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Best Credit Repair Company Services to Use in 2022 [Review]

Let’s face it. Your credit score affects your life in so many ways. You can’t apply for a loan, finance a property, rent a home or do almost anything with a low or poor credit score. A low credit score eats into your finances, where you will be forced to pay thousands of dollars on the mortgage, car insurance, and loan repayment. On the other hand, a bad credit score can even prevent you from securing formal employment.

The good news is that there are many ways you can rectify this situation and restore your credit score and trust. With the help of a reputable credit repair company, you can improve your credit score by topping up the deficit by a hundred points.

All credit repair agencies claim that they can successfully help you repair your bad credit score and boost it with hundreds of points. However, not all of these agencies strive to walk the talk. While some are legit and can help you repair your bad credit ratings at a competitive fee, others don’t live up to that expectation.

So which one is the best credit repair services company and which one should you go for? We researched, tested, and approved the following online credit score repair services, and below are our findings that informed our rankings.

What Is A Credit Repair Company?

If you are someone who is having problems with your credit history score and wish to correct the same, you might be in need of service by professionals who have gathered years of experience working with customers like you to fix their credit report and help with credit monitoring to avoid problems in the future.

A credit repair agency or company is an organization that helps people out with their credit problems by offering different service packages put together to provide solutions to fix credit problems. They collect the data from a reliable credit bureau and use the information to put together the service packages.

There are many credit repair agencies out there and identifying a credit repair agency that works for you can be quite difficult.

You need to take into consideration a lot of things including which credit bureau is being used to source information regarding your history of credit. Reputable and reliable credit repair agencies will stick to any of the three credit bureaus to collect data regarding your history of credit and will provide top-notch services within reasonable periods of time.

What is Credit Repair Organizations Act?

The Credit Repair Organizations Act is an initiative of the Better Business Bureau organization to protect consumers from scams that credit agencies sometimes carry out. The Credit Repair Organizations Act is in place to protect customers and make sure that the credit repair agency that they have selected to fix their credit problems is legitimate and does not scam them with false promises that they cannot keep.

This ad is meant to help you select a credit repair agency that can be trusted with your money. According to this act, those companies that do not abide by the rules set forward by the parent organization are not allowed to practice and their advertisements are regulated.

What is Better Business Bureau?

Better Business Bureau is an organization that provides credit repair agencies with approval to indicate that their services are legitimate. If you are looking for a credit repair agency to solve your credit issues, it is always good to watch out for the symbol or seal that indicates that the organization has gained the approval of the Better Business Bureau.

It will help you sort out and select from the best credit repair companies and it also helps prevent credit repair agencies from scamming you with false promises and unrealistic deadlines. This is one of the most important criteria that you must apply before selecting a company that is right for you.

What Is A Credit Report? What Does It Contain?

As you must have known by now, a credit report is one of the most crucial facets of repairing your credit. In short, a credit report is the summary of hoe you have been handling your credit account and how you have been making the transactions with your credit account.

A credit report is important because it allows potential creditors or lenders to understand whether to offer you credit or not – and on what terms you should be offered a credit.

Credit reports are usually collected from three credit bureaus: TransUnion, Equifax, and Equifax.

Here is what a detailed credit report usually contains:

Information Regarding Identification

This section of the credit report includes information regarding the potential borrower, i.e., you. This part of the credit report includes your name, SSN, date of birth, and other crucial personal information.

The main purpose of this part of the credit report is to help the creditor understand who you are and get to know you better.

Credit account information

This information is reported to Equifax by your lenders and creditors and includes the types of accounts (for example, a credit card, mortgage, student loan, or vehicle loan), the date those accounts were opened, your credit limit or loan amount, account balances, and your payment history. It may not contain all your credit accounts for several reasons, such as closed accounts that have dropped off your report after a certain period of time, or accounts not reported to Equifax by lenders.

Credit account information, as the name suggests, is the information reported to the specific credit bureau (issuing your credit report) by your lenders and creditors. For example, the information in this part of the credit reports includes the type of credit account you own such as credit card, loan, mortgage, etc. Other pieces of information included are the loan amount, balance, history, etc.

