a 45-day window for multiple credit inquiries to count as one (for mortgages, auto loans, and student loans), whereas VantageScore limits this to 14 days. While both use a 300–850 scale, they weigh factors differently—FICO focuses more on credit utilization (30%), while VantageScore emphasizes payment history (40%) and considers trended data (spending patterns over time). If applying for a loan, checking your FICO Score is best, as it's the industry standard, whereas VantageScore is useful for monitoring credit trends.

• Late payments: 7 years
• Collections: 7 years
• Bankruptcies: 7-10 years
• Hard inquiries: 2 years

How Long Does Credit Restoration Take?The time it takes to restore credit depends on the number of negative items, the complexity of disputes, and the responsiveness of credit bureaus and creditors. Some disputes may be resolved in 30 to 45 days, as credit bureaus have a legal obligation to investigate disputes within this timeframe. However, complete credit restoration may take 3 to 6 months for moderate cases and up to 12 months or more for severe credit issues. Consistently paying bills on time, reducing credit utilization, and adding positive credit lines can speed up the process. Each case is unique, so patience and persistence are key to achieving a stronger credit profile.

Yes, if the item is inaccurate, outdated, or unverifiable, you can dispute it with the credit bureaus to have it removed. Under the Fair Credit Reporting Act (FCRA), consumers have the right to challenge incorrect information. Common FCRA violations include:

• 15 U.S.C. § 1681s-2(b) – Failure of a furnisher to investigate a disputed item within 30 days.
• 15 U.S.C. § 1681e(b) – Failure of a credit bureau to maintain maximum possible accuracy in credit reports.
• 15 U.S.C. § 1681i(a) – Failure of a credit bureau to properly reinvestigate disputed information.

If any of these violations occur, you may have legal grounds to demand removal or correction of the item.

You can get a free credit report once per year from each of the three major credit bureaus at AnnualCreditReport.com.

The three major credit bureaus in the U.S. are:

• Experian
• Equifax
• TransUnion

• Open a secured credit card
• Become an authorized user on someone else’s credit card
• Apply for a credit-builder loan
• Make on-time payments for bills that report to credit bureaus

• Credit Strong – Provides installment loans that build credit while saving money.
• Self (Self Lender) – Offers a credit-builder loan that reports monthly payments.
• Kickoff Credit – Offers a no-interest credit-building account.
• Grow Credit – Reports your subscription payments (Netflix, Hulu, etc.) as credit.
• Experian Boost – Adds phone and utility payments to your Experian credit report.

Best Tradeline Vendors for Personal Credit

If you're looking to build or enhance your personal credit profile, consider working with reputable tradeline vendors. Below are some of the best tradeline providers for personal credit:

Authorized User Tradeline Vendors:

• Tradeline Supply Company (www.tradelinesupply.com)
• BoostMyScore (www.boostmyscore.com)
• Credit Pro Tradelines (www.creditprotradelines.com)
• Superior Tradelines (www.superiortradelines.com)
• Personal Tradelines (www.personaltradelines.com)

 Primary Tradeline Vendors:

• My Jewelers Club (www.myjewelersclub.com)
• New Coast Direct (www.newcoastdirect.com)
• Hutton Chase (www.huttonchase.com)
• Shop Simplio (www.shopsimplio.com)

These vendors provide different types of tradelines, including authorized user tradelines and primary tradelines, which can help improve your personal credit score by increasing your available credit and payment history length.

• FICO 8 & 9 – General use, most lenders use FICO 8.
• FICO Auto Score 2, 4, 5, 8, 9 – Used by auto lenders.
• FICO Bankcard Score 2, 4, 5, 8, 9 – Used by credit card issuers.
• FICO Score 2, 4, 5 (Classic Scores) – Used by mortgage lenders.

A tradeline refers to an account listed on your credit report, such as a credit card, loan, or mortgage. Tradelines help establish your credit history.

Yes, purchasing tradelines (becoming an authorized user on someone else’s account) can help improve your credit score temporarily, but there are risks.

• Only buy from reputable tradeline providers with verified results.
• Ensure the account is old (3+ years) and has a perfect payment history.
• Don’t rely solely on tradelines—work on building your own credit.

