If you currently have a bad credit score, you might be looking for ways to improve it. The good news is that a credit repair company is skilled at doing exactly that. With a credit repair company, you may be able to get a significant improvement to your credit, especially if that bad credit ends up happening because of errors in your credit report. Here are four things to look for so you can find the best credit repair companies for your needs.
- Monthly Fee
The first thing to look at is the monthly fee associated with a specific credit repair company. Many of the cheaper credit repair companies have around the same monthly fee, although you may be able to get a higher tier to get even more options. It’s best to sit down and see what your family may be able to afford for a credit repair company every month, then use that dollar amount as your guide.
- Setup or First Work Fee
It’s extremely common for credit repair companies to charge a “setup” fee or a “first work” fee. These are fees that are only charged once when you sign up for the credit repair company in the first place. However, they can be very high, up to as much as the monthly fee. If you’re interested in signing up for it, it’s important that you either factor this setup fee into your budget or look for a company with few fees.
- Number of Disputes Available Per Month
Most people will be able to get by with just a few disputes per month, but if you have a lot of credit cards, loans, and other bills, you may need more disputes every month to ensure that all of these things are reported appropriately. Remember that disputing a credit report with all three credit bureaus will typically use three disputes, so incorporate that into how many disputes you think you’ll need per month.
- General Credit Report Monitoring and Alerts
Most credit repair companies will incorporate general credit monitoring and credit score alerts into their credit repair services. However, it’s important to see how often the credit repair company will check your report, as well as how they’ll alert you when there’s something new to look at. Credit repair companies that have an app may make it easier for you to check your credit score no matter when it is or where you are.
A credit repair company can be a great tool for many people who currently have bad credit. Because credit is a crucial component of signing up for new credit cards, getting loans, and even getting approved for an apartment, you need to make sure that your credit score doesn’t have marks on it from things that weren’t even your fault. With these four elements, you can make sure you’re choosing the right credit repair company for your needs.