Inquiry information

The inquiry information is the type of information included in the credit report, which is broadly of two types: soft and hard.

The soft inquiries are those that are a result of the individual checking his own credit report. These inquiries do not have any impact on the score of your credit – positive or negative.

Hard inquiries, on the other hand, are those that are reviewed by a credit repair company or a loan servicer. These inquiries remain on the report and may impart a negative impact on the score.

Bankruptcies

A typical Equifax credit report includes bankruptcies. These are more or less public records and related details associated with bankruptcies such as the filing date and the type of bankruptcy.

Collections accounts

Collections accounts is that part of the report that includes past-due accounts. These accounts are generally turned over by the collection agencies and include information such as accounts with doctors, retailers, companies such as cable providers or network providers, etc.

What is Credit Monitoring?

Credit Monitoring is monitoring your credit in order to understand the transactions, usual or unusual, made from any or all of your credit accounts. Credit monitoring helps you understand the errors in your history and fix them to repair your score.

Following are the benefits of credit monitoring:

  • Credit monitoring helps you protect yourself from theft such as identity theft and misuse of your credit accounts.
  • Credit monitoring can also help in understanding the usual and unusual transactions made through your credit account.
  • It can help you control your finances better and maintain a good credit score throughout.
  • Credit monitoring also allows monitoring credit inquiries that are made on your behalf.

Top Credit Repair Services And Companies To Work With In 2022

After testing and analyzing several credit repair services, we found the best options available regarding customer experience, terms of services, and fees. So assuming that you have an average income with an equally average credit score seeking to boost it, we hope this list of our best credit repair services will help you make the right choice when looking to improve your credit score. Our list of 14 best credit repair services includes:

Credit Saint Credit Saint offers three credit repair packages and valued results.
Credit Sesame Credit Sesame is one of the best credit repair companies with affordable options.
CreditRepair.com CreditRepair.com offers affordable credit repair packages to those looking to repair their credit.
Credit Karma Credit Karma is an affordable solution to repairing credit and increasing your chances of acceptance from creditors.
CuraDebt CuraDebt is one of the most reputed and longest-standing credit repair companies.
Credit Monkey Credit Monkey has an outstanding reputation and affordable packages to help repair your credit.
FreeScore360 Providing flattering perks such as protection from identity theft, FreeScore360 makes for one of the best companies to repair your credit.
The Credit People The Credit People offers accurate analysis and reports sourced from the major bureaus.
The Credit Watcher The Credit Watcher literally watches over your credit in order to mark errors and get them corrected from the bureaus.
Sky Blue Credit Sky Blue Credit offers a 90-day money back guarantee on its services making it a reliable credit repair company.
Leap Credit Leap Credit is an easy-to-setup credit repair company with affordable credit repair packages.
Lexington Law Lexington Law works its best to include the fair credit reporting act into your documentation.
MyFICO MyFICO is one of the best credit repair companies with three credit repair packages for your convenience.
TransUnion TransUnion is a credit bureau and a credit repair company that works to repair your credit.

That said, let’s dive into the top credit score repairing companies that have carved a name for themselves and which you can run to for genuine and legitimate help.

Credit Saint

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Company Overview
Category Credit Repair Companies
BBB Rating A
Setup Fee/Initial Charges $99.99
Monthly Fees Starts from $79.00
Money Back Guarantee 90-day money back guarantee
Terms of Consultation Free Consultation

Credit Saint helps restore your credit score by expertly challenging any inaccuracies in your credit data. One good thing about this company is that it offers an upfront free consultation to see how it works and the many ways they can help you. It’s also one of the few credit repair companies that offer a 90-day money-back guarantee. This ensures that you get a full refund if you were not satisfied with the company’s services, how they conduct business, or the outcome of the credit ratings.

Additionally, Credit Saint offers a unique private dashboard for each of its online customers. It has informative and productive materials and provides users with a great online customer experience. Credit Saint not only provides fast, easy to access, and effective services that help you restore your bad credit score, but it also offers multiple free services such as free credit analysis and evaluation.

