PadSplit is Raising Your Credit Score

June 22, 2020

Did you know you can improve your credit score with PadSplit? While PadSpit is not a credit repair company, we do report on-time membership payments to credit agencies, like our trusted partner Esusu

Last week, Esusu shared some exciting findings with us. Between January of 2019 and January of 2020, the average PadSplit member’s credit score increased by 49 points. Overall, 68 percent of PadSplit members’ credit scores increased or remained stable after becoming members. Some even saw increases of 102 points. Considering how difficult it can be to raise your credit score, triple-digit increases are no small feat! 

We also saw small upticks in members’ credit scores after PadSplit reported their on-time payments. While these small gains may not be able to make up for larger declines, they prove that PadSplit’s credit reporting is helping our members’ overall credit health. We 

If you’re looking for ways to help boost your credit score, we’re here to support you and want to provide you with the information you need. 

The fact of the matter is, repairing your credit takes time and good financial habits. Unfortunately, many credit repair firms will offer shortcuts that don’t work or are actually illegal. The FTC warns against consumer credit “repair” firms that: 

  • Insist you pay them before they do any work on your behalf
  • Tell you not to contact the credit reporting companies directly
  • Recommend you to dispute information in your credit report — even if you know it's accurate
  • Encourage you to give false information on your applications for credit or a loan
  • Don’t explain your legal rights when they tell you what they can do for you

A reputable credit counseling agency should send you free information about itself and the services it provides without requiring you to provide any details about your situation. If a firm doesn’t, consider it a red flag and look elsewhere for help. 

For more information about how to improve your credit score, check out our trusted partner Esusu and learn simple ways you can save for your future.

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