Credit Successes

When Scott T. first connected with a nonprofit credit counselor, his credit score was sitting at 618. For Scott, it wasn’t just about the number – it was about the doors that stayed closed because of that number. A few late payments and high utilization rates were standing between him and the financial freedom he was working toward.

He was motivated, but he wasn’t sure where to start. That’s when Scott was referred to a nonprofit housing and credit counselor through his loan officer at AnnieMac Home Mortgage – a partner who knew the right support could make all the difference.

By October, Scott had officially enrolled in the CredEvolv program – a guided, personalized journey toward credit readiness. With his goal of reaching a 640 credit score, Scott got to work alongside his counselor to tackle the key issues in his credit profile. Together, they built a smart, realistic plan – one grounded in budgeting, discipline, and transparency.

Lower Utilization, Higher Score: The Power of a Smarter Budget

One of the biggest drags on Scott’s credit score was his credit utilization – the amount of credit he was using compared to his total available limit. At 42%, his utilization was hurting his score every month, even though he was making payments on time.

With a counselor’s help, Scott learned how to budget more effectively, adjust his payment timing, and prioritize his payoff strategy to maximize results. Within months, he had dropped his utilization to just 1% – an impressive feat that made an immediate impact on his credit health.

Removing Late Payments: Cleaning Up the Past

Another factor holding Scott back was a handful of late payments that were still appearing on his credit report. His counselor helped him identify which accounts were eligible for review, provided guidance on the documentation needed to support disputes, and assisted in communicating with the credit bureaus.

Through this strategic process, Scott was able to remove those late payments – giving his score even more room to grow.

The Results: A 41-Point Climb to 659

Just 41 weeks after enrolling – Scott had raised his credit score from 618 to 659, surpassing his original goal of 640 and unlocking new opportunities for financing. He completed 8 structured counseling sessions during that time, each one focused on progress, accountability, and education.

He was officially moved to “Goal Reached”, and he graduated from the program with a clear path forward – and the tools to stay on track.

Why Scott’s Journey Matters

Scott’s story is proof that real credit transformation doesn’t require gimmicks, expensive programs, or shady tactics. What it does take is the right guidance, a clear strategy, and the willingness to stay committed.

Unlike many for-profit credit repair firms that promise overnight results, the nonprofit counselors in the CredEvolv network focus on sustainable change – built around each consumer’s unique goals and financial realities.

Whether you’re trying to buy a home, refinance, or simply take control of your financial future, Scott’s journey shows that real results are possible – and they’re closer than you think.

When Brian W. started his credit journey, he was carrying a heavy load – 87% credit utilization and a score that stood in the mid-580s. Thanks to a referral from his lender, AnnieMac Home Mortgage, Brian was introduced to CredEvolv and paired with a nonprofit credit counselor who knew exactly what to do

Like many Americans, he wanted to improve his financial standing but didn’t know where to begin. That’s when CredEvolv stepped in and paired him with a nonprofit credit counselor who knew exactly what to do.

Brian was matched with a skilled counselor who quickly identified two major areas for improvement: establishing healthy trade lines and reducing his credit utilization ratio, one of the biggest factors impacting a credit score.

Over the course of just five sessions, Brian and his counselor worked together to create and implement a realistic, personalized budget. This wasn’t a one-size-fits-all plan – it was based on Brian’s actual income, spending habits, and goals. With each session, they tracked progress, adjusted spending, and prioritized smarter repayment strategies.

One of the biggest wins? Brian dropped his utilization from 87% down to 47% – a huge leap that had an immediate impact on his credit. Reducing credit utilization is one of the fastest and most effective ways to improve your credit score, and Brian saw the results in real time.

He also took key steps toward building new trade lines, expanding his credit profile in ways that signaled responsible use to the credit bureaus. By using credit the right way – keeping balances low and paying on time – Brian set himself up for long-term success.

A Credit Score Climb That Opened New Doors

Brian started with a 584 credit score, and with hard work and guidance, saw it rise to 613 – a 29-point jump over just 21 weeks. That progress is even more impressive when you consider that he surpassed his personal goal of 610 and came within a few points of the program’s target of 620.

