Frequently Asked Questions

Credit Scores

What is a 'good' credit score?

The only purpose of your credit score is to communicate to lenders your credit worthiness so that they will lend you money to purchase items that are too expensive to buy with cash. Therefore good can be defined as a credit score that would allow you to qualify with lenders. Typically that credit score is 680 and above.

What is a 'bad' credit score?

Any credit score that is deemed too low to obtain necessary loans that one might need to buy a house, car, get a cell phone, etc.. Credit worthiness is binary - you either have credit good enough to get lending or you don't. Going back to the post above - anything below a 680 is usually too low to get financing options.

How many credit scores are out there?

Your FICO® Score is used in the overwhelming majority of lending decisions. However, all three credit bureaus maintain a profile and credit score based on your credit information.

What is the lowest and highest my credit score can go?

Credit scores typically range from 300 to 850.

What are the three main credit bureaus?

Experian, TransUnion and Equifax are the three main credit reporting bureaus.

Why do we have credit bureaus?

Credit bureaus are companies that collect information on your financial readiness and then relay information to lenders to inform them of your creditworthiness and risk.

What defines a creditor?

Any entity that provides credit or loans money.

Are all credit scores out there the same?

Unfortunately - no. Many free credit scores provided online show consumers their VantageScore®. However, you can get your individual credit reports from each agency on your own. However, to get your FICO® score continuously (every 30 days) and accurately we recommend signing up with MyScoreIQ® here.

Credit Repair

What is Credit Repair?

Credit Repair is the intervention of trained professionals to dispute inaccurate or outdated information that could be negatively impacting your credit score.

How does Credit Repair work?

You have a right to accurate and fair credit reporting. We assist you in ensuring inaccurate items are challenged with both the credit bureaus and creditors.

Can you repair my credit?

Our process is aligned with removing inaccurate or unfair items from your credit report. While no one can lawfully guarantee results, we can guarantee we will do everything legally allowed to ensure your credit is repaired.

Are all Credit Repair companies the same?

Unfortunately our industry is full of the good and bad just like any other industry. Warning signs of unfair/deceptive practices are set up fees, large upfront costs, guaranteeing results, and any time it sounds too good to be true.

Which plan is right for me?

We recommend our Plus plan for all - it comes with every action possible to repair your credit.

How long will it take to repair my credit?

It depends on what you are disputing and the complexity of the case. Our average client is satisfied with results in 6 months.

Does Credit Renew guarantee results?

Ethically speaking, no credit repair company or attorney can guarantee results. Think of a lawyer representing you in a legal battle, or a financial advisor helping to invest your money. While they can pledge to work in your best interest, they canÔÇÖt guarantee results.

Is credit repair something I can do on my own?

It is your right to ensure you have accurate items reflected on your credit report. While you may dispute items on your own, we recommend letting the professionals do it for you.

Services

Does Credit Renew come with MyScoreIQ®?

Unfortunately we cannot get access your FICO 8® Scores without MyScoreIQ®, and due to credit bureaus attacking the credit repair industry we are unable to get access without a third party.

What's the difference between Credit Renew and other firms?

Credit Renew's credit repair process is data driven and backed by proprietary technology designed to streamline the dispute process.

Will I have someone I work with?

All of our customers are assigned a Case Manager, a Dispute Engineer, or a Case Management Team.

What steps are taken when I first sign up for Credit Renew?

We will reach out and make sure we get all your information set up for our client portal so the dispute process can begin.