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Our Goal
Our Goal
We at Max Score Credit in Towson, Maryland aim to get our clients’ credit scores to 700 and greater.
To achieve this goal, we do two things. First, we get negative items off the credit report. Second, we help our clients to strategically add and manage open accounts. We do both things simultaneously to cause a rapid and dramatic increase to the credit score.
We Are Experts in Credit
We Are Experts in Credit
Payment History
Payment History
35% of our credit scores are payment history. Any type of questionable derogatory credit can be disputed and legally removed from your credit report. Our process has been successfully tested by thousands of clients whose credit has improved drastically. We have successfully removed the following items from our customers’ credit reports:
- Late payments
- Collections
- Charge-offs
- Bankruptcy
- Repossessions
- Sentences
- Foreclosures
- Tax liens
- Delinquent Child Support
Payment History is positively impacted when we make on-time payments on open accounts.
Revolving Debt Ratio
Revolving Debt Ratio
30% of our credit scores are revolving debt ratio. Revolving accounts are credit card accounts that come in two types: bank revolving (major credit cards) and retail revolving (not a major credit card). This category compares the credit limit of the account with the credit balance of the account and determines a utilization percentage. Anytime this percentage is above 30% hurts the credit score, while below 30% helps it.
We will help establish new credit accounts (if necessary), and train our clients on the optimum levels to keep their credit card balances. Our recommendation is a credit card balance at 10% or less of the credit limit. Through our monthly meetings, we also encourage and “coach” our clients to consistently maintain low balances on their revolving accounts.
Age of File
Age of File
15% of our credit score calculates our Age of File and Average Age of File. This calculation is done using the “date opened” of open accounts. The longer the Age of File and Average Age of File, the better for the credit score.
Keeping accounts open, especially credit card accounts, over time will develop a long age of file. One account over seven years old, or an average age of all open accounts that is greater than seven years will help this category. We will implement strategies to increase the Age of File/Average Age of File. We will also train our clients on which accounts to close and which to keep open to maintain a
long credit age.
Mix of Credit
Mix of Credit
10% of our credit score is our Mix of Credit. This category is looking at having different types of accounts open. Having a strong mix of credit tells new creditors that you are capable of financially handling different types of credit.
Here are the different types:
- Installment Accounts:
- Mortgages
- Car Loans
- Bank Loans
- Student Loans
- Revolving Accounts:
- Bank Revolving (Major Credit Cards)
- Retail Revolving (Department Store, Gas Cards, all other credit accounts that are not major credit cards)
Our program is designed to help clients achieve a good mix of credit. Having a good mix of installment and revolving accounts, paying the bills on time, and keeping credit card balances low will positively impact this category. We have determined that at a minimum a client should have:
- 2 Major Credit Cards (Bank Revolving Account)
- 1 Department Store Card (Retail Revolving Account)
- 1 Installment Account
If the client does not have this minimum configuration of open accounts, then we will help them establish new positive credit.
Inquiries
Inquiries
Anytime we apply for new credit it counts as an Inquiry. Too many inquiries will hurt the credit score. We will help the client avoid needless inquiries by only applying for those new accounts where the client is highly likely to be approved. We will also provide training and strategies on how to avoid accumulating needless inquiries.
Steps to Success
Steps to Success
Step 1: Develop Strategy
Work personally with a credit repair expert to determine your financial goals, review your credit report in depth, prepare a budget and detail an attack plan to guide you towards success.
Step 2: Implementation of Plan
We use a scientific approach to eliminate inaccurate, non-verifiable and questionable items from your credit report. Each item will have a custom dispute method, and some may take several rounds to be eliminated.
Step 3: Credit Coaching
Your personal credit counselor will show you how to maximize your credit score by properly managing your existing positive credit items, and help you add new installments and revolving lines of credit to your report.
Step 4: Long-Term Success!
You will receive repair and credit coaching during the enrollment of the program to eliminate any new or existing derogatory items from your credit report. In addition, we will support your efforts to maintain excellent credit by making sure our members have access to credit and financial resources available for life. You can contact us for help or advice even after your program has ended.
Which Program is the Best for Me?
Which Program is the Best for Me?
At Max Score Credit, we give you the choice! No matter your credit situation, our two program options are designed to help you take the best possible actions.