Luster values consumers’ financial rights for fair and accurate credit reporting. We empower customers to take control of their financial well-being and improve their credit score by giving them the tools to dispute inaccuracies and unverifiable information on their credit report, without the need or expense of credit repair agencies or lawyers.
In addition to using the Luster software, we invite you to review the following information and Web sites to learn more about credit repair and credit scores.
What is a Credit Repair Agency?
Luster is not a credit repair agency. We provide you the tools to dispute inaccurate information on your credit report. While there are legitimate credit repair companies out there, there are also many that are only in business to make money off of desperate individuals.
The consumer can do most of the work provided by credit repair agencies with tools like Luster. Credit repair agencies can be very costly, even charging you legal fees for work that is actually done by someone who is not an attorney. We recommend looking at what the FTC says about how to avoid credit repair scams. Remember, only inaccurate or false information can be removed from a credit report.
Importance of Credit
Credit affects almost every significant financial decision in a consumer’s life. It’s everywhere. Lenders look into it before extending a loan. Life insurance companies review it before issuing a policy. Service providers review it before opening an account. It’s also becoming very common for employers to request a credit report when screening candidates. It simply cannot be avoided and that’s why we want you to be as informed as possible when it comes to what can affect your credit score. Take a look at the following articles that have helpful information on how to improve your credit score.
Wall Street Journal’s Karen Blumenthal explains everything you need to know about credit scores.
Jennifer Barrett of The New York Times shares the facts about credit scores.
Yahoo! Finance teamed up with Experian to draft the following article on 30 factors that influence your credit score.
MSN Money’s blog, Smart Spending warns consumers to beware of quick fixes for bad credit.
Ehow.com’s Dayna Noffke writes Credit Scores, What do they Mean?
Bankrate.com offers information on how to fix mistakes on your credit report.
Liz Pulliam Weston, author of the book "Your Credit Score, Your Money & What's at Stake,” offers ways to improve your credit score and credit mistakes to avoid on MSN Money.
Exercising Your Rights
Since your credit report and credit score are so critical, we want you to understand your rights when disputing negative items on your credit report. The three credit bureaus are (Experian, TransUnion and Equifax) required to offer customers one free credit report per year. Luster recommends ordering your free credit report at annualcreditreport.com. However, you must purchase your credit score which typically costs around $16. Luster customers can receive a discount when purchasing their credit scores here.
Understanding Credit Reporting & Credit Cards:
Luster has collected this information as an educational resource for its Web site visitors. Luster did not author, create or develop any of the information on this page.