Credit Successes

Goals are good, like improving a 557 credit score. Achieving them is better. Exceeding them is the best!

Just ask Cesar F.

Cesar came to us with a 557 credit score. He needed to improve it to 620 to qualify for a mortgage but set a personal goal of 650. He paid down his credit card balances, his counselor had two collections removed from his credit report, and he ended up exceeding his goal with a 655 score!

How can high credit card balances cause a 557 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 557 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 currently goes to 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?

As we’ve highlighted in a previous Credit Education blog, it’s crucial to understand which items can legally come off your credit report and which must remain. The reality is that improving your 557 credit score isn’t about erasing your financial past. It’s about ensuring your report is accurate and making positive changes moving forward.

There’s a lot of misleading information when it comes to credit repair. Some companies claim they can eliminate all negative marks from your credit history. That’s simply not the case. In fact, removing truthful negative information is against the law.

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

At CredEvolv, we want to be clear: no company or individual has the legal ability to remove valid negative items from your credit report. However, the certified, nonprofit credit counselors on our platform can assist you in disputing inaccuracies or outdated details that could be unfairly causing your 557 credit score.

These professionals are trained to identify reporting errors and questionable practices. Their expertise helps ensure that your credit report reflects only what truly belongs there, giving you the best opportunity to improve your financial standing.

In Cesar’s case, the legitimate removal of two collections accounts from his credit report meant the difference between simply achieving his initial credit score goal and surpassing it. Go Cesar!

Read more credit success stories here.

Buying a home is one of the most, if not the most, significant purchases a person will ever make. Most people can’t afford to pay cash for real estate. Others prefer to invest that large sum of money elsewhere. So they decide to borrow the money.

To do that, they need healthy credit. A 552 credit score won’t cut it. That’s why Ryon R. came to us for help.

Ryon needed higher than a 552 credit score to secure a home loan. We connected him with a certified, nonprofit credit counselor, who was able to remove four collections accounts from his credit report. Only four months later, his score shot up to 661 and into his mortgage lender’s approval zone!

What can and can’t be removed from my credit report to improve my 552 credit score?

As we’ve pointed out in a past Credit Education blog, it’s important to know which items can legally come off your credit report and which must remain. Improving your credit isn’t about erasing past financial decisions. Actually, it’s about ensuring accuracy and taking the right steps to increase your 552 credit score.

There’s a lot of misinformation about credit repair. Some companies claim they can remove all negative marks from your credit history. Unfortunately, that’s not how the process works. In reality, it is illegal to erase valid negative information from your report.

The Fair Credit Reporting Act (FCRA) ensures that credit bureaus only report verified and accurate information. For example, if you’ve had a late payment or defaulted on a loan, that record may legally stay on your report for up to seven years. Bankruptcies, depending on the type, can remain on your report for up to 10 years.

At CredEvolv, we believe in providing clear and honest information. To be clear: no company or individual has the legal authority to remove legitimate negative items from your credit report. However, the certified, nonprofit credit counselors available through our platform can help you challenge inaccurate or outdated details that may be unfairly causing your 552 credit score.

These professionals are skilled in identifying errors and inconsistencies in credit reports. Their expertise helps ensure that your credit history reflects only accurate and up-to-date information, giving you the best chance to improve your 552 credit score over time.

In Ryon’s case, the legitimate removal of four collections accounts from his credit report meant the difference between a mortgage approval and a denial. That was huge for him, and it can be for you, too.

Read more credit success stories here.

To have good credit, you have to pay back the money you borrowed. You also have to make those payments on time, every time, and not go overboard with your balances.

When Jose came to us, he had a 630 credit score. As he paid down his credit card balances, his credit counselor was able to remove a few late payments from his credit report. This combined effort catapulted his score to 740 in 7 months, leaving his personal goal of 680 in the dust!

Jose V. learned these things on the CredEvolv platform. Lo and behold, his original 630 credit score improved considerably.

What can and can’t be removed from my credit report to raise my 630 credit score?

As we’ve mentioned in a previous Credit Education blog, understanding what can and cannot be legally removed from your credit report is essential. Boosting your 630 credit score isn’t about erasing past financial history. It’s about making sure your report is correct and taking the right steps to improve your financial health.

There’s a lot of confusion surrounding credit repair. Some companies claim they can eliminate all negative items from your credit history. Unfortunately, that’s not how it works. In fact, removing accurate negative information is against the law.

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

At CredEvolv, we believe in transparency and honesty. The reality is that no company or individual has the legal ability to remove valid negative marks from your credit report. However, the certified, nonprofit credit counselors on our platform can assist you in disputing inaccuracies or outdated details that may be unfairly causing your 630 credit score.

These experts specialize in spotting errors and inconsistencies in credit reports. Their knowledge ensures that your credit history accurately reflects your financial situation, giving you the best chance to improve your credit standing and 630 credit score over time.

