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Credit Terms Defined

Borrowers: Subprime vs. Prime

You may have heard that if your credit score is lower then a 720 you will not qualify for a mortgage. You may have heard that lenders favor scores in the 700s and guarantee great interest rates. When it comes to credit checks, both scenarios are not that simple. 

Mixed Files

How do credit reports get mixed up? How can we fix it?

All Americans must check their credit report yearly for inaccuracies. Inaccuracies are caused by incorrect credit reporting. The cause of inaccurate credit reporting could be due to fraud or human error. Lately the buzz word is “mixed file.” Too many consumers are being held up by mixed files.

Delete, Repair, Update, Correct- What does it mean?

You have heard of removing, deleting, repairing, updating, and correcting information on your credit report.

What is the difference between each?

Credit Terminology

Familiarize yourself with the following credit terminology. We will continue to update it as we discover what jargon consumers need broken down.  Innovative Credit Consultants is excited you are joining us. We look forward to improving your credit awareness and productivity.