Some frequently asked questions to help you understand our service more fully.
Simply put, Specialized Credit gets results! We are experts when it comes to credit reports and we know what lenders want when looking at your credit report. We can help get your credit to where it needs to be. In addition, no other organization offers so many services for such a low price. Top that off with our 100% money back guarantee; and you will find that when working with Specialized Credit, you simply can't go wrong.
When it comes to your credit and finances, you can't afford not to fix your credit! Let's take a look at the numbers.
Suppose your are going to buy a car and you want to finance a $23,000 auto loan.
$23,000 financed over 5 years:
| Credit Status | Rate | Payment | Interest Paid |
|---|---|---|---|
| Good Credit | 4% | $423.58 | $2415 |
| Damaged | 9% | $477.44 | $5647 |
| Poor Credit | 15% | $548.17 | $9830 |
The numbers speak for themselves; having a good credit rating would save you over $7400 in this scenario.
A poor credit rating on an auto loan is nothing in comparison to the effect of bad credit on a home loan. When applying for a mortgage, it used to be that a poor credit rating meant that you would be required to take a sub prime mortgage. This meant that you would pay a higher interest rate. Times have changed and the sub prime mortgage market has completely disappeared. What does that mean for those with a poor credit rating? It means that you cannot buy a home! Period. With the downturn of the US economy and housing markets, potential home buyers are left with two options: a loan through the FHA (Federal Housing Administration), or through the Government-Seized Fannie Mae and Freddie Mac. All of these institutions require a good credit rating. And even with a good credit rating you will still be required to pay a higher interest rate if your credit score is not superb. Let's take a look at an example of a mortgage loan.
Suppose you are going to apply for a mortgage and you want to finance $150,000.
$150,000 financed over 30 years:
| Credit Status | Rate | Payment | Interest Paid |
|---|---|---|---|
| Good Credit | 5.5% | $851.68 | $157,600 |
| Damaged | 6.5% | $948.10 | $191,300 |
| Poor Credit | Sorry, No Loan For You. | ||
These numbers are even more drastic; having a good credit rating would save you over $33,700 in this scenario.
Every person's credit is different, therefore the timeframes vary. It typically takes 45 days for each round of investigations to be completed. This allows two weeks for mail transit time, and 30 days for the bureaus to complete the investigation. This means that you will typically see progress within your first 6 weeks of membership. Usually several rounds of investigations are required to insure that all three bureaus are updating or removing all accounts accordingly. We can generally complete 4 rounds of credit investigations within six months, which is the minimum amount of time you should plan on for membership. Typical membership timeframes are from 6 to 12 months. There are no contracts with us, which means you can cancel anytime. However canceling prematurely can deprive you of additional updated records which consequently keeps you from your best possible credit score. It is important to remember that there are three credit bureaus that we are working with. Once we obtain an update or removal from one bureau, we still have to ensure that the other two bureaus update their records accordingly. Also, keep in mind that the Score Surge program works on both the consumer side as well as the bureau side. The results you see on the consumer side are directly tied with how quickly your can complete the recommended actions.
We stand behind our services 100%. If you do not see measurable results on your credit reports, you are then eligible for a full refund. Please refer to our guarantee for details.