ERA Credit Services

Category: Credit Report

Boost Your Credit Score

Boost Your Credit Score

Boost Your Credit Score
by Adding Positive Accounts

Most people don’t realize that there are many ways to boost your credit score.
Removing negative accounts from your credit report will increase your credit score.
And, we can help you with the best credit repair service in the country.

But you also want to ADD AS MANY POSITIVE ACCOUNTS to your 3 credit reports as possible.
The more creditors you have reporting a “paid as agreed” status
to Experian, Equifax, and Transunion each month, the more your credit score will rise.

Choose From a Wide Variety of Ways to
Add Positive Accounts to Your Credit Reports

Credit Builder Loans 

These companies offer a way for you to take out a small loan and pay it back. The money accrues in a savings account that you get back at the end of the term. The company keeps a small fee at the end of that term. This is a very affordable way to start building your credit score.

Self Credit Builder

Self Credit Builder

Build credit history & save money. No credit? Need to build credit?
1- Apply for a Credit Builder account. 2- Pay off your Credit Builder account in the specified time period (12 to 24 months). Your money is deposited into a CD. 3- Each monthly payment builds credit history and adds to your savings 4- Once you’ve paid off your Credit Builder Account, your CD unlocks and the money is yours.

Credit Strong

Credit Strong

Build Credit Even If You Don’t Have a Credit Card. Reports to all 3 credit bureaus.
1- Open an Account

2- Make On-Time Payments

3- Track Your Progress

4- Unlock Your Savings

Get Credit for Your Monthly Rent Payments

Right now your rent payment on your home, condo or apartment doesn’t give you credit on your credit reports. Change that!

Credit My Rent

Credit My Rent

Build credit with payments you already make. Right now your rent payment on your home, condo or apartment doesn’t give you credit on your credit reports. Change that! Get up to 2 years of past rent payments, and all payments in the future, placed onto your Transunion credit report.

Credit Cards are an Important Tool for Building Credit

Choose either a Secured or Unsecured credit card for people with lower credit scores. Or, if you have an excellent credit score, choose from some of the best rewards cards available.

First Progress Secured Credit Card

First Progress Secured Credit Card

If you’ve been turned down for a credit card due to credit score, open a secured credit card account. You put a small amount (minimum $200) on account with Synovus Bank and get a credit card with the same limit. Use your new credit card for items that you need every month like gas and groceries. Then pay the balance off each month. Your on-time payments get reported to each of the 3 major credit bureaus.

Authorized User Tradelines to Raise Your Credit Score

By getting placed as an “Authorized User” on a credit card account with a long history of low utilization and on-time payments, it can increase your credit score significantly. If you need to boost your score fast to qualify for a purchase, consider an authorized user tradeline.

authorized user tradelines

Credit Pro Tradelines

Credit Pro has been boosting credit scores with authorized user tradelines
longer than any other company around! Credit Pro will boost your FICO® score by adding tradelines with a perfect payment history to your credit.
Receive a 10% discount off Credit Pro’s already low prices

Proposed Overhaul of Credit Reporting Agencies

At the very least someone is paying attention to the practices of credit reporting agencies. Maxine Waters, a member of the U.S. House of Representatives from the 43rd Congressional District (South LA County, CA), has proposed sweeping changes to the way the big 3 credit reporting agencies (Experian, Equifax, Transunion) handle consumer information provided by creditors.

credit reporting agencies

Proposed Changes under the Fair Credit Reporting Improvement Act of 2014

The Fair Credit Reporting Improvement Act of 2014 proposes the following changes which would increase millions of consumer credit scores immediately:

  1. Currently creditors have the legal right to report a derogatory credit item on consumer credit report for 7 years, or 10 years in the case of a bankruptcy. The new bill, if passed, would reduce these time frames to 4 and 7 years respectively.
  2. Paid or settled delinquent debt remains on a credit report as a derogatory account. The bill would eliminate this although it is unclear as to whether the item would be deleted, upgraded to a ‘Paid as Agreed’ status, or other.
  3. When a consumer’s account has late payments their credit report reflects those late payments for the previously mentioned 7 year period. The bill would allow for a consumer to make a certain amount of on-time payments (perhaps 9 consecutive months) and have the previous late payments dropped from the report.
  4. Currently when a consumer disputes an item on their credit report that dispute is reflected on the report preventing them from closing a home loan in some cases. The bill would eliminate reporting of disputes unless the dispute by the consumer is deemed frivolous. Of course, what is deemed frivolous is controlled by the credit bureaus so this may or may not have much positive impact.
  5. The bill would eliminate the credit bureaus from offering a ‘free trial’ program to obtain their credit score and then switching consumers to a ‘paid program’.
  6. Currently consumers have the right to one free credit report per year from each of the 3 credit bureaus but they still have to pay for their scores. The bill would force the bureaus to also provide free credit scores once per year.
  7. Approximately half of all employers run credit checks on applicants. This bill would drastically reduce the number of employers able to do so by categorizing those than can. How this will be done is still unclear.

But Are Positive Changes to the Credit Reporting Agencies Really Coming?

This may be a welcomed bit of news for those in the know of current reporting practices but it isn’t cause to get excited just yet. Business Week stated that the bill is “unlikely to pass”. Business Insider goes further and states that, “the newest credit reporting act doesn’t have a chance”.