Reader question: I want to improve my credit score. How much does a credit repair service cost?
Answer: It depends on what service you are looking at and what kind of features you want. Although most of the best credit repair services charge around the same price for standard services, many offer extras, which can raise the price. Here’s a quick breakdown of what you might pay for a credit repair service.
The monthly cost for credit repair services is generally in the same area. One of the best and cheapest services is Sky Blue Credit Repair, which charges $59/month. Lexington Law, another leader in the credit repair space, charges $99.95/month. (Here’s a side-by-side comparison of Sky Blue and Lexington Law.) Another trusted credit repair site, CreditRepair.com, charges $99.95/month, but they also provide more features than the standard plans from Sky Blue and Lexington Law, while our review of The Credit People shows it offers the option of a lump-sum price of $299 for 6 months of service or a monthly service for $59 a month.
Many credit repair services offer a couples discount. Sky Blue Credit Repair offers the biggest couples discount at 50%. (One person pays full price and the other only pays half.) Lexington Law offers $50 for your partner for the first month. CreditRepair.com offers $50 for both parties, as well as a $50 discount for servicemen. Both discounts are only for the first month of service.
Most credit repair services charge an initial fee to get things started. This is kind of a fee to say that you are serious before they start work on your account and to get the initial work on going over your credit report started. Sky Blue Credit Repair charges the same as its monthly fee, $59. Lexington Law charges almost double at $99.95. CreditRepair.com also charges their monthly fee, $89.95. Most credit repair services will also charge you for pulling your credit report, which is usually around $12.99.
Some credit repair services charge extra for features such as credit monitoring and identity theft protection. These are built into the price of the second tier of pricing. Sky Blue Credit Repair only offers the basics of credit repair, which is all you really need if all you want is to raise your credit score. Lexington Law offers credit report monitoring and $25,000 in identity theft protection service for their $99.95/month program. CreditRepair.com offers the same benefits, along with a mobile app, with their standard $89.95 rate, which is a good deal if that’s what you are looking for.
One thing to factor in when calculating the cost of credit repair is how long the credit repair service is going to take to complete the work. Within what the credit repair services are able to do, your credit score can only be raised so much. Some credit repair services will continue to try and raise your score, which means that you will need to continue to pay. The best way to save on credit repair is to figure out the best ways to raise your score based on your credit report, have the credit repair service explore those options, and then cut them off once those options are explored. Don’t keep paying for a credit repair service that isn’t going to raise your score any more.
A good thing to look for is a guarantee. Most services offer a guarantee that they will complete the work that you agreed upon. This doesn’t mean they guarantee to raise your credit score. It just guarantees that they’ll put in the work. If they don’t, you can request your money back. Sky Blue Credit Repair actually offers a guarantee that if you are not happy with your service in any way, they will give you a 100% refund within 90 days of signing up. We haven’t tested to see if they follow through on that guarantee, but considering they don’t have any complaints from the BBB, it’s probably a safe bet that they stay true to their word.
Advertising Disclaimer: Simple. Thrifty. Living. does receive compensation for some of the services that we recommend, although we only recommend services that we truly believe are the best.