Credit Successes

Credit cards can be a useful tool for establishing credit and managing your finances. But if you rely on them too much, that’s how you can end up with a 480 credit score.

Corey B. learned this lesson. Then he learned how to turn things around with our help.

A 480 credit score caused Corey’s mortgage lender to connect him with a HUD-approved, nonprofit credit counselor on the CredEvolv platform. His counselor successfully removed 4 collections and 3 late payments from his credit report. Meanwhile, the budget they created together enabled Corey to reduce his credit utilization from 77% to 4%. The result: a 647 credit score in 8 months, beating his personal goal of 600 and his mortgage lender’s goal of 620!

Why are high credit card balances so bad?

Having a high utilization ratio can hurt your credit scores – even when you make the minimum required payments on time every month. It also makes it increasingly difficult to qualify for more credit. In addition to potentially causing a 480 credit score, high credit card balances can increase your debt-to-income ratio (DTI).

Lenders look at your DTI ratio to gauge how much of your income is already tied up in debt payments. A lower DTI signals to lenders that you have room in your budget to take on more debt without overextending yourself. On the other hand, a higher DTI might raise red flags, suggesting you could struggle to manage additional monthly payments.

In general:

• A DTI below 36% is good and shows you have a manageable debt level.
• A DTI between 36-49% is acceptable but may make it harder to qualify for some loans or the best interest rates.
• A DTI above 50% could limit your borrowing options and indicate a possibility of becoming overwhelmed by debt.

“Should I try to fix my 480 credit score myself?”

The collaboration between our clients and the counselors we connect them with on our platform is incredibly valuable. That’s why we try to steer you away from DIYing your own credit fixes. There are many mistakes you can make when you try to fix your credit yourself.

Flying solo while trying to improve your credit isn’t impossible. But it’s a lot easier when you have experts in your corner. Specifically, the credit counselors on our platform. That’s because:

• They know what they’re doing.
• They have your best interest at heart.
• They’re not trying to keep you in a program for longer than you need to be.
• They’re not looking to make a profit off your hard times.

They’re here to coach you to success and teach you the responsible credit practices that can improve your life. You’ll notice the benefits while you’re enrolled in the program, More importantly, you can enjoy them for years after you’ve achieved the credit score you want and deserve.

Read more credit success stories here.

Credit scores are comprised of three digits. If you can achieve a three-digit increase in a 435 credit score, you’re making amazing progress.

Joseph R. can confirm that firsthand!

Joseph had a 435 credit score and some collection accounts on his credit report when he enrolled in the CredEvolv platform. His personal credit counselor taught him how to create a budget so he could pay down his credit card balances. Meanwhile, the counselor challenged and successfully removed three collections. In 5 months, Joseph’s 435 credit score jumped to 613, exceeding his goal of 600 and closing in on his mortgage lender’s minimum of 620!

“What is credit utilization and how does it impact my 435 credit score?”

Credit utilization means the percentage of your available revolving credit that you’re currently using (this blog shows you how to calculate your utilization ratio). Because it makes up roughly 30% of your credit score, credit utilization is significant to a lender’s decision when you apply for a loan or credit card.

This ratio is how lenders gauge your ability to manage credit responsibly without relying on it excessively. A high credit utilization ratio may result in a rejection of your credit application. A low utilization ratio indicates that you’re less dependent on credit and can make it easier to receive loan approvals.

Try to keep your credit utilization ratio below 30%. Even better, keep it under 10%.

Even if you’re paying your bills on time, your credit score can still take a hit if your utilization is too high. But when you adhere to the aforementioned recommendations, your 435 credit score can jump like Joseph’s did!

“What can and can’t be removed from my credit report?”

One of our Credit Education blogs clarifies this common question. Here’s the answer again: improving your 435 credit score isn’t about deleting your financial past. It’s a matter of legitimately correcting inaccuracies and gaining better borrowing habits.

There are many myths about credit repair. Some companies advertise their ability to get rid of everything negative on your credit report. Unfortunately, that’s not a truthful claim. The fact is, removing valid negative information is against the law.

