What is credit analysis?

Are you planning on a major purchase like a house, car or even a credit card? Knowing your credit score and how to improve it may help you get the best rates and products. A credit analysis offered by Debt Reduction Services is a detailed review of your credit report with an action plan to reach your goals. Our counselors will go over each account and explain how it contributes to your score. The standard fee for this educational service is $49.00; however, this fee can be waived or reduced depending on household income.


How is the FICO credit score determined?

The FICO score is composed of your payment history, balance and limit, length of credit history, new credit, and credit mix. Payment history and balance and limit compose 65% of your credit score.



Payment History

Make each and every monthly payment before the due date. Doing this for as little as three months will start to rebuild your credit score.

Balance and Limit

This is the ratio between how much you owe to credit available on each account. You want to utilize as little of your available credit as possible. If possible, keep balances below 30% of the available credit. Consider this even if you pay your bill in full each month.


The time you maintain an active account. Closing accounts impact your credit score for the balance and limit as well as the time you had the account. Carefully consider closing older accounts.


You may find the term “hard inquiry” used when discussing credit reports. A hard inquiry is a request for new credit. This request along with newly established accounts over the last two years impact your credit score. The more time from when these are reported the better the score.


Your mix of credit cards, retail accounts, secured and unsecured installment loans is calculated. This item isn’t a key factor for your score and the more impactful items should be the focus for rebuilding or boosting your credit score.


What is the difference between the credit analysis and credit repair?

Credit analysis offered by Debt Reduction Services is educational and empowers you to take control of your credit. Credit repair companies offer quick fixes that may not be ethical and attempt to “fix” credit issues.


Is there a way to review my credit report for free?

AnnualCreditReport.com will provide a free no strings attached credit report from all three bureaus once per year. You will not receive your FICO score; however, you may review your report for accuracy which is paramount to calculating your score.


How do I dispute inaccurate items and errors on my credit report?

Contact each of the bureaus to launch a dispute:

All disputes are handled online by Equifax.

All disputes are handled online by Experian

By phone: (800) 916-8800
Mail: TransUnion Disputes
2 Baldwin Place, PO Box 1000
Chester, PA 19000