FREQUENTLY ASKED QUESTIONS

We created the Credit Cure as a solution for credit repair for our loved ones. It frustrated us to hear our loved ones’ awful experiences with unworthy credit repair companies.

It bothered us to know that the credit repair companies our loved one was dealing with did not take their results seriously.

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We felt the need to take action on learning how to fix credit ourselves. We knew how credit needed to look for an applicant who is applying for a house. So we took that knowledge and worked on our loved one’s credit repair going through trial and error during the pandemic.

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The founders of The Credit Cure have a cumulative experience in the mortgage, business and personal accounting, and debt settlement industry. We created The Credit Cure to you build and restore your trust in the credit repair industry. After a year of seeing positive results over and over we are proud to open our doors to help you and your loved ones with credit repair.

You’ve come to the right place! Our founders are Licensed Loan Officers and an Accountant that know the in’s and out’s of a mortgage application. We know how the underwriters at banks and mortgage companies judge you based on your credit report. This will save you from being denied in your mortgage application. We are happy to be part of your journey to buy your house! Once your credit is ready, we will gladly refer you to one of our trusted lenders to start your mortgage application.

Your credit scores are a financial tool a lender uses to determine your creditworthiness. 

Your scores determine whether a business wants to lend you money and at what interest rate they’ll charge you. 

The higher your credit scores, the better your interest rate will be. Bad credit scores can cost you paying more than someone who has good credit.

Credit scores influence who has to make a bigger deposit to get utilities and cell phone plans. Believe it or not insurance companies also use your credit scores to set your premium for your auto and homeowners coverage. In the same way landlords also use your credit scores to judge if you are a responsible renter.

There are over 30 formulas to calculate your credit scores, therefore you have more than one credit score. 

These are the five factors that determine your credit scores: 

Payment History 35% 

Payment history is the biggest factor that influences your credit scores. That’s why it is important to make sure all your accounts are paid on time. A late payment can easily drop your scores by a 100 points!

Amount Owed 30%

Your credit utilization ratio is the second most important factor. This ratio is calculated by dividing the total of your credit limit by your balance. Anything over 30% is bringing down your scores.

Length of Credit 15%

The longer your accounts are open, the higher your credit score will be.

Credit Mix 10%

The more kinds of credit accounts you have, the better your scores will be. This shows lenders you can handle different types of debt like credit cards, car loans, student loans, mortgages or other credit products.

New Credit 10%

The number of new accounts and hard inquiries influence your credit scores. Too many new accounts or hard inquiries can be perceived to lenders that you are desperate for money. 

Your credit scores are a financial tool a lender uses to determine your creditworthiness. 

​

Your scores determine whether a business wants to lend you money and at what interest rate they’ll charge you. 

The higher your credit scores, the better your interest rate will be. Bad credit scores can cost you paying more than someone who has good credit.

​

Credit scores influence who has to make a bigger deposit to get utilities and cell phone plans. Believe it or not insurance companies also use your credit scores to set your premium for your auto and homeowners coverage. In the same way landlords also use your credit scores to judge if you are a responsible renter.

​This happens occasionally, either by accident or after a creditor has verified a specific item. We refer this to as a "soft delete." The Fair Credit Reporting Agency (FCRA) has made it much more difficult for creditors to replace items that have been removed. The Credit Cure will re-challenge the item using a more effective technique.