As outlined in the Fair Credit Reporting Act (FCRA), credit bureaus must maintain only verified, accurate information. If you’ve missed a payment or defaulted on a loan, those details can legally remain on your report for up to seven years. Bankruptcies, depending on what type they are, can stay for up to 10 years.

At CredEvolv, we want to make sure you’re aware that no company or individual can legally erase truthful negative items from your credit report. You should also know that the HUD-approved, nonprofit credit counselors on our platform have the expertise to effectively challenge inaccuracies or outdated details that may be unfairly damaging your 435 credit score.

Our counselor partners are well-versed in identifying erroneous and unfair credit reporting. When they look into these issues, they make sure your credit report contains only the information that should be there. This approach, not DIYing your own credit fixes, gives you the best chance of strengthening your credit profile.

Read more credit success stories here!

A 694 credit score isn’t the worst thing in the world. Far from it, in fact. But if something on your credit report was keeping you from a score in the 700s, would you try to fix it?

Bill S. did – and the result exceeded his expectations!

Bill had a 694 credit score when his real estate agent connected him to the CredEvolv platform. A pesky medical collection was preventing him from reaching his goal of a 740 score. His counselor worked to remove it while Bill continued his responsible credit usage. Six months later, Bill blew past his goal and achieved an 807 credit score, which set him up to receive the best possible interest rate on a mortgage and a smooth underwriting process!

What are collections on a credit report?

We answered this question in a previous success story, but here’s a refresher. A collections account can occur if you fall behind on loan or credit card payments. The lender or creditor may decide to transfer your account to a collection agency or sell it to a debt buyer.

This can happen anytime from the date you begin missing payments or stop paying the full minimum payment to a few months after you become delinquent. Lenders and creditors will typically attempt to reach you about the debt by phone and by mail before sending it to a collection agency. When that happens, it can jeopardize your attempts to achieve a 694 credit score.

What are some ways you can have a 694 credit score or higher?

No matter where you are in your credit journey, doing the right things with your credit can help you overcome poor credit habits and go from a 694 credit score to an 807 credit score like Bill did.

Here are a few of those things:

• Make payments on time, every time. Late payments can significantly damage your credit score and lead to costly fees.
• Pay more than the minimum whenever possible. This helps reduce interest costs and gets you out of debt faster. But if you can’t, see the previous bullet point. Don’t just avoid making the payment. Pay the minimum so you don’t sink your 694 credit score.
• Use credit strategically. Aim to keep your credit utilization below 30% of your total available credit.
• Avoid new debt unless absolutely necessary. Only take on new credit if it serves a purpose and aligns with your financial goals.

Read more credit success stories here, and enroll or connect a client today!

Having lofty goals for yourself is a good thing. Like wanting to add more than 150 points to your 587 credit score.

That’s where CredEvolv client Elizabeth O. set her sights, and she achieved another big win in the process.

Starting with a 587 credit score, Elizabeth came to CredEvolv with a personal goal of reaching 740. She connected with a HUD-approved, nonprofit counselor, who was able to remove 2 collections from her credit report. Together, they also created a budget that helped Elizabeth reduce her 87% credit card utilization to 38%. In 7 months, her 587 credit score climbed to 674, well on the way to her goal and high enough for her home loan application to be ready for underwriting!

What are collections on a credit report?

As we discussed in a previous success story, a collections account can occur if you fall behind on loan or credit card payments. The lender or creditor may decide to transfer your account to a collection agency or sell it to a debt buyer.

This can happen anytime from the date you begin missing payments (or stop paying the full minimum payment) to a period of time after you become delinquent (usually a few months). Typically, lenders and creditors will attempt to reach you by phone and by mail regarding the debt before sending it to a collection agency. 

“What is credit utilization and how does it impact my 587 credit score?”

Credit utilization refers to the percentage of your available revolving credit that you’re currently using. See how to calculate your utilization ratio in this blog.

Credit utilization makes up roughly 30% of your credit score. That’s why it’s so significant to a lender’s decision when you apply for a loan or credit card.

This ratio is how lenders determine whether you can manage credit responsibly without borrowing excessively. High credit utilization may prompt them to pass on granting you more credit. A low utilization ratio shows that you’re less reliant on credit and can improve your chances of receiving loan approvals.