• Pay down high balances.
• Dispute inaccurate items.
• Become an authorized user on an old account.
• Ask for a credit limit increase to reduce utilization.

Yes, paying off debt can improve your credit utilization and payment history, leading to a better credit score.

Yes! You can build credit using:

• Auto loans, student loans, or mortgages
• Rent reporting services
• Utility bill reporting

• Your creditor may charge a late fee
• A 30-day late mark can appear on your credit report
• Your interest rate may increase
• Your credit score may drop

Our Credit Counseling Services involves:

• Identifying inaccurate, outdated, or unverifiable items
• Disputing errors with the credit bureaus
• Negotiating with creditors for pay-for-deletion or goodwill adjustments

How Does a Pledge Loan Work and How Can I Capitalize to Get Funded?

A pledge loan is a type of secured loan where you use your own savings, investments, or other assets as collateral to borrow money from a financial institution. This loan allows you to access funds while keeping your assets intact and earning interest. The lender places a hold on your collateral, and as you make payments, the hold is gradually released. This is a great strategy for building credit, as on-time payments improve your credit profile without requiring new unsecured debt.

To capitalize on a pledge loan and secure funding, consider these steps:

1. Choose the Right Financial Institution: Many banks and credit unions offer pledge loans with low interest rates.
2. Use Your Own Funds as Collateral: Deposit money into a savings account or certificate of deposit (CD) to secure the loan.
3. Make On-Time Payments: Since pledge loans report to the credit bureaus, timely payments boost your credit score.
4. Leverage the Improved Credit Profile: Once your credit score increases, you can qualify for higher credit limits, business loans, or lines of credit.
5. Use the Funds Strategically: Invest the borrowed money in assets that generate income or help build more financial stability.

A pledge loan is a smart way to build credit, secure low-cost funding, and demonstrate financial responsibility, making it easier to get approved for larger funding opportunities in the future.

Errors in consumer credit reports can significantly impact your credit score. Here are the most common errors found:

1. Incorrect Personal Information – Misspelled names, wrong addresses, or incorrect Social Security Numbers.
2. Accounts That Don’t Belong to You – Accounts mistakenly assigned to the wrong consumer due to similar names or identity theft.
3. Duplicate Accounts – The same account appearing multiple times, making it look like you have more debt than you do.
4. Outdated Information – Negative information such as late payments or collections remaining on your report longer than legally allowed.
5. Incorrect Account Status – Closed accounts reported as open, paid-off accounts marked as delinquent, or incorrect balances.
6. Incorrect Payment History – Payments marked as late even when they were made on time.
7. Incorrect Credit Limits – Errors in reported credit limits can affect your credit utilization ratio.
8. Fraudulent Accounts – Accounts opened fraudulently under your name that you never authorized.
9. Incorrect Public Records – Bankruptcy, judgments, or liens inaccurately reported or included after being resolved.
10. Inaccurate Hard Inquiries – Credit inquiries appearing on your report that you never authorized.

How to Dispute Errors:If you find errors on your credit report, you can dispute them by:

• Contacting the credit bureau that issued the report (Experian, Equifax, or TransUnion).
• Submitting a dispute online, via mail, or by phone with supporting documentation.
• Contacting the furnisher (the company that provided the incorrect information) to correct the issue.

Disputing incorrect personal information is critical because your personal details (name, address, Social Security Number, and date of birth) are tied to all the accounts on your credit report. If your personal information is incorrect, it can:

• Cause accounts to be misattributed to someone else with a similar name.
• Prevent disputes from being processed correctly.
• Lead to identity mix-ups, which may include someone else's credit activity appearing on your report.
• Result in denied credit applications due to conflicting information.

By correcting your personal information first, you ensure that any subsequent disputes on accounts or inquiries are handled accurately and efficiently by the credit bureaus.

Before disputing inaccuracies on your credit report, it is recommended to freeze the secondary reporting agencies to prevent them from verifying outdated or incorrect information. These agencies provide data to the three major credit bureaus (Experian, Equifax, and TransUnion), and freezing them can:

• Prevent reinsertion of disputed negative items by blocking outdated data from being re-reported.
• Enhance the success rate of disputes by limiting access to unverifiable records.
• Protect against identity theft by preventing unauthorized access to personal and financial information.
• Ensure only accurate data is being used by creditors and lenders when assessing your creditworthiness.