This approach worked for Jose and countless others who came to CredEvolv for help. It can work for you too!

Read more credit success stories here.

Sometimes, when you’re making progress on improving a 541 credit score, certain things move in opposite directions. Other times, everything moves in the same direction.

Martha L.’s success story incorporates a little bit of both.

Martha had a 541 credit score when she enrolled in the CredEvolv platform. She began paying down her credit card balances, which improved her debt-to-income ratio (or DTI) and pushed her credit score upward. Meanwhile, her credit counselor – who was working with her in lockstep, pulling in the same direction – was able to have a late payment deleted from her credit report.

Their combined efforts resulted in Martha’s 541 credit score reaching 663, well above her and her lender’s goal of 620!

Why does DTI matter when you’re trying to get a loan?

Lenders look at your debt-to-income 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 considered 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.

Should you try to fix your 541 credit score yourself?

As we’ve pointed out in previous CredEvolv success stories, and as Martha’s story illustrates, the collaboration between our clients and the counselors we connect them with on our platform is the key to success. That’s why we never recommend attempting fixing your 541 credit score yourself. There are many ways you can mess things up when you try to clear your own credit record.

Improving your 541 credit score isn’t rocket science. It’s also one of those things that is best left to the experts. 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 here to keep you in a program for longer than you need to be.
• They’re not out to make a profit off your hard times.

They’re here to coach you to success and show you the responsible credit practices that can improve your life and your 541 credit score. These improvements occur while you’re enrolled in the program, and they can remain for years to come after you’ve achieved the credit score you want and deserve.

Read more credit success stories here!

You never know what you’re capable of until you try something and commit to it. That’s true of getting in better physical shape, pursuing an advanced college or professional degree, and improving your 601 credit score.

Thomas H. can attest to the third one.

Thomas hopped on the CredEvolv platform with a 601 credit score. He established a new line of credit while his credit counselor worked on having a late payment deleted from his credit report. Those two moves sent his score soaring to 795 in 4 months, blowing away his initial goal of 620!

“How quickly can I improve my 601 credit score on the CredEvolv platform?”

Now is the best time to start the process of improving your credit. Forget what Google or the for-profit credit repair guys tell you. It takes a little time for your 601 credit score to go up, and it doesn’t always happen overnight.

While some of our clients see significant improvement after one month, our clients typically reach their credit goals and loan readiness in an average of 3 to 5 months. Thomas is an example of both. He achieved his initial goal almost immediately. But he was so encouraged by his results that he continued on our platform. He ended up going from a 601 credit score to knocking on the door of an 800 credit score.

Depending on your individual situation, you may need services like dispute resolution, budget analysis, debt-to-income ratio analysis, payment negotiations, credit card or loan payoffs (or not), and more. These are things that only a HUD-certified nonprofit credit counselor on our platform will know how to deal with effectively.

Once your counselor helps you with these services, who knows? You might see results similar to Thomas’ amazing improvement from a 601 credit score. You never know until you try!

Read more credit success stories here!

One of the things we preach at CredEvolv is the importance of getting help when your credit is in rough shape. In other words, don’t feel the need to DIY the improvement of your 539 credit score. When you work in conjunction with a certified, nonprofit credit counselor on the CredEvolv platform, you can achieve great things!

Here’s yet another example of that winning formula.

Bethany H. joined our platform with a 539 credit score. She immediately began working with her personal credit counselor to pay down her balances. Meanwhile, Bethany’s counselor was able to remove some collection accounts and charge offs from her credit report, pushing her score beyond her goal of 620 to 643!

“Should I try to fix my 539 credit score myself?”

As we pointed out in a previous CredEvolv success story, the collaboration between our clients and the counselors we connect them with on our platform is the key to success. That’s why we never recommend attempting your own fixes for your 539 credit score. There are many ways you can mess things up when you try to clear your own credit record.

Improving your 539 credit score isn’t impossible. It’s also one of those things that is best left to the experts. 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 here to keep you in a program for longer than you need to be.
• They’re not out to make a profit off your hard times.

They’re here to coach you, motivate you, inspire you, and show you the responsible credit practices that can improve your life. These improvements in your 539 credit score occur while you’re enrolled in the program. They can remain for years to come after you’ve achieved the credit score you want and deserve.

Read more credit success stories here!

Credit problems have a way of piling up. When they do, fixing things like a 594 credit score can seem like trying to scale Mt. Everest. It doesn’t have to be that way, especially if you get help from a certified, nonprofit credit counselor on the CredEvolv platform.

No one knows this more than Jarad O.

When Jarad started working with us, he had a 594 credit score due to a whopping 41 derogatory accounts. His personal, certified credit counselor was successful in deleting 30 of those accounts from his credit report. Nine months later, his credit score reached 708, exceeding his initial goal of 700!