Sky Blue Credit

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Company Overview
Category Credit Repair Companies
BBB Rating A+
Setup Fee/Initial Charges $79.00
Monthly Fees $79.00
Money Back Guarantee 90-day money back guarantee
Terms of Consultation Free Consultation

Sky Blue Credit offers credit repair services at $79 per month, complete with a six-day free trial. The purchase also comes with a 90-day money-back guarantee, which is not common with other credit repair companies.

Sky Blue Credit is one of the oldest credit repair service providers, having been in the business since 1989. Another good thing about Sky Blue Credit is that it can identify and evaluate credit issues that other companies tend to overlook, guaranteeing you will receive a better score improvement than if you worked with similar service providers.

Sky Blue Credit offers professional analysis, timely dispute resolution (a minimum of 15 items every 35 days), and custom disputes tailored to your circumstances. The company conducts state law research for every debt collection issue, among other perks. Sky Blue Credit is one of our top-ranked credit repair companies on this list with a meticulous approach to credit challenges and actionable improvements in credit score.

Lexington Law

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Company Overview
Category Credit Repair Companies
BBB Rating C
Setup Fee/Initial Charges Starts from $89.90
Monthly Fees Starts from $89.95
Money Back Guarantee 0-day money back guarantee
Terms of Consultation Free Consultation

Lexington Law offers effective credit repair services online at LexingtonLaw.com. As the name suggests, the company’s credit repair processes are backed by a professional law firm. However, good credit repair doesn’t happen overnight and requires time, effort, and legal input. That’s what makes Lexington Law stand out by offering this expertise to enable you to repair your credit score.

To achieve this, the credit repair company begins by researching and analyzing your credit report. The company then examines and reviews your credit report and decides which negative items falsely affect your credit score. From there, the company will challenge and dispute each item, pushing the bureaus and your creditors to review each negative item and confirm if they are accurate and fair. If they cannot verify this information, they will need to remove them from your records and score legally.

Finally, Lexington Law takes over the management and monitoring of your credit score over a specific period, addressing and handling any new issues as they come up on your report.

Having been in the business since 2004, Lexington Law is one of the most professional and experienced credit repair websites. Since then, the company has handled more than 70 million credit repair cases and removed them from customers’ credit reports. With almost two decades of offering credit score repair for customers, Lexington Law remains one of the best options available.

CreditRepair.com

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Company Overview
Category Credit Repair Companies
BBB Rating D
Setup Fee/Initial Charges Starts from $69.95
Monthly Fees Monthly fee starts from $69.95
Money Back Guarantee N/A
Terms of Consultation Free Consultation

CreditRepair.com is a credit repair service that offers several free incentives that other companies offering similar services don’t. These include a credit score and summary, a credit improvement plan, and a negative item review – all provided free of charge.

CreditRepair.com works in the same way other top-ranking service providers on this list do. The company begins by analyzing your credit report to identify any inaccurate entries, then challenges the lenders and bureaus to review those entries.

TransUnion

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Company Overview
Category Credit Repair Companies
BBB Rating A+
Setup Fee/Initial Charges $0.00
Monthly Fees Monthly fee starts from $24.95
Money Back Guarantee Varies
Terms of Consultation Free Consultation

TransUnion is one of three leading credit repair services in the United States. The others are Experian and Equifax. TransUnion focuses primarily on credit repair and credit protection services. The company can help you improve your credit score through tracking as well as through subscription services.

Credit Sesame

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Company Overview
Category Credit Repair Companies
BBB Rating A+
Setup Fee/Initial Charges $0.00
Monthly Fees Monthly fee starts from $9.95. Also includes free services.
Refund Guarantee N/A
Terms of Consultation Free

Credit Sesame has an effective mobile app that allows you to access and leverage your credit score. The Credit Sesame mobile app is available for Android and iOS users, making it easy and flexible to manage and repair your credit score any time anywhere.

Credit Karma

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Company Overview
Category Credit Repair Company
BBB Rating A-
Setup Fee/Initial Charges $0.00
Monthly Fee Free services
Refund Guarantee NA
Terms of Consultation Free

Credit Karma is a well-known credit repair service that offers a wide range of credit repair services and similar products. The company has a free mobile app to download and join over 100 million users of credit Karma for financial growth.

