- What is Credit Repair Software?
- Best Credit Repair Software
- How Credit Simulators Work
- Credit Monitoring
- Choosing A Credit Repair Software
- Can I Repair my Credit Myself?
- Alternatives to Credit Repair Software
- Conclusion: Credit Repair Software
Who would have thought just ten years ago that your credit could affect things like whether or not you can rent an apartment or whether you get hired or not if your potential employers check your credit first? Then of course you have the traditional reasons why your score matters when it comes to things like getting a loan. Not only does your credit impact if you’re approved for getting a loan but the interest rate is also determined by it.
That means your mortgage could cost you a lot more money, which most people want to avoid. If your credit score is getting in the way of your goals, it’s time to start looking into credit repair. A potential solution is using a credit repair software. People that want to work on their credit score, but need outside help could benefit from using repair software. So, what is the best credit repair software? Let’s dive in and find out!
What is Credit Repair Software?
Credit repair software is a technology that’s designed to help people repair their credit score. Credit repair works by helping consumers remove negative items that are on their credit report (which is the basis of how a credit score is calculated) and analyzes their personal credit so they can solve their credit problems by targeting the reasons the users have these issues.
There are many companies that provide this credit repair software where people have successfully used it to repair their credit. Unfortunately, some credit repair businesses have marketed their software as being able to achieve unlikely results. For example, a credit repair company that advertises that their software will “Fix all of your credit problems and raise your FICO score by 300 points” can’t actually do this for all their users. You should work with a professional credit repair company that is trustworthy and reputable.
The credit repair services offered by these software providers are also very different. That’s why it’s important that people read the fine print before paying for credit repair software programs. Especially if you are unfamiliar with how credit repair works, it can feel overwhelming to know what’s the best credit repair software for use. That’s why we’ve put together this guide to the best credit repair software that’s out there. Use these recommendations to point you in the direction to research credit repair software to consider to assist with your search for the right credit repair software.
Best Credit Repair Software
Credit repair software can be found with different functionality and be placed in different categories. Some repair software will do almost everything for you while others will help you fix credit errors by work with you to settle disputes at the credit bureau. And still, there are others that will even help track your credit score so you can on top of changes that may have occurred on your credit reports.
You can expect to pay more for a credit repair software program that does more to provide you with credit aid. These recommendations will vary by the prices and credit repair services that they provide. But you’ll be able to identify the personal credit repair software that best fits in your budget and functionality needs.
Experian is also one of the three major reporting agencies. Experian Boost claims to be able to raise your FICO(R) credit score for free and instantly. Consumers who use Experian Boost increase an average of 13 points in their FICO Score 8 according to their reports. Now, Experian Boost is actually not credit repair software.
It works by giving you access to nontraditional credit references (your phone and utility bills). You just need to link your bank account to Experian Boost so that Experian can look over your bank statement history and find those positive credit entries. These bills must be paid on time in order for your credit to increase.
You also get access to your Experian credit report, FICO score, and their credit monitoring and alerts. The best part is that Experian Boost is free to use. People who would benefit the most from using this product from Experian are those with little credit. Keep in mind that these credit score increases do not apply to credit reports and scores that the other two credit bureaus, Equifax and TransUnion offer.
Personal Credit Builder
This is one of the best credit repair software solutions for consumers that need help removing negative items that are affecting their credit scores. Personal Credit Builder will actually automate part of the process of disputes from all three major credit bureaus. You should start to see results in about 30 days.
Personal Credit Builder is a Windows-based credit repair software that allows you to import your credit reports from all three bureaus. Then it will automatically generate the dispute letters that you need to send them. Creating credit dispute letters on your own can be a hassle so having Personal Credit Builder to it for you makes the process more seamless.
You can get Personal Credit Builder for $199.97 during their current promotion period. The best type of person for this credit repair software is someone who has simple credit issues as a result of credit reporting errors or has been a victim of recent fraudulent activity. If your credit score issues steam for things like charge-offs or other advanced credit problems, it will take longer to see an increase in your credit score. But that’s going to be the case with any type of professional credit repair.Click Here To Get Started
Credit Repair Cloud (previously Credit-Aid)
Are you thinking about getting into the credit repair business? Credit Repair Cloud, which was formally known as Credit-Aid is actually a tool intended for a credit repair professional. This web-based software works by allowing you to download credit reports and create dispute letters for your customers. Another added benefit of Credit Repair Cloud is you also get a website that can be branded to your business.
