Not all of us are blessed to have excellent credit throughout our lives. Bad things happen to good people that are beyond their financial control.
When you get underwater with your credit rating, it’s nice to know credit repair services could help you repair it.
Pinnacle Credit Repair, also known as Pinnacle Credit Management and Pinnaclecreditrepair.com, uses artificial intelligence to fix your credit rating quickly.
Depending on what’s causing your bad credit, this service could improve your credit score dramatically within months.
What is Pinnacle Credit Repair | PinnacleCreditRepair.com?
Pinnacle Credit Repair is a credit repair company that takes a different approach to the credit repair process.
Pinnacle uses its proprietary software program to identify and delete negative items from your credit report with all three credit bureaus.
These sorts of deletions can increase your credit score quickly — assuming the negative items are the source of your bad credit.
Pinnacle Credit Management advertises a lower upfront cost with no need for an ongoing monthly fee.
However, this claim can be misleading. Even though the upfront cost guarantees a month of work, your FICO score may not have improved enough by the end of the first months. In that case, you will be charged a monthly fee to keep the work going.
In fact, your subscription will continue automatically unless you cancel your account.
What does Pinnacle Credit Reapir Offer?
The basic operating idea behind Pinnacle Credit Repair involves using artificial intelligence to scour through your credit report rather than having staff members analyze your credit history.
Pinnacle’s proprietary computer system syncs with all three credit reporting agencies (Experian, Transunion, and Equifax) looking for specific irregularities or reporting errors in your credit files.
Then, it issues an immediate dispute against those irregularities.
This repair model really could generate results more quickly than the traditional credit repair process which requires mailing letters, waiting for responses, and mailing more letters.
In fact, your credit score could increase drastically within a month or two. In that case, you’d be a happy customer because you’d likely save money compared to one of the other best credit repair companies.
Limits of the Credit Repair Process
Before you sign up for Pinnaclecreditrepair.com or any other credit repair service, you should know what these companies can and can’t do.
No legitimate credit repair service can guarantee you’ll have good credit once you sign up. A company can guarantee that it will work hard on your behalf. It can guarantee you’ll be a priority. But if you see a company offering miracles, it’s probably a scam.
Pinnacle Credit Management states clearly that it doesn’t guarantee a good credit score. If you have legitimate negative items in your credit — late payments, charge-offs, bankruptcies, or repossessions, for example — Pinnacle can’t help you much.
But if your negative items come from inaccuracies and errors, Pinnacle and any other legitimate credit repair company can help.
Most consumers do have mistakes dragging down their credit scores. These mistakes either come from closed accounts reported improperly, or mistaken collections that were paid on time.
Pinnacle is set up well to clean out these kinds of inaccuracies. It is possible you could see a drastic increase in your score if Pinnacle gets these items deleted right away.
Bottom line: If you have bad credit because of bad decisions in your recent past, a credit repair program won’t be able to help very much.
PinnacleCreditRepair.com Service Options
Pinnacle Credit Repair offers two different tiers of service:
Pinnacle’s Fast Track program is entirely automated. The software system interacts with all three credit bureaus on your behalf until you cancel your account.
No contract is required because this service is fully automated. Pinnacle estimates its Fast Track Program will need three to six months to complete.
With this service you pay $199 the first month, which includes a first-work fee, and then $99 a month until you cancel. These prices are current as of 1/18/21. We’ll get more into costs below.
Fast Track Elite
The Fast Track Elite program is a lot more expensive, but it offers a one-time, upfront payment rather than a subscription-based monthly fee.
And this service comes with 120-day money-back guarantee.
Pinnacle Credit Management states that, within the first 15 days, you’ll see an average of 80% of your disputed credit issues deleted.
The Fast Track Elite option also includes a credit mentor who can guide you through rehabilitating your credit.
A credit mentor is like a personal credit guru who has the inside track on many different loans and credit options, including auto loans and bank loans.
The price of this service may surprise you. It currently ranges from $1,500 to $2,500 depending on your case.
More about Cost: How Much Does Pinnacle Credit Repair Charge?
Where most companies offer their services on a subscription basis, Pinnacle Credit Repair states its fees come as a one-time payment.
This is not entirely true. Both the Fast Track and Fast Track Elite option have a singular upfront fee. However, you’ll likely need to keep paying a monthly payment of $99 a month if you want to get the most from the Fast Track option.
Fast Track Elite will never require an ongoing monthly fee, but it’s upfront fee is a lot higher than any other legitimate credit repair company’s charges.