The Credit Watcher

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Company Overview
Category Credit Repair Company
BBB Rating F
Setup Fee/Initial Charges $0.00
Monthly Fee Monthly fee starts from $39.90
Refund Guarantee NA
Terms of Consultation Free

The Credit Watcher gives you instant access to your three credit scores from the three different top bureaus. You also receive instant, safe, and verified online delivery of your three credit reports upon registration. From there, you’ll be presented with daily credit scores and credit reports.

Credit Monkey

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Company Overview
Category Credit Repair Company
BBB Rating B
Setup Fee/Initial Charges $0.00
Monthly Fee Monthly fee starts from $99.00
Refund Guarantee 90-day money back guarantee
Terms of Consultation Free

Credit Monkey prices its services between $99 to $499 per month. Credit Monkey is available in about 50 states in the United States and is reputable for its exceptional services to improve the overall credit score of its members through legal removal of erroneous entries.

MyFICO

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Company Overview
Category Credit Repair Company
BBB Rating A+
Setup Fee/Initial Charges $0.00
Monthly Fee Monthly fee starts from $19.95
Refund Guarantee NA
Terms of Consultation Free Consultation

As an official branch of FICO, an analytical company that helps consumers track their credit history using data from three notable bureaus. MyFICO offers two different subscription services going for $29.95 and $39.95 per month, respectively. Whether you subscribe to advanced or premier services, you’ll be able to monitor your credit score from time to time and check for any erroneous entries.

CuraDebt

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Company Overview
Category Credit Repair Company
BBB Rating A+
Setup Fee/Initial Charges $0.00
Monthly Fee No monthly fees
Refund Guarantee Free
Terms of Consultation Payment on settlement

CuraDebt specializes in providing debt relief services in the United States and has been in operation since 2000. Since then, the company has offered debt solutions and relief for credit cards, tax debt, medical bills, and similar unsecured debts.

FreeScore360

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Company Overview
Category Credit Repair Companies
BBB Rating A
Setup Fee/Initial Charges $0.00
Monthly Fee $29.95
Refund Guarantee NA
Terms of Consultation Free Consultation

With a monthly subscription fee of 29.95 per month, a 7-day trial, FreeScore360 provides you with credit scores from three major bureaus. After the one-week trial, you’ll be required to pay the monthly subscription fee to access credit monitoring, tracking, and reporting services.

The Credit People

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Company Overview
Category Credit Repair Companies
BBB Rating C+
Setup Fee/Initial Charges $19.00
Monthly Fee Starts from $79/month
Refund Guarantee 60-day money back guarantee
Terms of Consultation Free

The Credit People reports that customers who use their program will boost their credit score by 53 to 187 points. The company also records strong reviews online from major review websites, including Consumer Affairs.

Leap Credit

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Company Overview
Category Credit Repair Companies
BBB Rating B
Setup Fee/Initial Charges $0.00
Monthly Fee Monthly fee starts from $75.00
Refund Guarantee NA
Terms of Consultation Free

Last but not least, Leap Credit is the only credit repair service that offers credit solutions to people with various credit levels to access financial solutions as quickly as possible. Leap Credit offers easy application procedures, instant approval, and other benefits.

How To Choose The Best Credit Repair Company For Yourself?

Although this article contains a detailed description of the best credit repair companies, it is obvious that you would only choose one credit repair company that you think fits right with you.

The question that rises, in this case, is, how do you know which credit reporting agencies fit ‘just’ right with you? Here are a few metrics you should factor in when making your decision on which is the best credit repair company to fix your credit.

Free Credit Consultation

When you are selecting top credit repair companies from the credit repair industry to help you out with your needs, make sure that they offer free credit consultation. A free consultation to get an idea about your credit status is very important. Most legitimate credit repair companies offer free credit consultation and during this free consultation, they work with you to identify your needs and put together a feasible plan of action. During your free consultation, feel free to ask questions that will determine whether you have narrowed down reputable credit repair companies for your needs. In fact, the main reason many credit repair companies offer free consultation is to get to know you better.

Source of Collection of Data

Top credit repair companies only use one of the three major credit bureaus to derive the data that they need to put together your report. You can identify legitimate credit repair companies from others in the credit repair industry depending on their source of data collection as the legit ones only use any of the three major credit bureaus.