Other notable features of using their credit repair business software are:
- Send credit reports via an encrypted method of your client
- Receive updates about your disputes and history your client’s credit score and improvements
- Affiliate portal that can be run inside the system to build referrals
- Marketing tools such as business card creation
- Automated Billing
Credit Repair Cloud comes with a 30-day money-back guarantee trial. There are four pricing tiers in their repair software: 1. Start Plan ($179 per month for up to 300 clients) 2. Grow Plan ($299 per month for up to 600 clients) 3. Scale Plan ($399 per month for up to 1,200 clients) 4.(Enterprise Plan ($599 per month for up to 2,400 clients)Click Here To Get Started
Another option for those in the credit repair business is the system offered by ScoreCEO. They offer all-in-one credit repair business software for your business and clients. ScoreCEO allows a credit repair company to streamline its process for many different aspects of its business.
It’s also the first credit repair software provider to offer a business application for social media generation. Companies can use this tool to help team members post on their social media accounts information about their business and expertise.
The features and pricing depend on the plan you pick. They have a plan starting at free to their Advanced plan that’s $299 per month. You also have a 30-day money-back guarantee period to try ScoreCEO and decide whether it’s the best credit repair software for your business.
The best credit repair software doesn’t have to empty out your pockets. TurnScor offers very robust software at a price tag of only $40. This credit repair software program will help you monitor your score from all three major credit bureaus. That way you have a handle on your credit information.
Using TurnScor’s software program you can also file a dispute letter that goes to the credit bureau using their dispute letter templates. TurnScor’s credit repair software is easy to use and the interface design uses a race theme that’s fun for users.
You do have to do more work in the process of credit repair with TurnScor than more expensive software. For example, you’ll have to manually fill each one of your letters. But since their software program is easy to use, this isn’t going to be an issue for users. People who have poor to fair credit and want to improve their credit over months or years in a steady fashion are the best customers for TurnScor.Click Here To Get Started
Available in English and Spanish, Credit Detail is one of the few credit repair software programs that are bi-lingual. Its repair software isn’t the most user-friendly system that’s out there. Credit Detailer works by helping you find credit reporting errors and fixing them. They give you access to templates that can be used in your disputes and can be sent it the credit reporting bureaus.
Credit Detailer makes the process of fixing credit reporting errors automated so you won’t be spending all your time manually filling out information. Being in business for over 15 years, Credit Detailer has earned a reputation in the credit repair industry as one of the most trustworthy companies.
You can purchase Credit Detailer for $399, though they do often offer promotions. If you’re interested in offering your own credit repair service, they also have professional repair software that can handle all your client needs. If you need more information on Credit Detailer because you commit, they offer 7 days to try out their credit repair software.Click Here To Get Started
When it comes to accounting software and tax prep, while there may be some alternatives out there, most people think Turbo Tax. But did you know they also offer credit repair? The company is best known for its accounting software but does offer some credit repair services with its Intuit Turbo product. Intuit offers to help people improve their credit for free. Their system is not credit repair software and you’ll need to lean on additional credit repair support to fix your credit problems.
The company has a very user-friendly platform that gives access to all the information about their credit through its monitoring. If you spot errors and need to reach out to the credit bureaus, Intuit Turbo can’t help you. But since the company offers it for free, there’s not really any downside to using it. You get access to your information at your fingers on your mobile device so know when there’s been a change to your score.Click Here To Get Started
You won’t be able to use Credit Karma to dispute items on your report like incorrect tax liens or charge-offs. But you will be able to keep track of your score by using their credit monitoring and credit simulator. What’s really nice about Credit Karma’s software is that it’s very easy to use and how it simplifies managing your personal credit.
A credit report looks like an eyesore that anyone who isn’t a banker will have trouble picking up on all the information that’s found. But their software presents the report in a simple format that anyone can understand.
Plus you’ll get Credit Karma’s credit simulator. We’ll explain this type of software program later, but essentially it can simulate various events to tell one how their credit might be impacted. The software is free so people who want to monitor their score and receive their TransUnion and Equifax report should consider it.Click Here To Get Started
Credit Repair Magic Software
Rounding out the credit repair software programs that we recommend is Credit Repair Magic Software. Their personal credit repair software is coined a “self-directed” program that will educate and assist you on your journey to credit repair. Think of it as having your own personal credit coach as the software guides you through the credit repair process.
Using their Automated Software System, you don’t have to write any of the dispute letters. This will streamline the credit repair process and improve your dispute letter management. Separating itself from others in the credit repair industry, Credit Repair Magic Software also has a 60-day money-back guarantee. Pricing may vary based on promotions, but you can currently get all the features and functionality for $97.Click Here To Get Started
How Credit Simulators Work
Credit simulators have only recently become available and are very handy for people that want to understand how certain actions will impact your score. One example is how a late payment in your payment history could affect your credit score. Other events credit simulators might be able to stimulate include what happens to your credit score if you lower your credit usage, open or close a new credit card account.