Why shouldn’t I dispute things on my credit report myself?

When it comes to disputing derogatory information on a credit report, working with a certified, nonprofit credit counselor on the CredEvolv platform can be a game-changer. Yes, it might seem tempting to tackle this situation on your own. However, the expertise and guidance a credit counselor offers can make all the difference in getting some or all of those negative marks removed efficiently and permanently.

Credit counselors have a deep understanding of how credit reporting agencies work and the laws that protect consumers, like the Fair Credit Reporting Act (FCRA). This means they know exactly what to look for and how to communicate effectively with creditors and reporting agencies.

They can identify errors or unfair practices on your report that you might overlook. They’ll also know the right steps to take to ensure these issues are resolved correctly. By having a professional advocate on your side, you’re more likely to see faster, more favorable results than if you were navigating the process of improving your 594 credit score alone.

On top of that, disputing derogatory information can be time-consuming and frustrating. Credit counselors take the pressure off. Handling the back-and-forth communications with your creditors is part of their job. Meanwhile, you don’t have to worry about deadlines, follow-ups, or confusing jargon.

Letting a credit counselor do the heavy lifting frees up your time and gives you peace of mind, knowing you’re in good hands. It’s all about getting back on track sooner with fewer headaches. That’s the smart way to improve a 594 credit score and build a stronger financial future – with the guidance of someone who truly understands the system.

Read more credit success stories here!

You can’t have a 686 credit score if you have no credit. That’s just how the credit game is played. When you have only derogatory information on your report, that makes things worse.

CredEvolv is here to help make things better, which is what we did for Serbante L.

Serbante enrolled in the CredEvolv platform with collection accounts and no open tradelines. He was only able to generate 2 credit scores, both in the mid-500s.

The nonprofit credit counselor we connected him with had both collections deleted while Serbante established new tradelines. His number rose 139 points to a 686 credit score, surpassing his personal goal of 650!

What are collections on a credit report?

We answered this question in a previous success story, but here’s a refresher:

A collections account happens if you fall behind on payments and the lender or creditor decides to transfer your account to a collection agency or sell it to a debt buyer. Even one collection can make it extremely difficult to achieve a 686 credit score.

This can occur anytime from the date you begin missing payments or not paying the full minimum payment to a few months after you become delinquent. Lenders and creditors will usually send you letters or call you regarding the debt before it is sent to a collection agency. 

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. Too many tradelines can make it difficult to ascend to a 686 credit score.

As you can see, good credit begins with having credit. Partnering with a reputable credit counselor on the CredEvolv platform, someone who can step in and have derogatory information removed from your credit report, is how you can surpass your own goals and achieve a 686 credit score.

Read more credit success stories here!

Making on-time payments is the best thing you can do to improve your 458 credit score. A close second is enlisting an expert to assist with deleting derogatory information (if doing so is justified).

That’s the formula Karyn M. used to make a big improvement to her 458 credit score on the CredEvolv platform.

Karyn was behind on a few accounts when she came to CredEvolv with a 458 credit score. Her personal credit counselor taught her how to set a budget and catch up. Meanwhile, the counselor challenged and removed three charge-offs and two collection accounts. Karyn’s 458 credit score soon jumped 139 points to 597, just a few points shy of her goal of 600!

Falling behind on payments is a big no-no when it comes to borrowing money. It can also lead to the other two negatives Karyn had on her report.

What are collections and charge-offs on a credit report?

• A collections account occurs if you fall behind on payments. At that point, the lender or creditor can decide to transfer your account to a collection agency. They can also sell it to a debt buyer. This can occur anytime from the date you begin missing payments or not paying the full minimum payment to a few months after you become delinquent. Lenders and creditors will usually send you letters or call you regarding the debt before they send it to a collection agency. 
• A charge-off is an accounting term that indicates the creditor doesn’t think you’ll pay back the debt. When that happens, the creditor writes off the debt and stops attempting to collect the debt themselves. However, if a collections agency has purchased the debt, it may attempt to collect what you owe. That amount can include the outstanding balance and any interest that has accrued.

Now that Karyn has almost reached her credit score goal, she’s in a better position to achieve her financial goals. She also has the option of remaining on the CredEvolv platform to take her score even higher with the lessons she’s learned about budgeting.

Read more credit success stories here!

Some people see significant improvement quickly from a 557 credit score on the CredEvolv platform. Others get them over a longer period of time. Then there are those who achieve their credit goals and stay with us to reach even greater heights.

Luis D. fits into the third category.

He enrolled in the CredEvolv platform with a 557 credit score and a goal of reaching 620. We connected him with a personal, certified credit counselor, who encouraged him to lower his credit card utilization and pay his accounts on time.

