The Oasis Firm - Credit Repair Services and Tax Preparation

Bad Credit Score? These are 10 Signs You Need Credit Repair

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You might not even realize that you can and should try to repair your credit. The truth is, there are many ways in which a bad credit score could be improved with the proper practices and help from the right people. What signs indicate when it’s time for some help?

 

Sign #1: Not getting hired for a job

It’s not just your resume that determines whether or not you’ll get the job. Employers also do credit checks to ensure they’re making a sound investment in their new hires, and if there are any red flags, it could be all over for them. If you’ve been struggling with getting hired due to poor credit history, then check out this article on how to repair your score so when an opportunity comes knocking.

Sign #2: Soaring interest rates

Wouldn’t it be great if you can use your credit cards without having to worry about high-interest rates? High interest rates on your credit card are typically based on how good or bad of a score, which could go even higher because of the poor rating. You might not notice, but there’s an enormous difference between having excellent and terrible scores. Individuals with outstanding ratings may get as low as 8% annual percentage yield (AYP) for their cards, while those struggling will usually receive at least 17%. The lower that is, the more likely they’ll charge with a higher rate when lending money.

Sign #3: Having someone else’s name on your bill

If you’re not in the best financial condition, it’s easy to fall into the trap of using someone else’s name on your bills. That might sound good at first glance, but there are LOTS of negative repercussions: this affects your credit score and can make it difficult for when you need to borrow money later.

Credit scores affect everything from whether or not we qualify for medical care discounts or cell phone plans with family data, so take time today to fix those bad debts by working towards bettering our situation together.

Sign #4: Your credit score is under 670

When your credit score is below 670, you are considered a bad risk by lenders. This usually comes from unpaid debts or late payments on various accounts in your report. Having good credit can have huge impacts and benefits for the rest of your life, like how much money you make, interest rates charged to loans, etc., so it’s essential that if yours falls below this point, then take action right away to fix it before any more damage is done.

Sign #5: Your credit application is denied

One of the most common reasons for your application to be denied is insufficient income. This might not seem like a big deal, but it can be one if you need money and don’t have any because other issues may come up that require quick cash, such as car repairs or medical emergencies.

When you get denied, it means your credit score may need some attention, too, so check out our website to learn how we help people improve their credit.

Sign #6: Closed credit cards after paying them off

When a credit card company sees you as too much risk, they will close your account. This can happen if the bank believes that it’s better to get rid of bad debt than have more people fall into financial trouble because their interest rates are raised, and they cannot pay off debts.

 

Sign #7: No one is willing to cosign your loans

Having to rely on someone else for a loan is an indication you have bad credit. When not even your family cosigns the loan, it means you need to fix up your score ASAP.

 

Sign #8: Your phone is blowing up with calls

Struggling to pay off your debt is no way to live. When it comes time for the creditors and collectors, there are times when you may need a break from them ringing up on your phone every hour of every day. Of course, this can get expensive in paying for more cell phone minutes but not nearly as bad as having too many people trying to collect money they say you owe.

Sign #9: Getting denied when trying to rent a place to live in

Having a bad credit history can make it hard to find the home of your dreams. When landlords see that you have unpaid debts, this will give them an impression that you are likely not reliable and may be late with rental payments. Luckily there is help available for those looking to fix their score fast.

Sign #10: Fear of checking your credit report

When you don’t check your credit report out of fear that it will tell a bad story, nothing happens. Your score will not magically go up if you do not look at the numbers in black and white.

Credit repair can turn your life around! If you have one or more of the signs mentioned above, now is an excellent time to get help from The Oasis Firm. We’re here for any credit issues that may arise, and we’ll be able to fix it up so you can enjoy life again in no time at all.

 

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