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Credit Repair: Frequently Asked Questions
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How is my score calculated?
Your credit score is calculated based on the following categories:
Payment History
Amounts Owed
Length of Credit History
Open Accounts
Types of Credit Used
What is a credit inquiry?
A credit inquiry is when a business requests a copy of your credit report. When you give permission to a lender to make a credit inquiry, it can damage your credit score. But if you pull your own credit report, it does not affect your score.
How much does CIC charge for their services? Are there any hidden fees?
CIC services are $99 down and $59 per month. You pick the day of the month when your account will be charged.
What if I just have a few negative items on my credit report? Do I really need credit improvement?
Yes. Why have negative, possibly inaccurate items on your credit score when CIC can help you have a better rating? You could be paying more than necessary in interests rates because of your lower credit score.
If I file for bankruptcy, how will it affect my credit score?
Bankruptcy hurts your credit score. Filing to bankruptcy is the most damaging thing you can do to your credit file. You will see at least a 140 point decrease in your score if you file for bankruptcy.
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