A: That’s a common misconception. Most of your bills are not reported, even though you pay them on time every month. This is exactly the reason we created OnlyTrust – to make sure you get the credit you deserve!

A: All positive payment data builds your credit profile from which potential lenders will weigh your credit worthiness. However, it’s up to you, as a responsible consumer, to pay your bills on time and to fulfill all payment obligations to those which provide services to you.

A: That is why we are helping you. Having a positive (good payment experience) trade-line on your credit bureau may have a very positive effect on your credit score and your ability to get credit. Clients who stay with our program and adhere to it may see their ability to receive credit enhanced, particularly those who pay their bills on time and fulfill all payment obligations to those which provide services to them.

A: Yes! You will see OnlyTrust as a trade-line on one or more of the credit bureau reports.

A: You can sign up as a Member on our website right now. It's easy and takes about five minutes, we will begin reporting your trade-line with our next cycle (usually the 15th day of each month).

A: The amount of your letter of credit is determined by the budget representing your non-reported monthly obligations. OnlyTrust, LLC typically sets a maximum amount of $5,000.

A: It is a good idea to update your budget periodically especially if there have been substantial changes to your monthly obligations – although you are not required to do so.

A: In the event an audit is commenced or as a result of our own customer information gathering initiatives, we may require certain forms of identification from our members.

A: Between 60 and 120 days.

A: That is completely up to you. You can cancel at anytime it's totally up to you.

A: If your spouse is also in need of strengthening their credit report, then you might consider signing them up too. It is never too early for a young adults to start building their credit history.

A: If you and your spouse or you as an individual are only paying partial payments with another individual only include the amount that you yourself pay personally and your spouse will get credit for whatever they pay individually. Example: Rent $1000/month, you and your spouse or an individual pay equal amounts, put $500 on your monthly budget.

A: We report individually. You should only use the amount you personally pay when filling out your budget.

A: We do not share your information with anyone for outside marketing purposes, but we do share information with our affiliates and direct business partners. We may be required to furnish certain information with the credit bureaus to ensure your file is accurately updated. Please refer to our Privacy Policy for additional details.

A. No problem. We’ll keep reporting to the credit bureaus as long as you’re a member. You will need to update your Member Profile on our website to ensure we have accurate information on you. This will help avoid any errors when reporting your data to the bureaus.

A: No. We allow you to cancel the service without penalty or obligation at any time.

A: In order to participate, you must be at least 18 years old.

A: It is important to understand that OnlyTrust:

• Is not a financial institution.
• It is not a lender.
• It is not a credit repair company.
• It is not a credit or debt consulting company.

It IS an alternative credit solutions company.

A: Through future advertisement sales.

A: We do not order credit reports for Members. The Fair Credit Reporting Act (Section 604) prohibits the credit bureaus from furnishing credit reports to third parties for any reasons outside of the FCRA definition of "permissible purposes" which include determination of credit worthiness, underwriting of insurance, and employment screening. As mentioned earlier, there are a number of services available online whereby you can pull your own credit report within minutes.

A: That’s exactly what we’re trying to doing. The OnlyTrust letter of credit tradeline is one of the best ways to rebuild credit and improve your credit scores. However, it’s up to you, as a responsible consumer, to pay your bills on time and to fulfill all payment obligations to those which provide services to you. We are also looking into other products (secured credit card, prepaid debit cards, etc) for our Members which will be a benefit to your credit file. Be sure to check back with us!

A: You Credit Score is a number that reflects your risk level, as an individual consumer, as determined by a scoring model or formula. The higher the number, the lower the risk will be to the lender. As you apply for increased credit or attempt to make a purchase, the lender will check your ability to pay back that loan. The more negative marks you have on your credit report, the less likely you will be granted the loan or purchase you requested. The score generally ranges from 350 (lowest) to 850 (highest).

Your Credit Score is used by anyone loaning you money. Credit card companies, home equity lenders, auto loan lenders, finance companies and even some employers all use a model created by Fair, Isaac and Co, the San Rafael, California company that pioneered credit scoring 40 years ago and dominates the field today. This score is most often known as FICO and serves as a snapshot of your credit history.

A low score can raise the price of your loan and a very low score can mean denial of your loan completely. Here are the approximate percentages that determine your FICO Score.

• Payment history (35%). The largest factor determined on your FICO score is your basic payment history. The number of unpaid bills you have, any bills sent to collection, bankruptcies etc... The more recent the problem, the lower your score.
• Outstanding Debt (30%). Are your cards maxed out? High balances or more precisely, balances that are close to your credit limit can negatively effect your score. Keep your balances below 30%.
• Length of your credit history (15%). How long have your accounts been open? The longer, the better.
• Recent inquiries (10%). Every time you apply for credit of any kind, you create an inquiry on your credit report. Lots of Inquiries negatively effect your score.
• Types of credit in use (10%). Current loans from finance companies. How many and how much.

As your score increases, your credit risk decreases. Exact numbers differ by lending institution but the average high approval score is 680 or above. Often times your score is taken from all three credit reporting companies and the middle score or average score is used. Depending on the lending institution, your score can cost you. Some lenders will charge a higher interest rate if your score is below 600.

