There is a widely popular TV Commercial that has a Cow telling you how to boost your credit scores... in my experience it has not helped my clients.
To be fair, I have not seen a before and after with this service, but I have seen numerous clients that have used it and they never have great scores, just a confusing report with "self reported" items adding monthly payments that need to be sorted out from the "real stuff"
With so many automated systems running behind the scenes this is a recipe for trouble since a computer is not smart and only sees more debt.
While this service may help someone with ZERO credit history generate a score to satisfy a landlord, it will not help (much) to fix bad, and it is unlikely to help for mortgage purposes.
"Thin credit" is one of the items mentioned in mortgage guidelines, the mortgage world doesn't trust a score generated from one or two accounts with little to no history.
Ideally you should maintain 3 active pieces of credit, you do not have to carry a balance or be in debt to have good credit, you just need activity.
When in doubt, reach out to a trusted industry expert like myself, it is much easier to answer a question than to fix an OOPS!
Thanks for Listening!
I’d be happy to put my 30+ years of experience to work for you and your clients
Mortgage Loan Originator NMLS# 248937
or my blog: http://activerain.com/blogs/rrauf
Office: (732)908-4868 Cell (732)740-0175
Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 9 Grand Ave, Building 2 Suite A Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com or www.RobertRauf.com for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood 08722 Bayville 08721,