WITH RX MY CREDIT,
YOU GET:

A credit score is a complex mathematical model that evaluates many types of information in a credit file. A credit score is used by a lender to help determine whether a person qualifies for a particular credit card, loan, or service. Most credit scores estimate the risk a company incurs by lending a person money or providing them with a service –– specifically, the likelihood that the person will make payments on time in the next two to three years. Generally, the higher the score, the less risk the person represents.

Most negative listings may be kept on your credit report for a period of 7 years beginning on the date that you were last reported late before they repair themselves. This means that if you were late every month from March to August of 1995, that your date of last activity would be on August of 1995. There are several exceptions to the seven year rule. Bankruptcies may be reported for 10 years from the date that the bankruptcy was discharged. Liens and judgments may be reported for seven years or until the statute of limitations in that state (usually between seven and ten years) runs out, whichever is longer.

Type of Credit (35%), Current Credit usage (30%), Time credit has been in use (15%), Credit Inquiries (10%), Payment History (10%).

Applicant applied for credit under different name (ex. Robert Jones, Bob Jones), Applicant gave an inaccurate Social Security Number (or misread by lender), Loan or credit payments were inadvertently applied to wrong account.

FICO is the acronym for the Fair Isaac Corporation, a private corporation creating the most-known and -widely used credit score model in the United States. The FICO Score is calculated statistically, with information from a borrower’s credit files. FICO scores show the likelihood that a borrower will default on a loan or a credit obligation. Although it is not really known what components make up a FICO score, it is generally accepted that the following percentages listed in question #4 (above) are used to calculate the score.

While it is possible to take on the task of repairing credit on your own, it is not advisable. The credit repair consultants at RXMyCredit are experienced and knowledgeable in the field of credit restoration and can be substantially more effective than an individual who endeavors to repair their credit on their own.

Repossessions, late judgments, charge-offs, bankruptcies, tax liens, and inaccurate information

Technically, your credit score can change at any time, as any of the following can trigger a credit score change:
1. Missing or being late on a Payment
2. Inaccurate entries
3. Defaulting on a Loan or Charging Off
4. Bankruptcy and/or foreclosure
5. Judgments
6. Applying for a New Loan or Credit Card
7. Changes to your Available Credit lines/ratios

According to Transunion, you have three different credit reports from TransUnion, Equifax and Experian and three unique credit scores. Because each agency collects data independently, your credit scores can vary significantly based on the data in your credit reports. In fact, the average person’s credit score varies as much as 40 points between the three credit reporting agencies.