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Frequently Asked Questions
Click any question for a full, in-depth answer — with tables, timelines, and real numbers.
Credit Scores
FICO Score Ranges at a Glance
| Range | Tier | % of Americans | Typical access |
|---|---|---|---|
| 800–850 | Exceptional | 23% | Best rates; premium cards; instant approvals |
| 740–799 | Very Good | 25% | Near-best rates; very strong approval odds |
| 670–739 | Good | 21% | Average rates; most applications approved |
| 580–669 | Fair | 17% | Higher rates; limited card options |
| 300–579 | Poor | 14% | Secured cards; most apps declined |
FICO Score Weight Breakdown
- 35%Payment history — On-time vs. late across all accounts
- 30%Amounts owed — Credit utilization on revolving accounts
- 15%Length of history — Age of oldest, average, newest account
- 10%Credit mix — Cards + loans diversification
- 10%New credit — Recent inquiries + new accounts
Good credit starts at 670, but the best rates require 740+. See exactly what every tier means for mortgages, auto loans, and credit cards.
What factors make up my FICO score?
Five factors — payment history (35%), amounts owed (30%), and three others — determine your score. Deep dive into each with optimization tips.
Why do I have different scores from different places?
You have dozens of scores. FICO alone has 50+ models. Here is why Credit Karma, your bank, and your mortgage lender all show different numbers.
Does checking my credit score hurt it?
No — checking your own score is a soft inquiry with zero impact. Only hard inquiries from lenders can temporarily lower your score.
How long does it take to build credit from scratch?
You can become scorable in 3–6 months and reach a good score (670+) in 12–18 months. Here is the fastest path from zero.
How often does my credit score update?
Your score can change any time a creditor reports new information — typically monthly. Learn how to time payments for the maximum score boost.
Credit Reports
How Long Items Stay on Your Report
| Item type | Period | Clock starts |
|---|---|---|
| Late payments | 7 years | Date of the late payment |
| Collections | 7 years | Date of first delinquency |
| Charge-offs | 7 years | Date of first delinquency |
| Chapter 13 bankruptcy | 7 years | Filing date |
| Chapter 7 bankruptcy | 10 years | Filing date |
| Hard inquiries | 2 years | Date of inquiry |
| Closed positive accounts | Up to 10 years | Date account closed |
How long do items stay on my credit report?
Most negatives stay 7 years; Chapter 7 bankruptcy stays 10. Includes the complete table and the critical 'date of first delinquency' explanation.
How do I get a free copy of my credit report?
You can now get free weekly reports from all three bureaus. Here is the only official site, plus a checklist of what to look for when you have your reports.
Why do Equifax, Experian, and TransUnion differ?
The three bureaus are independent companies that receive data from different sources. A 20–40 point spread between bureaus is normal — here is why.
Disputes & Errors
The Dispute Process — Step by Step
| Step | Action | Timeline |
|---|---|---|
| 1 | Pull all three reports and identify the error | Day 0 |
| 2 | Gather supporting documents (statements, IDs, letters) | Days 0–3 |
| 3 | File dispute with bureau by certified mail or online | Day 3–5 |
| 4 | Bureau forwards dispute to the creditor (furnisher) | Within 5 days |
| 5 | Bureau investigates and must respond | Within 30 days |
| 6 | Bureau sends results and updated report if changed | Within 5 days of completion |
| 7 | If unresolved — dispute directly with the furnisher | FCRA § 623 |
Can I dispute accurate but negative information?
No — disputes only work for inaccurate or unverifiable items. But if information is accurate, you still have options: goodwill letters, pay-for-delete, and waiting.
What is a pay-for-delete letter?
A pay-for-delete is an agreement to pay a collection in exchange for the collector removing the tradeline. Includes the letter template and critical rules before you pay.
Should I dispute with the bureau or the creditor?
Start with the bureau — but when a bureau 'verifies' without really investigating, disputing directly with the furnisher under FCRA § 623 is your next move.
Debt & Collections
Collectors CAN legally:
- Call between 8 a.m. and 9 p.m.
- Contact you by phone, mail, email, or text
- Report the debt to credit bureaus
- File a lawsuit within the statute of limitations
Collectors CANNOT legally:
- Threaten arrest for a civil debt
- Misrepresent the amount owed
- Call before 8 a.m. or after 9 p.m.
- Continue contact after a written cease request
- Threaten to sue on a time-barred (zombie) debt
What are my FDCPA rights against debt collectors?
The Fair Debt Collection Practices Act sets strict rules for third-party collectors. Violations allow you to sue for $1,000 in statutory damages per incident.
What is zombie debt and how do I handle it?
Old, time-barred debt that resurfaces from dead collection files. Never make even a $1 payment — it can restart the statute of limitations in most states.
Debt Relief Options Compared
| Option | Credit impact | Best for |
|---|---|---|
| DIY payoff (avalanche/snowball) | Positive | Manageable debt, disciplined payer |
| Debt consolidation loan | Small temporary dip | Multiple high-rate cards, decent credit |
| Balance transfer (0% intro) | Small temporary dip | Under $15k, can pay off in promo period |
| Debt management plan (nonprofit) | Minor initial negative | Overwhelmed, need structured plan |
| Debt settlement | Significant negative | Already behind, cannot pay in full |
| Bankruptcy | Severe (7–10 years) | Insolvent; last resort |
Identity Theft
Credit Freeze vs. Fraud Alert vs. Lock
| Type | Blocks new credit? | Duration | Cost |
|---|---|---|---|
| Security freeze | Yes — hard block | Permanent until lifted | Free |
| Initial fraud alert | No — extra verification only | 1 year (renewable) | Free |
| Extended fraud alert (ID theft victims) | No — extra verification | 7 years | Free |
| Credit lock (bureau product) | Yes while active | Toggle on/off via app | Free or paid |
What should I do immediately if I'm a victim of identity theft?
Every hour matters. Here is the exact sequence — freeze credit, file FTC report, dispute fraudulent accounts — in priority order with step-by-step instructions.
Does a credit freeze affect my existing accounts?
No. A freeze only blocks new lenders from pulling your report. Your existing cards, loans, and score are completely unaffected.
About This Site
Is credit repair legal? DIY vs. paid services
DIY credit repair is completely legal and free. Paid companies can do nothing you cannot do yourself — here is exactly what the Credit Repair Organizations Act requires.
Educational content only. This page is for informational purposes and does not constitute legal, tax, or personal financial advice. Results vary. Laws and bureau processes change. Consult the CFPB, FTC, and AnnualCreditReport.com for authoritative guidance. Full disclaimer