The improvement landed Brian in the 600 – 619 credit score range, a critical milestone that unlocks better lending opportunities, lower interest rates, and greater financial confidence. For many consumers, crossing the 600 threshold is the beginning of a major financial turnaround – and Brian made it happen through consistent effort and real support.

“Great Program to Help You with Your Credit” – Brian W

That’s how Brian described CredEvolv in his final session. And it’s a sentiment echoed by thousands of others who have completed the program. Nonprofit credit counseling works – when it’s high-touch, transparent, and customized. Brian didn’t just get advice; he got an action plan, accountability, and a partner in his success.

Ready to reduce your credit utilization and boost your score like Brian?
Connect with a nonprofit credit counselor today and take the first step toward your financial goals. Whether you’re trying to qualify for a mortgage, lower your debt, or simply take control of your credit, we’re here to help.

When Ruben B. first connected with CredEvolv through, his loan officer with AnnieMac Home Mortgage in June 2024, he was feeling stuck, he was feeling stuck. Like many consumers hoping to buy a home, he knew his credit score was standing in the way – but he wasn’t quite sure how to fix it on his own.

At the time, Ruben’s credit scores were far from ideal:

• Equifax: 607
• TransUnion: 663
• Experian: 636

He had two collection accounts on his credit report and one late payment that continued to drag his score down. But instead of turning to a traditional credit repair company with big promises and little transparency, Ruben took a different route – one backed by nonprofit credit counselors and a clear plan of action.

He enrolled in the CredEvolv platform the very next day.

A Personalized Credit Solution

Ruben was paired with a credit counselor who didn’t just offer generic advice – she got to work on his specific situation. Together, they created a customized plan based on his financial goals, timelines, and credit profile. Within just a few sessions, they had already disputed and successfully removed two collection accounts and one inaccurate late payment.

With those negative items gone, Ruben had room to breathe – and to build. His counselor helped him understand how to optimize his credit utilization, stay on top of on-time payments, and establish strong credit habits that would last far beyond his time in the program.

The Results

Over the course of seven counseling sessions, Ruben made steady progress. By January 2025 – just 32 weeks after he enrolled – Ruben had officially reached his credit goal and achieved a 90-point credit score increase from where he started.

Even better, he didn’t just hit an arbitrary number. Ruben had set a personal goal of reaching the 720–739 credit score range – a milestone that could help him unlock lower interest rates, better mortgage offers, and a stronger financial future.

Now, he’s actively working with his loan officer to get preapproved for a mortgage – and he’s in a great position to do so. Thanks to his hard work and the personalized support he received, Ruben turned a frustrating credit situation into a powerful financial comeback – in less than a year.

Why Ruben’s Story Matters

Ruben’s journey is proof that you don’t have to be perfect – you just have to start. Improving your credit doesn’t require expensive shortcuts or risky credit repair schemes. It requires knowledge, support, and a plan.

At CredEvolv, we believe that when consumers like Ruben are empowered with the right tools and guidance, incredible things can happen.

When your credit score is low, even the first steps toward homeownership can feel out of reach. For John S, the dream was clear: qualify for a mortgage and buy a home – and with the right help, that’s exactly what he did. But with a credit score of just 554, multiple collection accounts, and high credit card balances, he knew he needed help.

Instead of turning to one of the many for-profit credit repair companies offering quick fixes and questionable promises, John found a smarter way forward, when his loan officer at AnnieMac Home Mortgage connected him to a nonprofit credit counselor through CredEvolv’s technology platform.

The Starting Point: A 554 Credit Score and Multiple Collection Accounts

John enrolled with CredEvolv in early 2024 after being referred by his mortgage lender, who believes in giving all of his clients a real chance to succeed. Unlike the top credit repair firms that charge steep fees and rely on automated disputes, CredEvolv’s technology platform connects consumers to HUD-certified nonprofit credit counselors who take a personalized, education-first approach.

John was matched with a counselor who reviewed his full credit profile and developed a custom Success Plan – his blueprint for how he would reach his goal. Together, they worked on:

• Identifying and disputing inaccurate or outdated collection accounts
• Reducing credit card balances to improve his credit utilization ratio
• Building smart financial habits that could boost his score without gimmicks

No illegal “credit sweeps.” Just real guidance from a trusted source.