Keeping your credit utilization ratio below 30% is a good idea. Keeping it under 10% is ideal for improving your 587 credit score.

Even if you’re paying your bills on time, your credit score can still take a hit if your utilization is too high. But when you stick to the recommendations above, your 587 credit score can jump like Elizabeth’s did!

Read more credit success stories here!

When you’re trying to boost your 553 credit score, it helps if you have a positive attitude. It also helps to have someone in your corner who knows how to deal with negative accounts on your credit report.

Jennifer M. benefitted from both in her quest to improve her credit and apply for a mortgage.

Jennifer came to CredEvolv determined to increase her 553 credit score. She connected with a HUD-approved, nonprofit counselor, who was able to remove 83% of the negative accounts on her credit report, including 7 collections. Meanwhile, she focused on reducing her credit card utilization to 13% from 24%. The result: a 697 credit score after 4 months and a home loan application ready for underwriting!

“What can and can’t be removed from my credit report?”

One of our Credit Education blogs answers this common question in depth. Here’s a summary: Improving your 553 credit score isn’t about making your financial past go away. It’s about correcting inaccuracies now and having better borrowing habits going forward.

Half-truths about credit repair are pervasive. Some companies claim they can delete every negative entry on your credit report. Unfortunately, that’s not how the system works. In reality, removing valid negative information is against the law.

Per the Fair Credit Reporting Act (FCRA), credit bureaus must maintain only verified, accurate information. If you’ve missed a payment or defaulted on a loan, those blemishes can legally remain on your report for up to seven years. Bankruptcies can stay for up to 10 years, depending on the type.

At CredEvolv, we want to make consumers aware that no company or individual has the legal ability to erase truthful negative items from your credit report. We also want to reiterate that the HUD-approved, nonprofit credit counselors on our platform can step in to challenge inaccuracies or outdated details that may be unfairly damaging your 553 credit score.

Our counselor partners know how to identify reporting errors and unfair practices. When they address these mistakes, they see to it that your credit report contains only the information that belongs there. This gives you the best chance of strengthening your credit profile.

“What is credit utilization and how does it impact my 553 credit score?”

Credit utilization is a term for the percentage of your available revolving credit that you’re currently using (you can learn how to calculate your utilization ratio in this blog). Credit utilization comprises roughly 30% of your credit score, so it’s significant to a lender’s decision to approve you for a loan.

This ratio is how lenders assess whether you can handle credit responsibly without relying too heavily on borrowing. If your credit utilization is too high, they may pass on approving you for more credit. A lower utilization ratio signals that you’re in control of your finances and can make loan approvals more likely.

Generally, you should try to keep your credit utilization ratio below 30%. Even better, strive to keep it under 10%.

Even if you’re making all of your payments on time, your credit score can suffer if your utilization is too high. But when your credit usage is in the sweet spot, your score can improve dramatically like Jennifer’s did!

Read more credit success stories here!

Pushing your credit cards to the limit is a recipe for a 519 credit score. Winston C. found himself in that situation and decided it was time for a change.

Winston enrolled in the CredEvolv platform with a goal to reach 640 from a 519 credit score. He connected with a certified, nonprofit counselor and got started.

Winston’s counselor was able to remove some late payments and collections from his credit report while he paid down his maxed out credit cards to 42% utilization. As a result, he’s currently at 604 and continuing to move forward.

“Should I try to improve my 519 credit score myself?”

The partnership between our clients and the credit counselors we connect them with is truly invaluable. That’s why we strongly advise against taking a do-it-yourself approach to credit repair. Countless pitfalls can derail your efforts to clean up your credit history.

Fixing a 519 credit score isn’t an impossible task, but it’s one that benefits from professional guidance. Specifically, the reputable, expert credit counselors on our platform. Here’s why:

• They have the knowledge and experience to navigate the complexities of credit improvement.
• Their goal is to help you, not keep you stuck in a program longer than necessary.
• They’re dedicated to your success, not making a profit off your challenges.

CredEvolv’s counselor partners are here to equip you with the skills and strategies needed to improve your 519 credit score. This knowledge will help you during the program and, most importantly, long after you’ve reached the credit score you deserve.

