What is a Credit Score? Your credit score is a number that ranges from 300-850. This allows banks and lenders to assess your ability to borrow and pay back on time. It is an extremely important part of your financial planning. Your credit score is categorized into levels of “Excellent,” “Very Good,” “Good,” “Fair,” and “Poor.” Even if you are a single point below a certain range, you will not qualify for that level. Why does my Credit Score matter? It is almost impossible to achieve your financial goals without a good credit score. Every major financial you make from a home purchase, auto, personal or business loan and more is determined by your credit score. What is a FICO Score? Lenders use borrowers' FICO scores along with other details on borrowers' credit reports to assess credit risk and determine whether to extend credit. FICO, originally Fair, Isaac and Company, is a data analytics company based in San Jose, California focused on credit scoring services. It was founded by Bill Fair and Earl Isaac in 1956. Its FICO score, a measure of consumer credit risk, has become a fixture of consumer lending in the United States. Credit monitoring services provide consumers with estimated credit scores, not the actual FICO score that is use by a majority of the lenders. Unless your credit report & score states FICO, it’s not your actual FICO score. Why is Credit Repair Needed? Per a study conducted by the Federal Trade Commission in 2012 & including the follow up data provide in 2015, there was an estimated 70 percent of Americans that has an error(s) on their credit report. Per a study conducted by the Consumer Financial Protection Board in 2015 & 2016 there were 882,000 complaints. 95% of the complaints involved the three credit reporting agencies Experian, Equifax & Transunion. Covid-19 statistics will possibly provide a similar outcome if not more inaccurate reporting by the three credit reporting agencies and data furnishers. Does Credit Repair Work? DSC have and will continue to help all consumers on getting inaccurate information deleted form their credit report with our due diligently and strategic process. DCS has currently been successful with getting an estimated 78% of inaccurate information deleted from a consumers credit report. We have been successful by causing the removal of bankruptcies, judgments, tax liens, charge-offs, collections, foreclosures, repossessions, late payments, medical & utility bills, hard inquiries and incorrect personal information. DCS continues to be a key component on assisting a significant amount of consumers to purchase a home, auto, obtain a credit, loan, line of credit and more. What is credit monitoring? Credit monitoring is a consumer online service that is provided directly from all 3 credit reporting agencies, Experian, Equifax & Transunion. Credit Monitoring services are also provided by third party services. Financial Institutions use one of the three main credit reporting agencies to determine the risk of lending to a consumer or business. What can DeSouza Credit Services do for me? We are committed to providing you with the best support, advice, and expertise for improving your credit score. DCS will help you correct errors on your credit report, stay in control of your credit expenses, and adopt a strategy for your financial plans. Why should I trust DeSouza Credit Services? You may have heard of the large number of services which claim to improve credit scores but are actually scams. These scams often have the following traits: They will refuse to explain your rights as a client They will request payment upfront They will ask you to provide false identification They will assure you that it is always possible to improve your credit score DeSouza Credit Services is a well-established and respected firm with a reputation for effectiveness and integrity. Where and when can I meet the DeSouza team? You may visit our office at 3101 Park Blvd, Palo Alto, CA 94306 on Mondays thru Fridays between 9am to 8pm PST, and Saturday from 9am to 2pm PST. Also, you can contact us by phone at 415.787.6144.