Just 8 Sessions to Transform His Credit

Over the course of eight sessions, John followed through on the plan. His counselor stayed with him every step of the way – answering questions, helping him understand his credit report, and adjusting strategies as needed.

The results speak for themselves. In less than 10 months, John’s score jumped from 554 to 648 – a 94-point increase that led to a loan approval with his original loan officer at AnnieMac Home Mortgage.

He’s now officially a homeowner – a goal that once felt out of reach but became reality with the help of a nonprofit credit counselor and his own determination.

In less than 10 months, John’s score jumped from 554 to 648 – a 94-point increase that led to a loan approval with his original loan officer, Carter Morgan at AnnieMac Home Mortgage.

The CredEvolv Difference

Too often, people are drawn to credit score repair companies that make big promises but deliver little value. What sets CredEvolv apart is that it’s not just another credit solution program – it’s a mission-driven technology platform powered by nonprofit credit counselors, built-in transparency, and real-time results tracking.

Instead, clients like John get access to the best credit help available, backed by statistics that show real, sustainable progress. And in John’s case, that progress translated into something even more powerful – closing on a home with his original loan officer.

Ready to Take the First Step?

John’s story is just one of many. His success proves that with the right support and a clear plan, you can not only improve your credit score – you can reach your biggest goals, like buying a home.

Whether you’re looking to buy a home, refinance, or simply break free from bad credit, CredEvolv is here to help.

When Erin T. first joined the program, she had one goal in mind: to buy a home. Like many others, she believed that dream might be years away due to her credit standing. With a starting credit score of 576 and multiple collection accounts weighing down her report, Erin was facing barriers that felt insurmountable.

But instead of giving up, she chose to move forward – with support, strategy, and the right guidance.

Rather than feel overwhelmed, Erin leaned into the process. Over the course of just four sessions, she worked side-by-side with a credit counselor to identify the steps that would make the biggest impact. Together, they focused on accuracy, strategy, and forward motion. One by one, those four collection accounts were removed from her report – opening the door to meaningful change.

As those negative marks came off, Erin’s credit score began to climb – first from 576 to 590, then again to 593. A 17-point increase may not seem massive to some, but for someone working toward a specific goal like homeownership, it can be the difference between waiting and moving forward with confidence.

And that dream? It’s now becoming reality.

“I’m so excited about my progress. We actually were preapproved to buy a home and should be closing in the next week or two,” Erin said.

That moment – when someone no longer needs ongoing support because they’ve achieved their goal and gained lasting financial confidence – is what this work is all about.

Erin’s story isn’t just about the numbers. It’s about persistence, accountability, and being willing to take the next right step, even when the big picture feels far away. Her experience shows that meaningful change doesn’t always require years – just the right actions at the right time, backed by expert support.

Now, Erin is preparing to close on her home, a milestone that once felt out of reach.

Her journey is a powerful reminder of what can happen when someone takes that first step, stays committed, and partners with people who are invested in their success.

And for others who are facing similar challenges – we’re here for you, too.

If you’re struggling with credit, unsure where to start, or just need a roadmap to reach your goals, our team is ready to help. Whether your dream is to buy a home, secure a better loan, or simply feel confident about your financial future, our credit counselors are here to guide you with personalized support and encouragement every step of the way.

You don’t have to figure it out alone. Just like Erin, you can move forward – and we’ll be right here to help you do it.

When Lakita began her credit journey in March 2024, her credit score was down at 598. Like many people, she had a big goal – to become a homeowner. But with a target 680 credit score, she knew she had work to do.

By October 2024, she didn’t just reach her goal – she exceeded it. Lakita raised her mid-score to 683. Her transformation proves what’s possible when you work with the right support system – and a real plan.

What Brings Down Credit Scores?

One of the most common questions people ask is: what brings down your credit score? For Lakita, like many others, the answer included charge-off accounts and collections.

In her case, six charge-offs and two collections were dragging her score down. These negative items are common causes of a credit score drop, especially if they remain unresolved.

Working With the Right Help Matters

Instead of turning to one of the worst credit repair companies that promise a “quick fix,” Lakita worked with a nonprofit credit counselor through our platform. These certified professionals don’t rely on questionable tactics like credit sweeps or practices that raise the question: is credit repair illegal?

She worked with a counselor who created a step-by-step, compliant action plan – something that illegal credit repair operations simply don’t provide. And it paid off.

