Financial experts tell us that only around 40% of consumers have what is called Prime Credit standing in the industry, meaning that their credit scores from all of the three major credit bureaus are at or above 700. This kind of credit score should be everyone’s goal, since having a score of over 700 means that your score will not be negatively affected by many of the things which can damage a lower score, such as inquiries and late payments.

If you?re one of the 60% of consumers who have a credit score of less than 700 from the three major bureaus, then lenders will look at you as an increased risk and will set interest rates accordingly. With a score under 700, it’s also a lot harder to predict what will affect your credit score and whether there will be a positive or a negative impact. When you apply for a loan, you may find your credit score suffering even if you are approved!

The whole credit bureau system is designed to keep your scores below the 700 score so that it maximizes profits for everyone you do business with. If you are below 700 than you need a fast score system that works for you and not the other guys who are sucking your hard earned income day by day without you even knowing it.

One of the tricks for not raising any red flags about your credit is to never go into debt more than 25% of your annual net income. Your tax returns and/or accountant can give you an idea of what your net income is if you don’t all ready know. So be wise when putting something on credit. Make sure it’s a sound investment that you really need or will use.

The credit reporting system is inherently corrupt mainly because of who profits from it. Consumer groups for years have been lobbying for reform and in 2004 congress approved the Fair Credit Reporting Act that required credit bureaus to follow certain procedures which in the end did nothing as to the accuracy of the information. The whole credit system is still corrupt or at least unfair because the consumer is guilty until proven innocent. And by the way, it’s still a mystery if the regulators are actually enforcing the laws.

Let’s suppose that your credit score is 600. You apply for a loan and whether your application is denied or accepted, you’ll lose 35 points off of your credit score! If your score was 700 or above, this wouldn’t be the case. You can avoid all of these roadblocks by using a fast score system to get your score over 700.

You should be very careful about credit repair services as well. While they can indeed have some of the negative items on your report removed, be aware that this can actually lower your credit score. If your credit score is under 700, you’re better off not removing these items at least not right away. Instead, add new accounts in good standing to balance out the negative items. Your concern should be improving your credit score instead of simply making your report “look” better.

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