Advantage Plus Credit, Inc.
Advantage Plus Credit, Inc. - Phoenix, Arizona
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Where does my credit report come from?
Your credit report is generated by the credit bureaus with information provided by Credit grantors, such as Banks, Credit Card Companies, Mortgage Companies and Department Stores. Public Record information is also collected such as Bankruptcy, Tax Liens, and Judgments.  Collection agency also report information to the Credit Bureaus

What are the statues of limitation under the FCRA (Fair Credit Reporting Act)?

  • Bankruptcy Chapter 7 will stay on the file 10 years from date of filing

  • Accounts marked included in BK 7 will stay on the file for 7 years from date of last activity

  • Bankruptcy Chapter 13 will stay on the file 7 years from the date of filing

  • Judgments and civil suits will stay on the file 7 years from date of filing

  • Paid Tax Liens will stay on the file 7 years from date of filing

  • Unpaid Tax Liens and unpaid Student Loans will stay on file indefinitely

  • Collections and charge off accounts will stay on the file for 7 years

What is a credit score?
A credit score represents your credit history and the ability to repay credit extended to you. Score ranges from 350-850.  (850 being the best score)

How do I establish credit and a credit score?
First you have to apply for credit and be granted credit.  Start with a small credit card such as a gas card, department store credit card or a secured bankcard.

Use your new card wisely, and make your payments on time. Once these creditors report your account to the Credit Bureaus you have established credit, then just wait a few months normally (3-6) and then you should get a score.

Why do I have a score on one or two bureaus but not all three?
Credit grantor has a choice as to what bureau they report to. They are not required to report to all three bureaus as they report the information voluntarily. Some creditors do not report at all. That is why sometime you will score with one or two bureaus and not all three.  Most credit card companies report to all three.

How can I improve my credit and credit score?

  • Pay your bills on time.

  • Pay off your debt, instead of transferring it out to other credit cards

  • Keep credit cards balances below 33% of credit limit

  • Do not close your credit card accounts

  • Do not apply or open new credit accounts you do not need.

  • Check your report at least once a year for accuracy

Can an account or a late payment be removed from the Credit Report? If so how?
Yes.  If an account is being reported in error or incorrectly, a letter from the creditor on their letterhead is required giving a very specific reason for correction or deletion.

   
   
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Advantage Plus Credit Reporting, Inc.
7998 West Thunderbird Road, Suite #109
Peoria, AZ 85381
(623) 889-8999 / (623) 889-8998 fax
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