Real Credit Solutions With Real Results

As her counselor guided her through dispute processes and smart rebuilding steps, Lakita successfully removed the six charge-off accounts and two collections from her credit report. These changes made a significant impact, helping her cross the crucial 680 credit score threshold.

If you’ve ever asked why is my available credit lower, or wondered how to fix your credit, you’re not alone. Whether it’s a sudden score drop or a lifetime of low credit, the truth is that working with credit rebuilding companies – the right ones – can make all the difference.

We only connect consumers to nonprofit credit repair companies that focus on long-term success, not shortcuts.

Ready for Homeownership

With a credit score above 680, Lakita is now eligible for most mortgage programs. That number opens doors – not just to home loans, but to better terms, lower interest rates, and more financial freedom.

This is what a credit solution company should help you do: create lasting change, not just chase a temporary boost.

Want to Start Your Journey?

If your credit is down, or you’re asking yourself what brings down a credit score – it’s time to get real help. Skip the scams. Avoid the hype. And get started with a counselor who has your back.

When it comes to unlocking financial opportunities, your credit score plays a powerful role. For Jose, getting approved for a Home Equity Line of Credit (HELOC) meant improving his credit score from 630 to 680 or higher. Thanks to strategic changes and the right guidance, he didn’t just meet that goal – he surpassed it, reaching an impressive 740 in just seven months.

Jose’s story is a great example of how realistic and effective credit rebuilding can be when you’re committed and supported by professionals. It also highlights how even a few targeted actions can make a huge difference.

What Held Him Back

Like many people, Jose had one recent late payment on his credit report. While it might not seem like a major issue, a single late payment can have a significant negative impact – especially if you’re already hovering in the low 600s. Late payments stay on your credit report for up to seven years and can hurt your chances of getting approved for loans, credit cards, or a HELOC.

In addition, Jose’s credit card utilization – the amount of available credit he was using – was sitting at 58%. Experts recommend keeping this number below 30% to show lenders that you can manage credit responsibly. High utilization signals risk, which can drag down your credit score.

What Changed

Working with a nonprofit credit counselor, Jose followed a customized action plan designed to rebuild his credit. His plan focused on two critical changes:

• Removing the late payment: Through the help of his counselor and documentation support, the recent late payment was successfully removed. This step alone helped raise his score and clear a major red flag from his credit history.
  
• Lowering credit card balances: Jose focused on paying down his credit card debt, reducing his utilization rate from 58% to 46%. While still above the ideal 30%, this improvement helped demonstrate progress – and credit scoring models rewarded him accordingly.

The Result

By July 2024, Jose’s mid-score had jumped from 630 to 740 – a 110-point increase in just seven months. This positioned him not only to qualify for the HELOC he needed, but to do so with much better terms. A higher credit score often means lower interest rates, higher approval amounts, and more financial flexibility.

Why It Matters

Jose’s story proves that credit rebuilding companies that offer personalized, nonprofit support can deliver real results – without gimmicks or empty promises. Unlike the worst credit repair companies that may try to “sweep” your report illegally or charge hidden fees, ethical credit solutions focus on long-term, sustainable changes.

If you’re wondering how credit repair companies remove negative items, the truth is: the good ones don’t “remove” anything illegally. They help you verify the accuracy of your report and dispute errors the right way. They also empower you to make smarter financial choices – like paying down debt and avoiding future late payments.

Ready to Start?

Whether you’ve been denied a loan, are trying to qualify for a HELOC, or just want to stop living with poor credit, our platform connects you with experienced nonprofit credit counselors who know how to help. Credit rebuilding doesn’t have to be scary or expensive – it just has to be smart.

When Joseph L. enrolled in CredEvolv’s nonprofit credit counseling program, he had one clear goal: to refinance his home and secure a better interest rate. But his credit report was standing in the way. With a mid credit score of 676 in December 2023, Joseph was just shy of the 720 score needed to access top-tier refinancing offers.

What made Joseph’s situation even more challenging were the two charge-offs and seven late payments showing on his credit report – significant derogatory marks that can drag down credit scores and limit loan options. These negative items, combined with inconsistent credit utilization patterns, made it difficult for him to move forward on his own.