What is credit utilization?

Credit utilization refers to the percentage of your available credit that you’re currently using across your revolving credit accounts (check out this blog to learn how to calculate your utilization ratio). Since credit utilization accounts for roughly 30% of your credit score, it’s a key factor in the decision to approve you for a loan.

Lenders want to see that you can handle credit responsibly without relying too heavily on borrowing. A lower utilization ratio signals that you’re in control of your finances. On the other hand, if your credit utilization is too high, lenders may be reluctant to extend more credit. That can also contribute to a 519 credit score or lower.

As a general rule, aim to keep your credit utilization below 30%. For the best results, keep it under 10%.

If your utilization is too high, your credit score can take a hit, even if you’re making on-time payments. But when you bring it down into the optimal range, your 519 credit score can soar like Winston’s did!

Read more credit success stories here!

It’s super encouraging when you can bump up the first number in your 609 credit score a notch or two. CredEvolv client Eric S. can certainly attest to that!

Eric came to the CredEvolv platform with a 609 credit score, just shy of his mortgage lender’s minimum of 620 to qualify for a mortgage. The HUD-approved, nonprofit counselor he connected with went to work and removed a charge-off plus some late auto loan payments from Eric’s credit report. Eric quickly surpassed 620 and left his personal goal of 680 in the dust as well. That inspired him to keep going and cross over into the 700s with a 707 score after 13 months!

What can and can’t be removed from my credit report?

This is a question we’ve answered in one of our Credit Education blogs. It helps to understand which items can legally be removed from your credit report and which must stay. The truth is, improving a 609 credit score isn’t about erasing your financial past. It’s about fixing inaccuracies and making better financial choices moving forward.

Misinformation about credit repair is everywhere. Some companies claim they can remove all negative marks from your credit history. The system doesn’t work that way. In fact, removing valid negative information is against the law.

The Fair Credit Reporting Act (FCRA) mandates that credit bureaus maintain only verified, accurate information. If you’ve missed a payment or defaulted on a loan, that record can legally remain on your report for up to seven years. Bankruptcies, depending on the type, may stay on your file for up to 10 years.

At CredEvolv, we want to be clear: no company or individual has the legal ability to erase truthful negative items from your credit report. However, the certified, nonprofit credit counselors available through our platform can help you challenge inaccuracies or outdated details that may be unfairly causing your 609 credit score.

Our counselor partners are trained to identify reporting errors and unfair practices. By addressing mistakes, they help ensure your credit report reflects only what truly belongs there. That’s how you can have the best chance to strengthen your credit profile.

How long does it take to raise your 609 credit score 100 points?

The average CredEvolv customer sees a 53-point increase in 3 to 5 months. But a 98-point credit score increase in a little over a year shows what’s possible when a consumer and a counselor keep their eyes on the prize over the long haul.

In this case, Eric followed the counselor’s advice on how to manage his credit wisely. Meanwhile, the counselor worked to delete the charge-offs and late payments that were causing Eric’s 609 credit score.

As the saying goes, teamwork makes the dream work! And by “dream,” we mean putting Eric on the verge of a 100-point increase in his 609 credit score.

Read more credit success stories here!

A 477 credit score won’t get you very far. If you can push it into the 600s, doors start to open for you.

That’s exactly what Blanca R. did (with some help from CredEvolv) and that’s exactly what happened for her.

A 477 credit score inspired Blanca to join the CredEvolv platform. She connected with a HUD-approved, nonprofit credit counselor, who successfully removed some late payments from her credit report. Additionally, the budget they created together enabled Blanca to reduce her credit utilization from 90% to 22%. The result: a 135-point jump to a 612 credit score in 5 months! Next stops: her mortgage lender’s goal of 620 and her personal goal of 660!

What can and can’t be removed from my credit report?

As we discussed in one of our Credit Education blogs, it’s important to know what can legally come off your credit report and what must remain. Here’s the truth: Better credit is not about erasing your financial past. It’s about correcting inaccuracies and improving your 477 credit score going forward.

