Peoples Credit Services FAQs

What is the difference between a Fico Score and other Credit Scores?: Fair Isaac Company developed the FICO Score which is the most widely used credit score in the Mortgage Lending, Automotive, Insurance and Credit Card industries. There are many other scores that simulate the FICO Score but will almost always score differently, in most cases higher. This may sound great until your credit reports are run with the FICO Score and you qualify for less than you originally thought you could based on simulated credit scores. Be safe, only order credit reports that state they are using the FICO Score.

Will an inquiry be placed on my credit report?: Yes, an inquiry will be placed on your credit report but it will be a soft inquiry. Soft inquiries have no direct affect on your FICO scores and will not be visible to creditors.

Do I have to access my credit reports through PCS?: No, but there are disadvantages to this. As a member of PCS, you receive discounted services and other benefits. In addition, we cannot guarantee that the credit reports that you have accessed will contain the FICO scores and not simulated scores.

What is Annualcreditreport.com?: The FACT Act of 2003 made it mandatory for the each of the credit bureaus to provide one free credit report a year to consumers. If you are only curious about your credit, this is a great place to go. If you want to see your FICO Scores, only one of the three (Equifax) will provide it if purchased. The other two bureaus utilize a different scoring model that will almost always vary from your FICO Score.

Why order all 3 credit reports and FICO scores?: Most companies use a minimum of two and often all three credit reports and FICO Scores to determine a financial approval. Often your middle score is what will determine your approval so without ordering all three reports and scores, it will be impossible to determine where you stand.

Why should I monitor my Credit and FICO Score?: This is a great product for people who have a lot of business transactions. A simple score reduction could have monumental effects on your next financial transaction. Keeping an eye on your credit and FICO Score will assure that nothing detrimental is being placed on your credit to diminish your FICO Score.

We live in a world today where your identity has extreme value in the criminal world. Believe it or not, identities are sold over the internet and purchased around the world. Within minutes of your identity being stolen, criminals can have immediate access into your credit files and personal life. Credit Monitoring will alert you when there are changes to your credit file and help prevent your credit and identity from being stolen.

What does a credit consultation cover?: It is not uncommon for people to look at their credit reports and think they are looking at a foreign language. Credit reports can be difficult to interpret and our Credit Specialists have years of experience working with consumers to help them understand their credit reports and what they might be able to do to obtain the highest possible FICO Scores.

What if I find an error on my credit report?: Our Credit Specialists will assist you with the process of making corrections to your credit reports. This may entail assisting with your online process of notifying the credit bureaus of the error and go as far and a conference call to the creditor explaining the error. PCS does not do credit clearing or credit restoration and will not dispute credit with the credit bureaus.

Does PCS negotiate debt reduction?: NO! PCS differs from credit consulting companies that focus on reducing debt. Our goal is to reduce your debt by increasing your FICO Score and thus helping you qualify for lower interest real estate loans, auto loans, insurance rates and lower interest credit cards.

Can't I just ask my friend in real estate to explain my credit report?: No offense to real estate professionals but you wouldn't come to us for real estate advice anymore than you should go to them for credit advice.

What does a credit score mean to me?: FICO Scores have become one of the foremost items used in most financial decisions. The higher your score, generally the lower your costs will be. Maintaining healthy FICO scores can save you tens of thousand of dollars over your lifetime not to mention countless headaches.

What if I don't use up all of my consultation time?: PCS will keep a file that will contain your minutes used. You are free to use those minutes anytime within your years membership in 15 minute increments.

What if I need additional consultation time?: Additional Consultation time can always be purchased. Of course, members receive 50% off of the retail cost.

Do you offer Free Credit Reports?: No! Remember, nothing is Free! This is simply a tactic used to get you to commit to a company. They know that it is unlikely that you will cancel your subscription and in the long run you will end up paying for your "FREE" credit report. PCS chooses to take the up front and honest approach and let you know exactly what you are purchasing.

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