The Power of Personalized Credit Counseling

That’s where CredEvolv stepped in. Unlike traditional credit repair companies that often rely on questionable tactics like illegal credit sweeps, CredEvolv connects consumers with HUD-certified nonprofit credit counselors who create personalized, ethical, and effective credit rebuilding plans.

Joseph’s counselor worked closely with him to review his credit report, understand his financial history, and develop a plan to clean up his credit the right way. Together, they tackled the charge-offs and addressed the late payments by working with creditors and submitting proper documentation. Joseph also committed to building stronger financial habits – automating payments, lowering his credit utilization, and tracking his progress through the CredEvolv platform.

Real Credit Score Gains, Real Results

By November 2024 – just 11 months later – Joseph’s mid score had climbed from 676 to 702, marking a 26-point improvement. While the number itself may seem small, this increase reflects a significant cleanup of his credit profile. Removing two charge-offs and seven late payments not only helped Joseph’s score, but also boosted his overall creditworthiness in the eyes of lenders.

This wasn’t the result of a quick fix or a credit “hack.” Joseph made meaningful changes, followed a plan, and partnered with a nonprofit credit repair company focused on real solutions – not gimmicks.

Ethical Credit Repair That Works

Joseph’s story is proof that credit rebuilding is possible, even when the odds seem stacked against you. Whether you’re dealing with derogatory marks like charge-offs and late payments, or you’re simply unsure how to qualify for a refinance or mortgage, CredEvolv offers a trusted, legal, and supportive path forward.

We’re not like the worst credit repair companies that promise results without substance. We’re a mission-driven platform committed to helping people build a better financial future – one step at a time.If you’ve ever wondered how to remove negative items from your credit report, Joseph’s journey shows that with the right support, it’s absolutely possible.

Ready to write your own credit success story?

Connect with a nonprofit credit counselor today and get started on the path toward lower rates, more approvals, and long-term financial peace.

When Kelley joined CredEvolv in October 2023, she didn’t have a credit score at all. Like millions of Americans who are considered “credit invisible,” Kelley had no open lines of credit and no active accounts reporting to the bureaus.

That meant she couldn’t qualify for a mortgage, or even begin the conversation. But Kelley had a goal: to buy a home. And with the help of her nonprofit credit counselor and the right strategy, she made it happen. By April 2024 – just six months later – she had gone from having no credit score to achieving a mid score of 647, officially becoming mortgage-ready.

Why No Credit Can Be Just as Limiting as Bad Credit

One of the biggest myths about credit is that having no credit is better than having bad credit. Unfortunately, that’s not true in the eyes of lenders. Without a score, lenders can’t evaluate your creditworthiness at all. For Kelley, this meant being shut out of traditional financial products and the mortgage market.

Fortunately, Kelley’s counselor understood exactly what steps to take. As part of a certified nonprofit credit repair program, her counselor didn’t rely on shortcuts or gimmicks. Instead, they focused on building Kelley’s credit the right way – from the ground up.

How a Nonprofit Credit Counselor Helped Kelley Build Credit

The first step was helping Kelley open and responsibly use a line of credit. Many credit rebuilding companies push expensive credit builder loans or charge upfront fees, but Kelley’s counselor helped her choose an option that was low-cost and effective. She learned how to manage the new account, keep utilization low, and make on-time payments that would positively impact her score.

In addition, her counselor identified two inaccurate collection accounts on her credit report. Through a dispute process grounded in consumer rights and documentation, both accounts were deleted successfully.

This wasn’t a “credit sweep” or a fast-talking scheme. It was a legitimate, ethical process – one of the ways credit repair companies remove negative items when they follow the law and focus on accuracy.

The Power of Personalized Credit Coaching

Unlike traditional credit solution companies that take a one-size-fits-all approach, Kelley worked one-on-one with a dedicated counselor who guided her every step of the way. This kind of personalized support is why nonprofit credit repair companies are so effective. They’re not trying to sell quick fixes – they’re helping people create long-term change.

Today, Kelley is mortgage-ready with a score of 647 and a clear path forward. What started as a blank slate became a powerful credit foundation – one that could support not just homeownership, but long-term financial health.

Need help rebuilding your credit the right way?
Connect with a certified credit counselor and discover what you may qualify for.
No gimmicks. Just real solutions, backed by the power of expert support.