There’s a lot of misinformation out there. Some so-called credit repair companies claim they can remove all derogatory information from your credit report. But this simply isn’t true. In fact, it’s illegal to remove accurate information, even if it’s negative.

Under the Fair Credit Reporting Act (FCRA), credit reporting agencies are required to report accurate, verifiable information. If you missed a payment or defaulted on a loan, for instance, that information can legally stay on your report for up to seven years. Bankruptcies can remain for up to 10 years.

At CredEvolv, we want to set the record straight: no one can legally remove accurate, negative information from your credit report. What the certified, nonprofit counselors on our platform can do, however, is help you dispute any inaccuracies or outdated information that may be causing your 477 credit score unfairly.

Our counselor partners are trained to spot errors and unfair practices on your report. This gives you the best chance of improving your credit by removing anything that doesn’t belong.

What is credit utilization and why does it matter to my 477 credit score?

Credit utilization is the ratio between the credit limits on your revolving credit accounts and the amount of credit you’ve actually used (check out this blog to see how you can calculate your ratio). Because credit utilization makes up about 30% of your credit score, it’s one of the most important factors that lenders consider when deciding whether to loan you money.

They want to see that you can use credit responsibly without being too dependent on borrowing. Lenders will be hesitant to grant you more credit if your credit utilization ratio is too high. A lower ratio shows that you’re managing your money wisely.

In general, try keep your credit utilization ratio below 30% and ideally under 10%.

When your utilization is too high, it can cause your score to drop quickly – even if you pay your bills on time. But when you can get it closer to or into the sweet spot, your 477 credit score can skyrocket like Blanca’s did!

When it comes to debt payments, it’s pretty cut and dry: Late payments are bad and can cause a 518 credit score. On-time payments are good and can pave the way to your financial goals.

Stacey C. came to CredEvolv with some past issues and plenty of future potential. She quickly realized that the former weren’t insurmountable, and the latter could be realized with a little legwork and discipline.

With a 518 credit score, Stacey C. needed help to reach her lender’s minimum score of 620 to qualify for a home loan. We connected her with a HUD-approved, nonprofit credit counselor, who successfully removed 7 late payments from her credit report while helping her create a budget to ensure on-time payments on all her accounts. Ten months later, her score rose to 604, and she continues to work toward becoming mortgage-ready and reaching her personal goal of 640.

Why are on-time payments so important?

Your payment history is the single biggest factor in determining your credit score, accounting for about 35% of it. That’s why making on-time payments is non-negotiable if you want to improve your 518 credit score.

• Set reminders for yourself. Use calendar alerts, apps, or automatic payments to ensure you never miss a due date.
• Adopt the mindset that a little is better than nothing. If you’re unable to pay your full balance, at least make the minimum payment. This protects your credit score and helps you avoid late fees. Missing a payment should not be an option.
• Know your due dates. If multiple payments feel overwhelming, contact your lenders to align due dates closer together.

Consistency is key. Every on-time payment builds a positive credit history. Over time, your effort can significantly lift your 518 credit score.

What can and can’t be removed from my credit report?

As we’ve covered in a previous Credit Education blog, understanding what can and cannot come off your credit report is essential. The reality is that boosting a 518 credit score isn’t about erasing your financial history. It’s about ensuring your report is accurate and making smart decisions to improve your credit moving forward.

Misinformation about credit repair is everywhere. Some companies falsely promise they can eliminate all negative marks from your credit report. That’s simply not the case. In fact, removing accurate, negative information is against the law.

Under the Fair Credit Reporting Act (FCRA), credit bureaus have the obligation to report truthful, verifiable data. For example, if you’ve missed payments or defaulted on a loan, that record can legally remain on your report for up to seven years. Bankruptcies may stay on your file for as long as 10 years.

At CredEvolv, we believe in transparency. You should know that no one has the legal ability to remove valid negative entries from your credit report. However, the certified, nonprofit credit counselors available through our platform can assist in disputing inaccuracies or outdated details that could be unfairly causing your 518 credit score.

Our counselor partners have the expertise to identify errors and questionable reporting practices and help you remove any information that shouldn’t be there. This gives you the best opportunity to strengthen your 518 credit score and make progress toward a higher score goal like Stacey did!