Because there are many credit repair companies on the market, it is not easy to identify which of them are reputable credit repair companies. Using the factor of whether they associate with any of the three major credit bureaus can be a good way to understand whether the company that you have chosen is legit.

Availability of a Money Back Guarantee

Good credit repair companies are very confident about their services as they know that they do not offer any false marketing to sell themselves stronger than they are. Make sure that the credit repair companies offer a money back guarantee so that you can be reassured that you are associating with legitimate credit repair companies that will deliver results. This is a good way to identify top credit repair companies because the market is highly competitive and there are many credit repair companies for you to choose from. Most of the reputable credit repair companies give you a full refund within different times.

Positive Customer Reviews

You should always take into consideration what other customers have to say about the company so that you know that you are with the right credit repair company to provide you the services that you need right now.

A legitimate credit repair company will not be afraid to handle genuine customer reviews and you will see that most of them are positive. Make sure that you take into consideration all the factors that you are worried about.

This will help you narrow it down from many credit repair companies to the top credit repair companies that will be suitable for you. Always sort them according to genuine customer ratings and reviews.

Accuracy Of Credit Report and Credit Score Analysis

Credit repair companies offer credit score analysis as part of their services. Your credit reports are not unfamiliar to you. It is because you have been through your credit reports and know that you have a problem that you have decided to approach the credit repair industry for help. Make sure that the credit score analysis has been conducted properly and that the credit reports you receive from these companies are accurate.

You have a rough idea of what you can expect your credit reports to indicate. If they do not tally with your expectations or are far off, perhaps the credit score analysis was not accurate. Good credit repair companies always stick to precise and accurate methods of generating reports.

Full-Time Credit Monitoring

Before selecting from the wide options of credit score repair companies, you need to have a solid understanding of how credit repair companies work. Reputable credit repair services include full-time credit monitoring. Credit monitoring needs to happen all the time so that you can work towards actually fixing your score and taking the necessary action. Full-time credit monitoring is one of the legitimate credit repair services offered by top companies in the credit repair industry. Make sure that the organization that you select offers full-time credit monitoring as part of their services. This will again help you narrow your list down further and make it easy for you to make the right choice regarding the company for you.

Perks Such As Free Credit Reports

Credit repair companies work to solve your credit problems and offer plenty of additional features to let them stand out from their competitors. You can take advantage of the highly competitive credit repair industry when you are on the hunt for reputable credit repair services. Some of the perks generally offered by legitimate credit repair services include free credit score analysis, free credit reports, and identity theft protection. Of course, the same company will not offer you all of these benefits at once. So you can choose the perk that you need the most and decide whether protection from identity theft is what you are after or you want a free credit score analysis to begin with. The Fair Credit Reporting Act is in place to prevent these companies from taking advantage of you and providing you with false information.

Affordable Monthly Fees

You are here to fix your credit history and score. You need to be very careful to understand how much the credit repair companies charge you for their services on a monthly basis or else the whole process becomes redundant. Most credit repair companies charge an affordable monthly fee because they understand what you are going through. The fee that the credit repair companies charge depends on the features that they provide such as three credit repair packages, credit remodel package options, and other options for credit repair packages. Credit repair companies worth more will charge you less for availing their reputable credit repair service options.

Additional Benefits In Premium Packages

If you are opting for premium packages, make sure that the credit repair options available to you are plenty and you have a good deal of additional benefits to avail from the package. Most credit repair companies have options of premium packages.

If you have decided to invest quite a bit into the credit repair industry and browse through premium credit repair options, make sure that they stand out from other credit repair services in all the ways possible.

The right credit repair company for you will have multiple premium options for you to choose from and will offer many benefits that play to your advantage. These might include free credit score analysis, free credit reports, identity theft protection, and more. Identity theft protection is one of the premium options offered by major credit reporting agencies and it is a very good feature to have.

Credit Repair Process

This is without doubt one of the most important things to look forward to when you are selecting the right credit repair company. You are approaching them for a feasible and affordable credit repair process that is entirely legal and can provide you with tangible results.