Knowing what could happen to your score beforehand will give you some insight before taking an action. If you’re thinking about heading to some car dealerships but want to see how adding a car loan will affect your score, a credit simulator is a great information tool.
Credit monitoring is like having a personal assistant who watches over your credit. They can be used to keep track of various credit scores (depends on the credit monitoring service), gives you access to your credit report, and sends you alerts anytime there’s a change to your accounts. One example is if there is a new credit card account that’s opened in your name, you can get alerted.
Keeping you up to date on your information allows you to keep on track and maintain healthy credit. Many others have found it useful to help in the prevention of identity theft and fraud.
Choosing A Credit Repair Software
We’ve discussed several credit repair software options, but you still might not be sure which one to choose. Let’s look at the key factors your choice should come down to below.
You don’t necessarily want to break your bank account when choosing credit repair software. Selecting the one the best fits your financials and goals is important. Credit repair software is an alternative to working with a credit repair company that often charges using a monthly subscription model. Instead, you generally pay a one-time fee for repair software.
The features offered by repair software may vary from company to company. Choose the one that will help remove the things from your report that you need help with whether that’s late payments, collection accounts, a judgment, negative items, etc. Additionally, the software should provide you with step-by-help guidance on how to use it. Video tutorials are particularly valuable.
All of the repair software companies that we’ve outlined are trusted and respected within the credit repair industry. If you’re considering a credit repair service that’s not on this list, make sure to do the research, such as looking at their reviews, to find out what type of reputation they have.
A software program that you must reveal your personal information should follow the best cybersecurity practices out there. Make sure there are safeguards in place to protect your information like encrypted software.
Having excellent customer service is necessary when it comes to repairing your credit. The process is often long and complicated so you want resources available to you when you need to talk to someone.
Can I Repair my Credit Myself?
It’s entirely possible to repair your credit by yourself. It might be more challenging since you won’t have the benefit of having assistance from software or a credit repair expert. Repairing your credit can take a long time, depending on your situation. But it’s well worth it for the benefits like lower interest rates on loans, getting approved for a mortgage, etc. Who knows, you might even realize you’re great at it and decide to start your own credit repair business! Either way, if you’re looking to repair your credit on your own, below are some things you can do that will enable you to fix your credit over time.
Review your Credit Report
If you have a low credit score, the first thing you should do is the same thing as many credit repair software do. That is get a copy of your credit report from all of the bureaus. Review them to find errors and report them immediately to the bureau. They typically have 30 days to research your dispute and either verify that it is correct or remove it from your report.
Make your Payments on-time
Lenders view your payment history as the most important aspect of your financial life. Nothing will get you off track faster than missing a few payments. You can set up alerts on virtually all your bills to remind you before it’s due whether that’s through a company’s app/website or using the calendar function on your phone. Better yet, set up auto-payments so you never have to remember when a bill is due.
Lower your Credit Utilization
Using a high percentage of your credit limit will make it difficult to increase your score. Credit utilization is the second biggest factor in how credit scores are calculated. So lowering your credit usage, which also reduces your debt, is another focus point. For example, if you have a credit card that a limit of $1000 and you use around $600, your credit utilization is 60%. It’s best to keep your utilization as low below 30%.
Alternatives to Credit Repair Software
There are some other ways you might be considering to help with your credit. Here are some things to consider when determining if these routes might make sense for you.
Debt consolidation allows you to pay off your other debt (credit cards, student loans, personal loans, etc.) using one loan. Interest rates on a debt consolidation loan might be more favorable than your current debts. You don’t have to worry about making payments on your other loans on time anymore since it’s used to pay them off.
Using debt consolidation might be able to help improve your credit score, but it’s not a solution. You’re basically buying time to pay off your debts and potentially lowering your interest rate in the process. Debt consolidation may help you if you are debt that you either can’t handle or making your finances challenging. Credit repair service or software will provide you with tools to manage your overall credit and improve over time.
Filing for Bankruptcy
This is a tool for debtors who want to get out of debt as a last resort. The process of bankruptcy is very complicated and not everyone is eligible for one. There are also many different types of bankruptcy and each has different scenarios.
Filing for bankruptcy also leaves a long-lasting negative statement on your report. Depending on the circumstances, bankruptcy could be removed but you may need to hire legal help to get it done. Generally speaking, it won’t help you improve your score by filing for bankruptcy.
Conclusion: Credit Repair Software
The process of credit repair can be a long road. Take the time to determine what goals you want to accomplish and how much support you need along the way. Credit repair software is a tool for those DIYers who might want a little bit of hand-holding along the way. As you begin seeing improvements, you’ll be even more satisfied with choosing credit repair software.