To freeze your reports with secondary reporting agencies, visit the official links provided here: List of Secondary Credit Bureaus & How to Freeze Them.  https://files.consumerfinance.gov/f/documents/cfpb_consumer-reporting-companies_list_2025.pdf

When disputing errors on your credit report, it is highly recommended to send your disputes via Certified Mail with Return Receipt Requested instead of standard first-class mail. The reasons include:

• Proof of Delivery – Certified mail provides a tracking number and confirmation that the credit bureau or creditor received your dispute.
• Legal Documentation – If the dispute is ignored or not addressed properly, certified mail serves as proof of submission for legal or regulatory complaints.
• Faster Response – Certified mail often gets prioritized over standard mail, ensuring quicker processing.
• Prevention of Lost Mail – Important dispute letters can get lost in the standard mailing system; certified mail helps avoid this issue.

If credit bureaus or creditors fail to properly investigate your disputes, filing complaints with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB) can increase the chances of getting errors resolved. Here's why:

• The CFPB regulates the credit bureaus and holds them accountable for compliance with the Fair Credit Reporting Act (FCRA).
• Complaints submitted through the CFPB must be responded to within 15 days by the credit bureaus.
• It adds pressure on the credit bureaus to take your dispute seriously and properly investigate it.

How to File a CFPB Complaint:

• Visit Consumer Financial Protection Bureau
• Provide details of the issue and any supporting documents.
• Submit and track your complaint online.

• The BBB tracks consumer complaints against companies, including credit bureaus.
• A negative BBB rating can encourage companies to resolve disputes more efficiently.
• Some consumers have reported successful dispute resolutions after filing BBB complaints.

How to File a BBB Complaint:

• Visit Better Business Bureau
• Locate the reporting agency (Experian, Equifax, TransUnion) and file a complaint.
• Provide documentation supporting your claim.

• CFPB complaints are more effective because credit bureaus are legally required to respond.
• BBB complaints can work, but they are more of a public reputation tool rather than a regulatory enforcement method.
• Consumers often see faster resolutions after filing CFPB complaints, especially if the credit bureau has ignored previous disputes.

Do’s and Don’ts for Personal Credit

 Do’s:

• Pay all bills on time to maintain a strong credit score.
• Keep credit utilization below 30% to improve your credit profile.
• Regularly monitor your credit report for errors and disputes.
• Maintain a mix of credit types (credit cards, loans, mortgages) for a diverse profile.
• Apply for credit sparingly to avoid too many hard inquiries.
• Keep old credit accounts open to maintain a long credit history.

 Don’ts:

• Do not max out credit cards, as it negatively impacts your score.
• Avoid making late payments, as they can stay on your report for years.
• Do not apply for too many new credit accounts at once.
• Avoid co-signing loans unless you are confident in the borrower’s ability to pay.
• Do not ignore your credit report; check it at least once a year.
• Avoid closing old accounts unless necessary, as it can reduce your credit age and score. 

1. What is Business Credit?

Business credit is a separate financial profile for businesses, based on an EIN (Employer Identification Number) instead of a personal Social Security Number (SSN). Strong business credit helps businesses qualify for loans and credit lines without personal guarantees. Business credit is reported by agencies such as Dun & Bradstreet, Experian Business, and Equifax Business.

2. How Do I Build Business Credit?

Building business credit requires the right foundation to ensure long-term success. We highly recommend enrolling in our Business Credit Academy, which provides step-by-step guidance on:

Setting up a Proper Business Structure – Choose the right legal entity such as an LLC, Corporation, or Partnership. You can form an LLC through online services like:

• LegalZoom
• Incfile
• MyCorporation
• ZenBusiness
• Or directly through your state's business registration portal.

3.Obtaining an EIN (Employer Identification Number) and DUNS Number – An EIN is required to open a business bank account and file business taxes. You can apply for an EIN for free on the IRS website. A DUNS Number from Dun & Bradstreet is crucial for building business credit and can be obtained from DNB.com.

