Understanding credit scores and reports isn’t easy. Sometimes it’s helpful just to have someone available who can answer questions and help make sense of your credit.
ScoreSense® members get on-demand access to credit specialists who can answer credit questions and help you understand the ins and outs of smart credit decisions. Here’s a look at some of the common reasons you might want to chat with a credit specialist—and how they can help.
You don’t understand the information in your credit report.
Credit reports can be confusing, especially if you don’t have much experience reading and reviewing them. A credit specialist can explain the layout of your credit report and the types of information you can expect to find there, where it comes from, and how it affects your credit scores.
You see incorrect information in your credit report.
Incorrect information in your credit report may mean that a creditor has reported inaccurate or incomplete data to the credit bureaus. It may also mean that someone else has fraudulently opened (or tried to open) credit accounts in your name. Either way, it can be important to dispute the inaccurate information in your credit report because it could be affecting your credit scores. A credit specialist can help you learn how to dispute the information with the credit bureaus to get it corrected.
You are looking to get new credit.
People often check their credit reports and scores when they’re planning to apply for credit, such as a mortgage loan or car loan. Most lenders require a minimum credit score for credit approval. Also, higher credit scores usually result in lower interest rates and better borrowing terms. If you are wanting to learn about what good credit is, a credit specialist can help educate you.
You’re trying to decide which accounts to pay off first.
Working to get out of debt is challenging, especially if you have several balances to pay down. A credit specialist cannot see the specific accounts on your credit report, but they can educate you about the effects debt has on credit and provide guidance on best practices to pay off debt. Based on information you provide, they can talk you through various scenarios, and help you make informed choices about how to prioritize credit and debt payoff decisions.
You aren’t sure what factors are affecting your credit scores.
Your credit scores are the result of six important factors. They include payment history, outstanding debt, derogatory marks, credit age, credit mix, and credit inquiries. Each factor has a varying degree of influence on your credit scores. ScoreSense credit specialists can explain the various factors and the degree to which they make up your scores.
In addition to these five examples, credit specialists can answer a wide variety of credit questions. In addition to getting easy access to credit specialists, as a ScoreSense member, you can also stay updated on your credit information by tracking all three of your credit reports and scores and staying informed about any potential changes or errors. If you’re not a member, try a 7-day trial now.