Most credit repair companies will verify your credit history using proper data collection so that they can put forward reputable credit repair service options for you. The credit repair process is something that you must take seriously and evaluate properly so that you can protect yourself from credit repair scams.

To check whether the credit repair business that you have chosen to repair credit for you is appropriate, pay close attention to the credit repair process that they use. To repair credit, it is always best to choose a company that is reputable and follows the best process to achieve results.

Time Taken To Repair Credit

You need to be very careful when taking into consideration the time taken to repair credit for you. Different companies will state different time periods. You need to understand the credit repair process that they have in place and assess the time that you think it will logically take for the credit repair business to fix your score for you.

To avoid credit repair scams, do not go with any company that offers to repair your credit within weeks or such unbelievable periods of time. You must remember that the credit repair industry is very competitive and the companies tend to promise things that they cannot keep.

A reputable credit repair service offered by the right credit repair company will take time as they have to consult with the three credit bureaus and put together a credit remodel package for you. All of this takes time as the three credit bureaus also need to be consulted efficiently. Be patient and the right company will do the job well.

Better Business Bureau Rating

This is easily one of the best indicators of whether the credit reporting agencies that you are considering are reputable and reliable. Given that there are many credit repair options on the market, narrowing it down to a shortlist seems like a task that is almost impossible. Here is where the Better Business Bureau can help. The Better Business Bureau is an organization that has been set up to protect consumer rights and help them from being scammed.

The Better Business Bureau, also known as the Consumer Financial Protection Bureau, places its stamp of approval on the companies that pass its stringent quality checks. If you have doubts about whether the credit restoration services including credit history check and the credit remodel package offered by major credit bureaus are legitimate, look out for the seal of approval by the BBB.

Major credit bureaus that help you fix your credit history and are trustworthy will have been approved by the Better Business Bureau.

Complaints with the Consumer Financial Protection Bureau

The consumer financial protection bureau is a bureau wherein individuals state complaints about a specific credit repair company. Similar to consumer complaints, the consumer financial protection bureau registers complaints against credit reporting agencies, coming from customers of the said companies.

You must factor this metric into your decision-making since this will help you understand which is the best credit repair service for you. Ideally, any best credit repair service is the one that has a few or almost negligible complaints with CFPB.

Opting for one of those companies with less or zilch complaints can help you safeguard yourself from scams that are much more prevalent in this industry.

What It Takes To Rank Best Credit Repair Companies

All credit repair companies affirm that they use proven and reputable techniques to improve your credit score. However, not all of these companies fulfill their claims. To separate the tares from the wheat, here’s how we ranked the above top companies in our list:

Overall Credit Score Improvement

You enlist the services of a credit repair company because you want to improve your credit score. When comparing credit score companies, we looked at the average number of points they used to improve credit scores. Our best picks can improve your credit score by at least 100 points.

Pricing And Value

Some people can spend thousands of dollars on improving their credit scores. However, not everyone can afford this, and most people opt for lower pricing options. In our ranking, we considered the pricing options versus value-added in each of the above services.

Honesty And Transparency

Some credit repair companies give customers high expectations that they cannot live up to. They can promise to improve your credit score by hundreds of points in a few weeks, and yet only a few companies can live up to that. We selected credit repair companies whose claims were realistic and practical.

Credit Score Estimates

The best credit repair companies can maintain and track the average number of points to improve customers’ credit scores. For example, TheCreditPeople.com estimates its credit score increase at 53 to 187 points. They base their estimates on average increases from past customers.

Monitoring Services

Some credit companies claim they do reliable round-the-clock monitoring. Others use specific techniques to repair clients’ credit scores. If you don’t know anything about credit repair services, you may not know how these companies operate. We selected credit companies with tangible credit repair services instead of just credit monitoring.

Credit Repair Strategies

Most credit repair services work by analyzing credit data in your reports and challenging inaccurate entries. This is a simple job that only requires contacting the three notable credit bureaus. However, the best credit repair companies go beyond merely eliminating mistakes and harmful data from your credit report. They challenge credit bureaus to verify and prove each item on your credit report failure to which they can compel them to do so using legal means.