Fast Track Pricing
The Standard program involves a single, one-time payment of $199, which begins the process of cleaning your credit and runs for one month.
This initial fee includes the first month’s work and the set-up fee which most companies call a first-work fee.
You can continue the process with an additional $99 per month afterward if you want to attempt rehabilitating your credit score.
Fast Track Elite Pricing
The Fast Track tier is so much more expensive but the sticker shock makes more sense when you stop to consider the benefits.
This service costs between $1,500 and $2,500 for the complete service, starting with an initial payment of $199.
The Fast Track tier offers a 120-day money back guarantee as well as a personal credit mentor who can directly connect you with lenders and educational materials to help you keep your credit clear.
Here’s some context which may make this exorbitant fee seem a little more reasonable.
If you use a traditional service like Lexington Law which may charge about $130 a month for an entire year, you’d be paying $1,300 — not too much less than Fast Track Elite’s lowest range.
Still, I wouldn’t want to commit to this price level unless I knew for certain Pinnacle could deliver a huge rise in my FICO score.
Unfortunately, credit repair just can’t offer this kind of promise.
Is Pinnacle Credit Repair Safe?
If you go by the reviews online, Pinnacle Credit Management is safe. It’s entirely forthright on its site about what can and can’t be done to improve your credit rating. It is not a scam.
And Pinnaclecreditrepair.com follows all the rules and regulations credit repair companies must follow by law.
Pinnacle Credit Management also states it notifies customers of their rights within the Credit Repair Organizations Act. This law explains that a credit repair company cannot guarantee precise results. It is obligated to inform customer results will vary.
Most of the independent reviews from customers online are positive, which gives the company an above-average score for reliability. And, independent reviewers such as Consumers Advocate and TrustPilot also rate the company quite high.
Pros and Cons of Pinnacle Credit Repair
- Fast: Either the Fast Track or Fast Track Elite level of service offers a quick way to repair your credit score that’s hindered by inaccuracies. The Fast Track version anticipates results in 60 days. The Fast Track Elite level expects results within 15 days.
- Personal Credit Mentor: The Fast Track Elite option gives you access to a personal credit mentor who works as a conduit connecting you to loan providers, banks, and credit card This mentor can help you get approved for a new loan while you’re still working on re-establishing your credit score.
- Expensive: Pinnacle’s upfront, first-work fees are more expensive than most credit rehabilitation services. And the Fast Track Elite service is costly by industry standards, though it provides quick service with a personal touch. Pinnacle’s advertising of a ‘single upfront cost’ is also misleading. Both services have an upfront cost, with either a single remaining payment (Fast Track Elite) or monthly payments (Fast Track) until you cancel.
- No Free Consultation: Many services let you talk with an expert, either via phone call or online chat, before you sign up. That way you’ll better know whether or not a credit repair service can help you. Pinnacle doesn’t.
Do-It-Yourself Credit Repair is Another Option
If you need credit repair but you’re not quite ready to commit to hiring a professional, you could try to do your own credit repair project.
Start by getting your free credit reports from all three credit bureaus at annualcreditreport.com. You’re entitled to a free credit report once a year from each bureau.
Read over these reports in search of inaccuracies that could be hurting your credit score. You should dispute inaccuracies.
For example, if you’ve paid off your student loan but it still shows a balance due, you’ll need to dispute this entry with the credit bureau that shows this mistake.
By law, credit bureaus have to investigate legitimate disputes of negative items.
If you have accurately reported negative items pulling down your score, you can’t dispute these negative items, but you can negotiate with your creditors for goodwill adjustments.
Or, if you still owe past-due balances, you could agree to pay off your balance in exchange for the creditor removing its negative information.
I have posted throughout this blog about these processes, and I invite you to use the search box or the menu above to find exactly what you need.
With enough time and patience, you can rehabilitate your own credit score. But it won’t be easy. Within a few months, you’ll know the phone numbers of all three credit bureaus by heart.
That’s why so many people — if they can afford the fees — opt for professional credit repair companies like Pinnacle.
After all, the money you save in interest charges on credit cards, mortgages, and personal loans can far exceed the fees of a credit repair company.
Credit Monitoring Prevents Credit Repair
Credit monitoring is another must when you’re working to build and maintain good credit.
Keeping an eye on your credit score every month means you’ll notice big changes before you apply for borrowing.
This kind of service can prevent the inaccuracies from destroying your credit score because you’ll know about them before they can hurt you as much.
You’ll be less likely to need a credit repair company like Pinnaclecreditrepair.com.