Credit, Made Simple
A free, no-jargon guide to how scores are built, what's on your report, and the rights every consumer has. Brought to you by TailorMade Solutions.
Education only · Not credit repair · Not financial adviceWhat Goes Into Your Score
Payment history
Whether past bills were paid on time. Late payments can weigh on a score.
Amounts owed
How much of your available revolving credit is in use (utilization).
Length of credit history
How long your accounts have been open, on average and oldest.
Credit mix
The variety of account types, such as cards and installment loans.
New credit
Recently opened accounts and recent hard inquiries.
Reading Your Report
Personal information
Name, addresses, and employers on file. This does not affect your score, but errors are worth checking.
Accounts (tradelines)
Credit cards, loans, and their balances, limits, and payment status.
Inquiries
Hard inquiries from applications and soft inquiries, such as checking your own credit.
Collections and public records
Accounts sent to collection and certain public records such as bankruptcies.
Credit Myths
Checking your own credit hurts your score.
It does not. Checking your own report is a soft inquiry.
Closing old cards helps your score.
Usually not. It can lower your available credit and shorten your history.
You have one credit score.
You have many. Different models and bureaus produce different numbers.
Paying a collection removes it.
Paying does not automatically delete it from your report.
Your income is part of your score.
Income is not on your credit report.
You need to carry a balance to build credit.
You do not. Paying in full can still build history.
Your Rights (FCRA)
Free reports
You can get free credit reports at annualcreditreport.com.
Free disputes
You can dispute inaccurate information with the bureaus yourself, at no cost.
Investigations
Bureaus generally have about 30 days to investigate a dispute.
Time limits
Most negative information can be reported for 7 years; some bankruptcies for 10.
Straight Answers
Is TMS Credit Academy a credit repair service?
No. This site is education only.
Can accurate negative information be removed?
Accurate, timely information generally cannot be removed from your report.
Can I dispute errors myself?
Yes. You can dispute inaccurate information with the credit bureaus yourself for free.
Do you promise a score or timeline?
No. No specific score, result, or timeline is promised.
Is this financial advice?
No. It is general education, not financial or legal advice.
Are you a lender?
No. TMS Credit Academy is not a lender and does not offer credit.
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