Credit Score Mastery

⚠️ IMPORTANT DISCLAIMER: This guide is for educational and informational purposes only. It does not constitute financial or legal advice. Credit improvement results vary by individual circumstances. Always consult with qualified financial advisors or credit counselors before making financial decisions.

1. Understanding Your Credit Score

Your credit score is a three-digit number that represents your creditworthiness to lenders. In the US, the most commonly used scores are FICO scores, ranging from 300 to 850.

FICO Score Ranges

The Three Major Credit Bureaus

2. The 5 Factors That Determine Your Score

1. Payment History (35%)

2. Credit Utilization (30%)

3. Length of Credit History (15%)

4. Credit Mix (10%)

5. New Credit (10%)

3. Common Credit Score Myths Debunked

4. Your 90-Day Action Plan

📅 90-Day Credit Score Improvement Timeline

Days 1-7: Foundation Week

Get all three credit reports from AnnualCreditReport.com
Sign up for free credit monitoring (Credit Karma, Experian, etc.)
List all errors found on reports
Calculate current utilization on each card
Set up automatic minimum payments
Create budget using included tracker

Days 8-30: Dispute & Optimize

Send dispute letters for all errors (templates included)
Pay down highest utilization cards first
Request credit limit increases (no hard pull)
Become authorized user on someone's good account
Set up payment reminders 5 days before due dates
Stop all unnecessary credit applications

Days 31-60: Accelerate Progress

Follow up on dispute letters if no response
Pay cards down to below 30% utilization (10% ideal)
Consider debt avalanche or snowball method
Open secured card if score still below 600
Negotiate pay-for-delete on collections (if any)
Continue all positive habits from Days 1-30

Days 61-90: Solidify Gains

Re-check all three credit reports
Celebrate improvements (average gain: 40-100 points)
Fine-tune utilization to optimal levels
Consider product changes on existing cards
Plan long-term credit strategy
Set up systems to maintain improvements

5. Disputing Errors on Your Credit Report

Common Errors to Look For

Dispute Process

Sample Dispute Letter Template

[Your Name]
[Your Address]
[City, State ZIP]
[Date]

[Credit Bureau Name]
[Credit Bureau Address]

Re: Dispute of Inaccurate Information

Dear Sir or Madam:

I am writing to dispute the following information in my credit file. I have circled the disputed items on the attached copy of my credit report.

This item [identify item disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.] is [inaccurate or incomplete] because [describe what is inaccurate or incomplete and why]. I am requesting that the item be removed [or request another specific change] to correct the information.

Enclosed are copies of [use this sentence if applicable and describe any enclosed documentation, such as payment records and court documents] supporting my position. Please investigate this matter and [delete or correct] the disputed item as soon as possible.

Sincerely,
[Your signature]
[Your printed name]

Enclosures: [List what you are enclosing]

6. Advanced Strategies for Rapid Improvement

Credit Utilization Hacks

Dealing with Negative Items

Collections Accounts

Late Payments

Monthly Budget & Debt Tracker

Income

Source	Amount	Frequency	Monthly Total
Primary Job	$_______	_______	$_______
Secondary Income	$_______	_______	$_______
Other	$_______	_______	$_______
Total Monthly Income			$_______

Credit Account Tracker

Account	Balance	Limit	Utilization %	Min Payment	APR
___________	$_______	$_______	_____%	$_______	_____%
___________	$_______	$_______	_____%	$_______	_____%
___________	$_______	$_______	_____%	$_______	_____%
___________	$_______	$_______	_____%	$_______	_____%
Totals	$_______	$_______	_____%	$_______	-

Debt Payoff Strategy Planner

Choose Your Method:

☐ Avalanche: Pay minimums, then extra to highest APR (saves most money)
☐ Snowball: Pay minimums, then extra to smallest balance (psychological wins)

Extra Monthly Payment Available: $_______

Priority Order:

Account: _____________ Target payoff: _______
Account: _____________ Target payoff: _______
Account: _____________ Target payoff: _______
Account: _____________ Target payoff: _______

7. Maintaining Your Improved Score

Monthly Maintenance Checklist

Long-Term Best Practices

The 850 Credit Score Habits

Never miss a payment (set up autopay)
Keep utilization below 10% (ideally 1-5%)
Keep oldest cards open forever
Have a mix of credit types
Limit new applications to 1-2 per year
Monitor reports monthly
Dispute errors immediately

When to Apply for New Credit

Your Credit Score Progress Tracker

Date	Experian	Equifax	TransUnion	Actions Taken
Start: ____	_____	_____	_____	Baseline scores
Day 30: ____	_____	_____	_____	________________
Day 60: ____	_____	_____	_____	________________
Day 90: ____	_____	_____	_____	________________

Credit Score Mastery

Table of Contents

1. Understanding Your Credit Score

FICO Score Ranges

Exceptional: 800-850

Very Good: 740-799

Good: 670-739

Fair: 580-669

Poor: 300-579

The Three Major Credit Bureaus

2. The 5 Factors That Determine Your Score

1. Payment History (35%)

2. Credit Utilization (30%)

3. Length of Credit History (15%)

4. Credit Mix (10%)

5. New Credit (10%)

3. Common Credit Score Myths Debunked

❌ Myth: Checking your own credit hurts your score

❌ Myth: You need to carry a balance to build credit

❌ Myth: Closing credit cards improves your score

❌ Myth: Income affects your credit score

❌ Myth: Paying off collections removes them