Customer Satisfaction Refund Policy

It is rare for credit repair companies to guarantee they will improve your credit score. However, the best credit repair companies support their claims with satisfaction and money-back guarantees. For example, Credit Saint offers a 90-day money-back guarantee to clients who may be dissatisfied with their services or results.

UserInterface And Convenience

Some credit repair companies provide a seamless user dashboard that helps you manage and monitor your credit score. Our rankings focused on overall customer service and experience and preferred companies that included better customer experience in their credit repair offerings.

Experience And Reputation

We looked at credit repair services with at least seven years of service. For example, Lexington Law has almost two decades of experience offering credit repair services and improving scores online. We gave special considerations to such companies instead of startups and those less than seven years old.

FAQs About Credit Repair Companies

Most people are not informed about credit repair services. Here are some of the most frequently asked questions about credit repair services, credit scores, and credit reports.

Q: What is credit?

A: Credit is receiving money, goods, or services with a written agreement to pay for it later with extra interest.

Q: What is a credit bureau?

A: This is a private company that tracks every individual’s worthiness as a borrower. They follow total credits used and other factors to determine if you are worthy of lending or borrowing.

Q: Is there a difference between a credit report and a credit score?

A: A credit score is your ratings showing your worthiness as a borrower, while a credit report is a comprehensive list highlighting the items that affect your credit score.

Q: How do you describe a FICO score?

A: Your FICO score is also a three-digit number developed by FICO, a private company that aggregates your credit score across all three bureaus. Most reputable lenders use FICO to assess the extent of your risk.

Q: How do you calculate a FICO score?

A: Your FICO score includes your payment history, which is usually 35%, the amounts you owe about 30%, the duration of credit history (15%), credit mix (10%), and new credit (10%).

Q: How can I get a good credit score?

A: Make timely payments, maintain a low credit balance, and avoid overborrowing.

Q: How do credit repair services work?

A: Credit repair companies work by checking your credit report for any negative entries they remove. They also challenge credit bureaus about the negative items in your account. Legally, leaders and bureaus must prove each item failure to which they must remove it.

Q: What are the contents of my credit report?

A: Account names, identifying details, credit limits, tradelines, inquiries, collections, credit history, public records, records on late payments, and your credit score are the contents of your credit report.

Q: Can a credit score impact my employment prospects?

A: Yes, credit scores affect your chances of getting a job. Employers are legally allowed to use your credit report to determine your eligibility for employment or promotion. The higher the score, the better.

Q: What is the minimum credit score for buying a home?

A: At least a minimum of 670 can help you qualify for homeownership.

Q: What is the required minimum score for buying a car?

A: To qualify for a car loan, your credit score should be at least 550.

Q: What is credit repair?

A: A credit repair entails removing or addressing negative items on the credit report to improve your credit score.

Q: Are credit repair services legitimate?

A: Yes, there are several legitimate and reputable service providers in the credit repair industry, some of whom are highlighted here.

Q: How long does it take to have my credit repaired?

A: It depends on your credit situation but can take anywhere from a few weeks to a few months.

Q: How much do credit repair services cost?

A: The average cost of repairing your credit score can be between $0 to thousands of dollars, depending on the company and your credit situation. Otherwise, a law firm could charge a minimum of $1,000 to repair your credit, while most credit repair services offer pro bono services in exchange for promos and advertisements.

Q: Can I repair my credit by myself?

A: Yes, you need to contact credit bureaus or lenders, ask for your credit report, and request lenders to remove incorrect items.

Q: Can a student loan affect my credit score?

A: Yes, any loan, including student loans, can hurt your credit score. But if you make timely payments, it cannot affect your credit score.

Best Credit Repair Company Services to Use in 2022 Final Thoughts

Millions of Americans have negative items on their credit reports. A bad credit score negatively affects some of the most vital aspects of your life. Not only will it be harder for you to rent or own a home, but even buying insurance or seeking employment will be a challenge.

Having your credit score repaired is the first step to re-organizing your life and your financial future. The best credit repair companies employ proven strategies and tools to improve your credit score in different practical ways. That said, the above are some of the best credit repair companies you should consider using in 2022 and beyond.

RELATED:Best Bad Credit Loans: Top Lending Services to Use (March 2022)

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