Read more credit success stories here!

What seems simple to one person might be completely baffling to another. Sometimes, when it comes to credit, a little knowledge is all it takes to send a person’s 489 credit score in the right direction.

Austin M. gained some through CredEvolv. Now he’s moving toward achieving his financial goals.

Austin had a 489 credit score and no idea how to use a credit card. The counselor he connected with on our platform helped him open a new credit card account, showed him how to budget for the card, and stressed the importance of making on-time payments. As several collections came off his credit report, Austin’s score rose to 577 in 7 months, closing in on his mortgage lender’s target score of 620 and his personal goal of 680!

Why are on-time payments so important to improving a 489 credit score?

Your payment history is the single biggest factor in determining your credit score, accounting for about 35% of it. That’s why making on-time payments is non-negotiable if you want to improve your 489 credit score.

• Set reminders for yourself. Use calendar alerts, apps, or automatic payments to ensure you never miss a due date.
• Adopt the mindset that a little is better than nothing. If you’re unable to pay your full balance, at least make the minimum payment. This protects your credit score and helps you avoid late fees. Missing a payment should not be an option.
• Know your due dates. If multiple payments feel overwhelming, contact your lenders to align due dates closer together.

Consistency is key. Every on-time payment builds a positive credit history. Over time, your effort can significantly boost your 489 credit score.

What can and can’t be removed from my credit report?

In a previous Credit Education blog, we discussed an important topic: knowing what can and cannot be legally removed from your credit report. The key to improving your 489 credit score isn’t about wiping away your past. It’s about making sure your report is accurate and taking the right steps to build a stronger financial future.

Unfortunately, there’s a lot of misleading information when it comes to credit repair. Some companies make bold claims that they can erase all negative items from your report. That’s simply not true. In reality, it’s illegal to remove legitimate negative entries from your credit history.

The Fair Credit Reporting Act (FCRA) requires credit bureaus to maintain accurate, verifiable information. This means that if you’ve missed payments or defaulted on a loan, those records can remain on your report for up to seven years. For bankruptcies, the timeframe can extend to 10 years.

At CredEvolv, we believe in honesty and transparency. Here’s the truth: no company or individual can lawfully delete valid negative information from your credit report. However, our platform connects you with certified, nonprofit credit counselors who can help you challenge inaccurate or outdated items that may be unfairly causing your 489 credit score.

Our expert counseling partners know how to identify reporting errors and unfair practices. By helping you correct mistakes, they ensure your credit report reflects accurate information. That way, you can make real progress toward something better than a 489 credit score like Austin did!

Read more credit success stories here!

It seems counterintuitive, but if done correctly, adding more debt can actually improve your 609 credit score. The same can happen when negative information comes off your credit report. That, of course, seems more obvious.

Combined with a slow, methodical approach, both of these tactics did the trick for CredEvolv client Laura H.!

Laura came to the CredEvolv platform with 609 credit score. She established two new tradelines while her credit counselor coached her on how to use them. Her counselor also had several negative accounts removed from her credit report. Laura stuck with her success plan for 13 months and voila! She achieved a 699 credit score and her lender submitted her home loan application to underwriting.

What is a tradeline on a credit report?

A tradeline is an industry term for a credit account that a lender reports to a credit bureau. Each credit account has its own tradeline, which includes information about the account, the creditor, and the type of credit, such as the account balance, payment history, and account status.

A person can have multiple tradelines on their credit report, one for each credit account in their name. Credit bureaus use tradelines to calculate a borrower’s credit score and assess their creditworthiness. Adding tradelines can have a positive effect on your 609 credit score by way of improved credit history, payment history, credit utilization, and more.

What can and can’t be removed from my credit report?

In a past Credit Education blog, we explored an essential topic: understanding what can and cannot be legally removed from your credit report. The key to strengthening your 609 credit score isn’t about erasing past financial decisions. It’s about ensuring accuracy and taking meaningful steps to build a healthier credit future.

Unfortunately, misinformation about credit repair is everywhere. Some companies claim they can eliminate all negative marks from your report. That’s simply not how it works. In reality, removing valid negative information is against the law.

