Credit Scores & Reporting
Credit1Solutions Guide to Understanding and Improving Your Credit
Your credit score and credit report are essential to your financial life. Whether you’re applying for a mortgage, car loan, security clearance, or even a rental, lenders and decision-makers rely on your credit data to judge your reliability.
At Credit1Solutions, we help clients across the United States understand, improve, and protect their credit through legal-backed strategies and compliance-based analysis.
What Is a Credit Score?
A credit score is a three-digit number that reflects how likely you are to repay debt. It’s calculated using your credit report data and helps lenders determine:
- If they should lend to you
- What interest rate to offer
- What terms to set
Most Common Types of Credit Scores:
- FICO Score (used by 90% of lenders)
- VantageScore (used by some credit apps & educational reports)
Score Ranges :
| Score Range | Meaning |
| 800+ | Exceptional |
| 740-799 | Very Good |
| 670-739 | Good |
| 580-669 | Fair |
| <579 | Poor |
What Affects Your Credit Score?
The exact formula depends on the scoring model, but here’s a breakdown of what usually matters most:
- 35% – Payment History (on-time payments vs. late or missed)
- 30% – Amounts Owed / Utilization (how much of your available credit is used)
- 15% – Length of Credit History
- 10% – New Credit / Inquiries
- 10% – Credit Mix (loans, cards, mortgages)
What Is a Credit Report?
A credit report is a record of your financial history as reported by creditors and compiled by Credit Reporting Agencies (CRAs):
- Experian
- Equifax
- TransUnion
- (and specialty CRAs like LexisNexis, Innovis, and RentBureau)
It includes :
- Open and closed accounts
- Payment history
- Balances and limits
- Collection accounts
- Public records (e.g., bankruptcies)
- Hard inquiries
How to Check Your Credit Report (and Why You Should)
Under federal law, you’re entitled to one free report per year from each bureau at AnnualCreditReport.com.
Check your credit for:
- Errors or outdated information
- Accounts you don’t recognize (possible fraud)
- Derogatory marks like collections or charge-offs
- Credit utilization red flags
Credit1Solutions can help you challenge inaccurate or unverifiable items under the FCRA.
Common Credit Score & Reporting Mistakes
- Reporting paid accounts as still owing
- Duplicating collection accounts
- Showing late payments that were never late
- Re-aging old debts
- Listing accounts you never opened
These can all be disputed and corrected. Credit1Solutions uses FCRA & Metro 2® compliance to challenge negative or false data.
Credit Scores, Employment & Security Clearance
Credit isn’t just about borrowing. Your credit report can impact:
- Federal job approvals
- Security clearance eligibility
- Housing and insurance rates
- Interest on loans and credit cards
Don’t let outdated or inaccurate information ruin opportunities. We offer nationwide dispute services for consumers, military personnel, and contractors.
FAQs About Credit Scores & Reporting
How often should I check my credit report?
At least once a year, and after major changes (like paying off a debt or applying for a loan).
What’s the difference between a credit score and credit report?
A credit report is your financial data file. A credit score is a number calculated based on that file.
Can Credit1Solutions help fix my credit report?
Yes. We provide legal and compliance-based dispute services nationwide, challenging inaccuracies under the FCRA, Metro 2®, and case law.
Ready to Take Control of Your Credit?
Call 877-782-7839 or
Email CS@credit1solutions.com
Nationwide Service
HQ: 5284 N Dixie Hwy, Elizabethtown, KY 42701