4. Opening a Business Bank Account – Keeping personal and business finances separate is essential. Choose a bank that reports to business credit bureaus, such as:

• Chase (www.chase.com)
• Bank of America (www.bankofamerica.com)
• Wells Fargo (www.wellsfargo.com)
• Truist (www.truist.com)
• Capital One (www.capitalone.com)
• PNC Bank (www.pnc.com)

5.Registering with Business Credit Bureaus – Ensure your business is listed with:

• Dun & Bradstreet (D&B)   (Do this first....wait for application approval and DUNNS Number)
• Experian Business
• Equifax Business

6. Applying for Vendor Tradelines and Business Credit Cards – Start by getting Net 30 accounts with vendors that report to business credit bureaus. Some reputable options include:

• Uline (www.uline.com)
• Grainger (www.grainger.com)
• Quill (www.quill.com)
• Crown Office Supplies (www.crownofficesupplies.com)
• Summa Office Supplies (www.summaofficesupplies.com)
• CEO Creative (www.theceocreative.com)
• Shirtsy (www.shirtsy.com)
• Nav (for business credit monitoring and reporting) (www.nav.com)

Once your business credit is established, you can apply for premium tradelines, such as:

• Shell Small Business Card (www.shell.us)
• ExxonMobil Business Card (www.exxonmobil.com)
• Fuelman Fleet Card (www.fuelman.com)
• Staples Business Credit (www.staples.com)
• Amazon Business Credit Line (www.amazon.com)
• Home Depot Commercial Account (www.homedepot.com)
• Lowe’s Business Account (www.lowes.com)

9. Maintaining Strong Payment History and Low Utilization – Just like personal credit, on-time payments and keeping balances low improve your business credit score.

10.Why is Business Credit Important?

• Access to Higher Credit Limits – Business credit lines are typically larger than personal credit.
• Separation of Personal and Business Finances – Protects your personal credit score.
• Better Financing Options – Businesses with good credit qualify for better loans and lower interest rates.
• Establishes Business Credibility – Vendors and lenders trust businesses with strong credit profiles.

11. How Long Does It Take to Build Business Credit?

Building business credit typically takes 3-6 months to establish tradelines and 1-2 years to achieve strong credit that qualifies for higher limits and better financing.

By following these steps, you can establish and grow a solid business credit profile that provides long-term financial benefits for your company.

12.Why Do Some Banks Require a Personal Guarantee (PG) for Business Credit?

Many banks require a personal guarantee (PG) for business credit because they want to minimize risk, especially for new or small businesses with little to no credit history. A PG means that if the business fails to repay, the business owner is personally liable for the debt. Once a business establishes strong credit and a history of responsible financial management, banks may offer credit lines without a PG.

13. What is the Buying Power of Business Credit Compared to Personal Credit?

Business credit typically provides much higher credit limits than personal credit. While personal credit cards may have limits ranging from $5,000 to $50,000, business credit lines can exceed $100,000 or more, depending on the business's financial health and creditworthiness. This allows businesses to fund larger purchases, expand operations, and maintain cash flow without tapping into personal finances.

Do’s and Don’ts for Business Credit

Do’s:

• Establish your business as a separate legal entity (LLC or Corporation) to build business credit properly.
• Obtain an EIN and a DUNS number to start your credit profile.
• Open a business bank account and maintain a healthy financial history.
• Apply for Net 30 vendor accounts that report to business credit bureaus.
• Keep all business and personal finances separate to avoid commingling funds.
• Make all business credit payments on time to maintain a strong credit profile.
• Regularly monitor your business credit reports for accuracy and fraud.

Don’ts:

• Do not use personal credit for business expenses if you intend to build business credit.
• Avoid maxing out business credit lines, as high utilization can negatively affect your score.
• Do not apply for too many credit accounts at once, as excessive inquiries can lower your credit score.
• Avoid late payments or defaults, as they can severely impact your business credit.
• Do not close old business credit accounts unless necessary, as they contribute to your credit history length.

If you're needing assistance please feel free to reach out.