When you apply for credit your score does not come directly from FICO. Instead each bureau has its own version of the rating system with its own name.

A credit score of 680 or above can save you money, especially for home loans. If you are considering a significant loan you will want to be sure to check your credit reports first. If negative items appear on your report you have two choices. Live with it for 7 to 10 years or dispute these items.

A: Most credit grantors are not allowed by the credit bureaus to show you your own credit report. However, under the Fair and Accurate Credit Transaction Act you may be entitled to receive a free credit report. You can go to www.annualcreditreport.com to check availability. If you want to see your credit score you will have to purchase it. There are a number of services available online which will allow you to pull your credit bureau within minutes. Some are free of charge; others charge for their services. Although many of these providers have excellent reputations, OnlyTrust does not endorse any particular organization offering these services.

A: Credit reports contain a listing of some or all of your credit accounts that have been active at some time within the last 7 years. They also contain any public records (Chapter 7 bankruptcies are reported for 10 years), current and previous addresses, current and previous names, a listing of potential creditors who have received your credit file and other miscellaneous information the credit bureau has about you. Each account listing generally has your account number, the credit limit, your current balance and your previous payment history. This payment history can contain notes of late payments, any collection or transfer history, whether the account was included in bankruptcy and the current payment status of the account.

A: Lenders, property managers, insurance companies, prospective employers, companies which you presently have a credit relationship with and anybody with a permissible purpose who wants to know who you are can get access to your credit file. In many situations your credit report will actually become your identity. People will know you not by who you are, but by what is reported about you from the credit bureaus. Obviously, those reports can be extremely damaging especially if they contain incorrect, misleading or obsolete information.

A: The three sets of rules are not consistent in identifying who may issue a credit. Article 5 clearly contemplates that almost anyone may issue a letter of credit, with two exceptions. First, UCC 5-102(9) excludes from the category of "issuer" an individual who makes an engagement for "personal, family or household purposes." UCC 5-102(9) is one of the non-variable provisions, so a proposed issuance of a credit by an individual should be handled with great caution because of the difficulty in establishing whether a credit is for "personal" purposes. Second, UCC 5-102(10) excludes from the defined term “letter of credit” a credit issued for its own account by an entity that is not a "financial institution."

ISP98, on the other hand, does not even define "issuer," and although the drafters seem to have assumed that an “issuer” would be a bank, there is nothing within ISP98 that is inconsistent with the notion that a non-bank may issue a standby credit subject to ISP98.

A: The concept of Letters of Credit goes back hundreds of years, primarily as a means to ensure payment of goods and or services. By contrast, stand-by letters of credit have come into use in the last forty years or so and are primarily used to provide third-party credit support. The term “credit” used in the Terms and Conditions refers to the term "Letter of Credit." The Uniform Customs and Practice for Documentary Credits (UCP) is a set of rules set by the International Chamber of Commerce on the issuance and use of letters of credit. The International Standby Practices 1998 (ISP98) are rules designed to facilitate the domestic and international use of standby letters of credit. OnlyTrust’s Terms and Conditions were constructed by using UCP 600 and ISP 98 as practical guidelines. ISP 98 is a product of the institute of International Banking Law and deals with the standby credits. ISP 98 was used as reference only.

A: Issuer is the entity or organization issuing the LOC on your behalf. In this case, OnlyTrust, LLC, an Idaho limited liability company is the Issuer.

Disclaimer: OnlyTrust, LLC is neither a financial institution and does not lend money, nor is it a credit repair company, credit consulting / counseling company or debt relief company. Refer to the Terms & Conditions.

LOC Number: A document number assigned to the letter of credit for the benefit of OnlyTrust, LLC Members.

Revocable: The terms of the letter of credit can change for any reason at the sole discretion of the Issuer.

Applicant: The applicant is defined as the individual applying for membership to OnlyTrust, LLC and for the revolving standby letter of credit. Your name and address will show on said letter of credit.

Beneficiary: The individual and/or creditors who are guaranteed payment or performance in the event of a default.

Amount: The total of the OnlyTrust, LLC monthly budget you filled out representing your monthly obligations which are in good standing and not being reported to the credit bureaus. OnlyTrust, LLC sets a minimum amount of $300 and a maximum of $5,000 for most Members.

Expiration date: The date on which the letter credit will become ineffective. OnlyTrust, LLC letters of credit are issued for a period of one year from the date of issuance. Oftentimes, there are automatic renewal terms, subject to good payment history of the Member.

Revolving: Means as long as the Member pays their monthly obligations per the Terms & Conditions, the Revocable Letter of Credit amount will revolve each and every month.

A: Letters of credit can be either revocable or irrevocable. A revocable letter of credit is one which may be cancelled or the terms changed or modified at any time for any reason by the Issuer without prior notification.

A: The revolving payment standby letter of credit is issued to assure the beneficiary the performance of the applicant obligations. Although the functionality exists, the parties involved in a standby payment letter of credit do not typically expect that the letter of credit will ever be drawn upon.