Poor credit is not where many would like to be. It can be quite frustrating because it could potentially affect a lot of things. This is why it is not so farfetched for someone to want to hire a hacker to fix their credit score.
A low credit score could make it harder for you to get access to some things. Here are a few of those things:
- It would be hard for you to open a credit card, except if you get a secured one that involves you putting your own money up as your credit line.
- Loans (house loans, personal loans, and so on) will be more expensive for you because you are more of a risk, according to the banks, so they will charge you more interest.
- Renting an apartment would be a chore because they would check your credit score.
- It might be hard for you to get a job as well.
It is obvious that having a high credit score is an important part of being an adult and leaving a stress-free life. The next important piece of knowledge that will help here is to know exactly how credit scores are calculated.
How are credit scores calculated?
Back in the 1950s, two Stanford Students named Fair and Isaac created a computerized credit scoring system for companies back then. Their “FICO” scores became a thing in the ’80s and it continues to be the most popular credit score system until today. FICO scores are calculated using the following factors:
- What your payment history is?
- How much money do you owe?
- What kinds of debts do you have?
- What is the age of your account?
- How often do you apply for new credit?
Out of all these listed factors, the most important is your payment history. how quickly do you pay your bills? This is the simplest way to improve your credit score. Now, what happens when your credit score is really poor and you need to improve it in the quickest way possible, and you are thinking, maybe hire a hacker?
Why it is not a good idea to hire a Random hacker to fix credit score
There are many forums and websites that advertise hiring a hacker to improve credit scores. All you need to do is pay their price and the hack is on. That sounds like a good idea, but there are a few things to consider here that might not make it such a good idea after all.
There is a major risk of identity theft
Credit hackers sound like the answer to all your prayers, a quick fix that will make everything okay. Assuming that was true, for that person to do their job, they would need access to very personal information about you. Your full name, account numbers, address, social security number.
You are creating a perfect situation for your identity to be stolen, or for your credit to be further ruined if they decide to do that. Even if they do help you fix your credit, they will still have all that data about you and they could decide to use it anytime.
That hacker story is probably too good to be true
These days, it is not uncommon to see several stories of white-hat hackers coming to the rescue of individuals with low credit scores on finance blogs and websites. The truth of the matter is that many of these stories are not true. They are probably posted there by individuals that are looking for unsuspecting people to scam.
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What you should do to improve your credit score
If you really do need to improve your credit score, there are better ways to go about it. You can try to improve it by yourself through some simple ways. Here are some of them:
- Look out for errors that may be bringing your scores down. This is not common but it is always good to check. If you notice any error in your report, let the credit bureau know about it so it can be corrected.
- You can also hire a legitimate credit repair company that will work within the law to repair your credit. The credit protection bureau has outlined some rules that credit repair companies must follow. If you find any company that is willing to abide by these rules, you might want to get them on the payroll.
- A good idea would also be for you to do the work yourself. Do the things that improve your credit score like paying your bills on time, and using older accounts instead of new ones.
- Hire a certified and trusted hacker to help you fix your credit score.
Good credit does not usually happen overnight, but it can be improved if you put in the work. Consistently do the things that are required and watch your credit score soar.
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