Credit Hash uses the most advanced and comprehensive method to rank credit repair companies. Majority of ranking agencies use either purely qualitative or inadequate quantitative methods. Our methodology reduces the subjective aspects of ranking into quantitative evaluation. When it comes to financial planning, and credit repair specifically, you should make sure you rely on sources and services that use the most comprehensive and unbiased approach.
Ranking of credit repair services is neither a single variable nor a linear analysis. Many factors have to be considered. These factors should be quantified and inputted into the ranking system. This evaluation method is multivariate in nature. This analysis is also non-linear. Most ranking systems out there use old linear weighted average methods, which can be quite inaccurate. For example, if a service quality drops by half, the value shouldn't only drop by half. It should drop close to zero, since that level of service is completely worthless. This non-linear analysis helps you find the best services in the industry.
What Variables Enter Into Our Ranking?
Multiple factors are considered as variables for evaluation. Below we have listed few of the most important factors that separate best credit repair companies from others.
First and foremost is what the credit repair company offers. Various service packages contain different features, which not only differ by package within the company but also from one company to the other. As such, features are considered in a relative manner through a comparison table for all top competitors.
Another factor entered into our analysis is the benefits. The benefits determine which features are of value to customers. A service package may include a lot of features, but unless those features provide great value to the customers, they will not receive a significant weight in the ranking system.
Customer service is one of the parameters that are highly non-linear, meaning that its impact is huge on the valuation of the service. Getting prompt, direct to the point, and personalized answers to your questions provide an ease of mind that's invaluable.
No doubt that when in process of fixing your credit, price is always a factor in your mind. However, considering the great impact of credit score on your life, the value offered for the price should be considered as well. That's why the more accurate parameter in consideration is price-to-value ratio.
Every day that you live with a bad credit score is a day that you are paying higher interest rates or denied access to loans or mortgages that you deserve. So speed of service is a metric that weighs into our overall ranking system.
Some consider reliability as part of customer service, but we put responsiveness and customer service in a separate category than reliability. Reliability is a metric more related to the quality of answers you receive as opposed to turn-around for an answer. Can you rely on the experts when an unexpected problem arises? Are they diligent in following up and resolving issues or preventing them proactively?
Another parameter is what is offered through official or semi-official rating platforms such as BBB rating. It's worth mentioning that mere existence of a complaint against a company shouldn't be considered as a negative factor, but the way that company handles issues determines its true quality of service.
No one wants to be treated like a commodity. We live in an era that we can personalize and tailor any service to our needs. The need for personalization is felt even more when it comes to financial problems. Everyone's credit repair issues are different. It's important that any service or solution is customized to the specific needs of the customer. This metric is one of the most important factors in customer satisfaction. As such, it weighs heavy in our ranking considerations.
Guarantees and Warranties
This metric enters into our ranking analysis although with a lesser impact. Greater the quality of service, the less will you have to rely on guarantees offered.
Our methodology is both multivariate and non-linear. While most quantitative scoring systems use a simple weighted average approach, we relay on a more advanced ranking system, as discussed above.
Our process assigns a value to each metric that is properly normalized and it's inherently non-linear. For example, a service that is half as fast as another service is not valued as half. It's valued far less. These metrics are then entered into a decision matrix evaluation system that ranks services and determines the best credit repair companies out there.
It's our goal to not only provide you with the most accurate and unbiased rankings, but also make sure that they are up to date. We live in a fast-paced and ever changing environment, so no evaluation is valid indefinitely. That's why we frequently measure these metrics and re-evaluate our ranking based on new information.