Under the Fair Credit Reporting Act (FCRA), credit bureaus are required to report only accurate, verifiable information. If you’ve missed payments or defaulted on a loan, those records may legally stay on your report for up to seven years. Bankruptcies, on the other hand, can remain for as long as 10 years.

At CredEvolv, we believe in full transparency. The fact is, no individual or company has the legal ability to erase legitimate negative items from your credit report. However, our platform provides access to certified, nonprofit credit counselors who can help you dispute errors or outdated information that might be unfairly dragging down your 609 credit score.

Our counseling partners specialize in identifying inaccuracies and unfair reporting practices. By correcting mistakes, they help ensure that your credit report is a true reflection of your financial standing. This gives you a real opportunity to improve your 609 credit score over time like Laura did!

Read more credit success stories here!

It’s a simple fact of life: if you want to own a home and don’t have the cash to buy it outright, you need a mortgage. Here’s another fact of life: to be approved for a home loan, your 532 credit score must improve to be at or above your lender’s minimum level.

Fortunately, yet another fact of life is that most things are possible with a little help and effort. Just ask Keila S.!

Keila joined the CredEvolv platform with a 532 credit score. Her goal was to reach the minimum score of 620 required to qualify for a mortgage. The nonprofit credit counselor we connected her with had three collections accounts deleted from her report. Meanwhile, Keila paid down her credit cards and established new tradelines.

In five months, her score rose to 627, enough to make a home loan possible!

How can high credit card balances cause a 532 credit score?

Having a high utilization ratio can hurt your credit scores – even when you make the minimum required payments on time every month. It also makes it increasingly difficult to qualify for more credit. In addition to the impact on your 532 credit score, high credit card balances can increase your debt-to-income ratio (DTI).

Lenders look at your DTI ratio to gauge how much of your income is already tied up in debt payments. A lower DTI signals to lenders that you have room in your budget to take on more debt without overextending yourself. On the other hand, a higher DTI might raise red flags, suggesting you could struggle to manage additional monthly payments.

In general:

• A DTI below 36% is good and indicates you have a manageable level of debt.
• A DTI between 36-49% is acceptable but may make it harder to qualify for some loans or the best interest rates.
• A DTI above 50% could limit your borrowing options and indicate that you’re at risk of becoming overwhelmed by debt.

What can and can’t be removed from my credit report?

In a previous Credit Education blog, we covered an important topic: understanding which items can legally come off your credit report and which must remain. Improving your 532 credit score isn’t about erasing past financial choices. It’s about ensuring your report is accurate and making informed decisions to build a stronger financial future.

There’s a lot of confusion surrounding credit repair. Some companies promise they can remove all negative information from your credit history. Unfortunately, that’s not how credit reporting works. In fact, it’s illegal to delete accurate, negative entries from your report.

The Fair Credit Reporting Act (FCRA) requires credit bureaus to maintain only truthful, verifiable information. If you’ve missed payments or defaulted on a loan, that information can legally stay on your report for up to seven years. Bankruptcies, depending on the type, can remain for up to 10 years.

At CredEvolv, we prioritize transparency. The reality is that no company or individual has the legal authority to remove valid negative marks from your credit history. However, the certified, nonprofit credit counselors on our platform can assist you in disputing errors or outdated information that may be unfairly resulting in your 532 credit score.

Our expert counselor partners know how to spot inaccuracies and questionable reporting practices. By addressing any mistakes, they help ensure that your credit report reflects only accurate and up-to-date information. This gives you the best opportunity to improve your credit standing over time.

What is a tradeline on a credit report?

A tradeline is an industry term for a credit account that a lender reports to a credit bureau. Each credit account has its own tradeline, which includes information about the account, the creditor, and the type of credit, such as the account balance, payment history, and account status.

A person can have multiple tradelines on their credit report, one for each credit account in their name. Credit bureaus use tradelines to calculate a borrower’s credit score and assess their creditworthiness.

As Keila’s story shows, good credit begins with having credit. Partnering with a reputable credit counselor on the CredEvolv platform – someone who can counsel you about opening tradelines that benefit you – is how you can surpass your own credit score goals.

Read more credit success stories here!