This – along with the removal of some late payments, collections, and charge offs – enabled Luis to blow past his goal! He was so inspired by the results that he remained in the program and achieved a 746 credit score, almost 200 points higher than his original 557 credit score!

Traditional credit repair companies seek to keep you in their programs so you rack up unnecessary and expensive fees. At CredEvolv, we want you to reach your goals as soon as possible. But we’ll never discourage you from continuing with us if that’s what you want to do!

What are collections and charge-offs on a credit report?

We answered this question in a previous success story, but here’s a refresher:

• A collections account happens if you fall behind on payments and the lender or creditor decides to transfer your account to a collection agency or sell it to a debt buyer. This can occur anytime from the date you begin missing payments or not paying the full minimum payment to a few months after you become delinquent. Lenders and creditors will usually send you letters or call you regarding the debt before it is sent to a collection agency. 
• A charge-off happens when the creditor doesn’t think the debt will be paid back. Even though the creditor has written the debt off and has stopped attempting to collect the debt themselves, if a collections agency has purchased the debt, it may attempt to collect what you owe. That amount can include the outstanding balance and any accrued interest.

What are the different ranges of credit scores?

Remember, these ranges are general guidelines. Each individual lender, landlord, and employer can set their own standard for acceptable credit score levels.

Credit scores typically range from 300 to 850. Higher scores indicate better creditworthiness than a 557 credit score. Here’s a breakdown of the typical ranges:

• Not Great (300-579)
• Okay (580-669)
• Better (670-739)
• Even Better (740-799)
• Outstanding (800-850)

For a deeper dive into each range and to understand what you may and may not be able to do with your credit score, read our blog.

For further inspiration to push your 557 credit score into the Outstanding range, read more credit success stories here.

When you have a 400 credit score, there’s almost nowhere to go but up. The only question is, how high can you go?

In Francisco R.’s case, the certified credit counselor he connected with on our platform helped him establish a new tradeline. His counselor also disputed some older late payments and a collection account. His 400 credit score shot up to 695 in only 4 months! That increase put him only 5 points away from his goal of a 700 credit score!

How quickly can you see a significant improvement in your credit score?

Francisco’s result is not typical; the average CredEvolv customer sees a 53-point increase in 3 to 5 months. But a 295-point increase from a 400 credit score in such a short period of time shows what’s possible, even when you’re starting with essentially no credit score at all.

If you’re in a similar boat and don’t know where to begin, check out our blog about how to build and keep a strong credit profile. Better yet, consider connecting with a certified, nonprofit credit counselor on the CredEvolv platform.

Even if you’re starting from scratch, letting CredEvolv help you lift your 400 credit score the right way can really set you up for success. That goes for the short term and over the long haul. It’s a journey that can take many twists and turns. But by entering into it with knowledge and help, you’re investing in your future financial health.

Remember to start small, be consistent, and follow the advice of an expert. Your certified credit coach is trained to help you manage your finances, create a budget, and develop a personalized plan to put you on the right track and keep you there. Use this expertise to your benefit before you try to improve your 400 credit score yourself.

Who knows? Maybe your 400 credit score will see the same meteoric rise as Francisco’s did!

Read more credit success stories here.

We pride ourselves on the remarkable improvements people can see in their credit scores after just a few months on the CredEvolv platform. But it’s important to remember that building or rebuilding your 523 credit score is a marathon, not a sprint. The end goal is to gain habits and knowledge that will enhance your credit endeavors for a lifetime.

Still, big results in a short period of time are a major motivator to keep going. CredEvolv client Ariel T. recently found this out firsthand!

Ariel had a 523 credit score due to late payments and new account inquiries. We connected him with a nonprofit credit counselor who removed those negative items from Ariel’s credit report. Five months later, with a credit score of 580, the 600s are within reach as Ariel continues working toward his goal of a 680 credit score.

What are credit inquiries?

When you apply for new credit, the lender will make a credit inquiry to check your credit report. There are two types of inquiries:

• Hard inquiries. These occur when a lender checks your credit report as part of the approval process for a loan or credit card. Hard inquiries can slightly lower your credit score and remain on your report for two years.
• Soft inquiries. These occur when you check your own credit, when a lender checks your credit for pre-approval offers, or when an employer conducts a background check. Soft inquiries do not affect your credit score.

What impact do credit inquiries have on a 523 credit score?

Lenders view multiple hard inquiries within a short period of time as a potential sign of irresponsibility, financial distress, or other indications of high risk. However, several inquiries related to mortgage or auto loan applications within a brief timeframe are typically treated as a single inquiry for scoring purposes, as it’s assumed you’re rate-shopping or otherwise being smart about your borrowing.

In Ariel’s case, he’s learned to be more discerning about how often he applies for credit going forward. He also understands the importance of making his loan payments on time, every time. Not surprisingly, his original 523 credit score is on the way up!

Read more credit success stories here.