Great news for consumers with shaky credit scores who need some help: a recent national survey revealed surprisingly positive data about the efficacy of responsible credit repair services.
In fact, this nationwide survey found that 58.6 percent of US consumers who hired a credit repair firm and paid for their services received at least a 75-point boost to their FICO score.
To put that revelation in perspective, a 75-point score increase can bring your credit score from 650 (below average) to 725 (well above average and considered “A” credit). With a scale of 350-850, 75 points is a boon to most consumers who are trying to qualify for a mortgage so they can buy a home, finance an auto loan or other loans, apply for a new job that checks credit, or just want to save money.
Even more pressing is the need to protect your credit, identity, and financial security in the wake of unprecedented data breaches and ID theft hacks.
Not only did this data shock the analysts who conducted the survey, but the news was even more glowing for consumers who used a legit and legal credit repair firm. The study found that 48.1 percent of consumers who hired a credit repair service AND stayed with them for more than six months saw a credit score increase of 100 points or more. That would bring your mediocre 620 score to a prime 720 FICO!
In fact, the most common range of credit score increase was 100-149 points, with 26% of respondents – more than one in four – claiming that sizable of a bump.
The downside wasn’t as low as you might think, as only 12 percent of survey respondents (one out of 8 consumers) reported a credit score increase of 24 points or less.
This is how their credit score increase data played out:
+149 points = 8 percent of respondents
+ 100 to 149 points = 26 percent of respondents
+75 to 99 points = 17.2 percent of respondents
+51 to 74 points = 22.6 percent of respondents
+25 to 50 points = 18 percent of respondents
+0-24 points = 8.2 percent of respondents
But it wasn’t all rosy news, as some consumers expressed frustration or negative experiences with their credit repair firms.
In fact, 12 percent of the study’s participants felt that the credit repair company they hired was operating with practices that were “borderline illegal” or “shady.” Additionally, 25.8 percent stated that their credit repair firm kept them on as a client longer than necessary and 18.6 percent said that it was difficult to cancel the services.
Of course, there are good and bad actors in any industry, but it’s even more important to enlist the help of a trusted, legit, and legal credit repair company. For that reason, Blue Water Credit operates with full transparency while abiding by all national credit repair and reporting laws and regulations. We have an impeccable track record and pride ourselves on our 5-star customer service and results!
Keeping a great credit score is more important than ever these days, and this new study proves just how effective it is. But don’t just take our word for it – contact Blue Water Credit today for a complimentary credit score evaluation and experience the difference for yourself!