Best Financial Advisors in Huntington Beach, CA

Not at all! This is completely false. Debit cards are just like writing checks from your bank account. They do not get reported to the credit reporting agencies unless you somehow overdraft them, and then only negative credit is reported.

In most cases, No! Closing revolving lines of credit typically does the opposite. When you close revolving credit lines, you are reducing the available credit percentage from your profile. Revolving credit pay history, average age of revolving credit, and utilization percentages are responsible for 30% or more of your credit scores.

There are currently 28 versions of the FICO score. There are 10 for Experian, and 9 each for Equifax and Transunion. Each version uses all of the information contained on that bureau, but weighs the items differently depending on the purpose of the inquiry. A mortgage FICO score will differ from an automobile FICO, and both will differ from a credit card or personal loan FICO. Be aware that most online credit monitoring sites do not provide actual FICO scores, but simulations which are often far from accurate because of the many variables between purposes.

Sadly, paying off collections or charged off items may actually harm your credit scores. I suggest speaking for free with one of our credit repair specialists who can explain some options, and when/if it is a good idea to pay one or more of these items. Ultimately, negative items do not fall off because you paid them.

You are absolutely correct to be cautious of anyone you are sharing sensitive information with. We are registered and regulated by The Department of Justice, Office of The Attorney General. We can also be located on the website of The California Secretary of State website registry. This is also not enough to base your information on. You should also do extensive search on the internet via Google etc. for reviews and evaluations of any company you are considering in an effort to satisfy your concerns.