When Steve Chadwick came to CredEvolv in October 2023, he was determined to purchase a home. But like millions of people, his credit stood in the way. With a mid score of 633 and a goal to reach at least 680, Steve’s dream of homeownership seemed just out of reach.

What many people don’t realize is that it’s not just about having a credit score – it’s about having the right support, strategy, and structure to improve it. That’s exactly what Steve found when he joined CredEvolv’s credit counseling platform. Through a connection with a certified, nonprofit credit counselor, Steve was able to begin the real work of turning things around.

Over the course of just nine months, Steve raised his mid score by 44 points – ending at an impressive 677. But the score is only part of the story.

When his counselor pulled his initial credit report, Steve had 17 late payments showing across his accounts. Those marks were dragging his score down and making lenders wary. But with expert guidance and a tailored dispute strategy, his counselor helped him remove all 17 late payments – opening the door to a much cleaner credit profile.

Just as critical was Steve’s credit utilization. When he started, his balances were maxed out. His utilization rate was a shocking 327%, a number that virtually guarantees a low credit score. With help creating a realistic and sustainable monthly budget, Steve was able to steadily pay down his balances. By July 2024, he had brought his utilization all the way down to just 6% – a massive shift that played a key role in his score jump.

Steve’s journey is proof that credit transformation is possible – not just for the lucky few, but for anyone who’s willing to do the work and get the right support. Through our platform, clients like Steve get matched with nonprofit credit counselors who offer affordable, ethical, and proven strategies – not gimmicks, not scams, and not empty promises.

Whether you’re working toward homeownership, refinancing, or financial stability, CredEvolv gives you the tools and the team to help you move forward.

Want to see how you could improve your credit like Steve?

Schedule your free credit consultation today and take the first step.

When you’re working toward your goals – like buying a home – credit challenges can feel like a mountain standing in your way.

For Ana, a recent CredEvolv client, that mountain looked steep: a 585 credit score, a new collection account, and three suspicious inquiries weighing her down.

She wasn’t sure where to start. She just knew she couldn’t afford to stay stuck.

At CredEvolv, we believe that with the right guidance, no credit challenge is too big to overcome.
That’s why we quickly connected Ana with a certified, nonprofit credit counselor through our consumer credit solutions program — a trusted expert who could help her create a clear, personalized plan for rebuilding her credit.

Identifying the Root of the Problem

During her initial consultation, her credit counselor conducted a detailed review of her credit report. It was clear that the new collection account and three suspicious inquiries were doing serious damage to her score. These negative items weren’t just obstacles – they were preventing her from reaching the 620 minimum score required by her mortgage lender, and even her personal target of 660.

Together, they mapped out a path to recovery – one that would not only address the immediate problems, but also lay the foundation for strong, sustainable credit habits going forward.

Taking Action: Removing the Barriers

Through strategic work and careful documentation, her counselor helped her dispute the inaccuracies and remove the collection account and unauthorized inquiries from her credit report.

Each successful removal was a victory –  not just for her credit score, but for her confidence and financial future.

This proactive approach shows just how powerful having a skilled, nonprofit counselor by your side can be. Rather than guessing what steps to take, she had a proven roadmap and an expert partner guiding her every step of the way.

The Results: A Remarkable Transformation in Just 3 Months

The progress was fast –  and incredible.
Within just three months, her credit score soared from 585 to 711.

✅ She exceeded her mortgage lender’s goal of 620
✅ She surpassed her own personal goal of 660
✅ She opened the door to homeownership and financial stability

With a 126-point increase, she didn’t just bounce back –  she came back stronger than ever.

Why Personalized Credit Counseling Makes All the Difference

Her story is a powerful reminder that credit setbacks are not permanent.

With the right tools, the right plan, and the right support, financial goals that once felt out of reach become entirely possible.

At CredEvolv, we believe everyone deserves access to expert help – not just quick fixes, but real, lasting solutions.

Our nonprofit credit counselors don’t just address the symptoms of credit issues – they work alongside you to solve the root causes, empowering you to build stronger financial habits for life.

If you’re ready to start your own credit comeback, connect with a certified counselor today – or refer a client who needs help – and take the first step toward the future you deserve.

See more real credit success stories here.

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.