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Last night I interviewed Gerri Detweiler, President of Ultimate Credit for the monthly Money Wi$e Women Get Smart Teleseminar. WOW! Gerri is a wealth of knowledge about everything relating to credit reports and scores. The one-hour interview went by way too quickly! I learned several things from Gerri that I want to share with you.
Continue reading "Learning About Credit Reports & Scores from Gerri Detweiler" »
Conundrum: mystery, challenge, poser, problem, riddle. I think these words fairly well describe the process of understanding one's credit score in terms of how it comes to be, and what you can do to manage and improve it.
Credit scoring is one subject that I have to admit I'm fairly puzzled by. Just when I think I'm rocking along with a great history and the scores to match, a small business loan smacks my score down because the account is too new, and affects my ratio of what I owe to what's available to me. So my scores were high enough to get the loan, but I'm penalized in "credit-land" now that I have it.
Continue reading "A Financial Minute with Jenifer: The Credit Conundrum" »
If you don't already know it -- your credit report is your financial report card. It's as important to you as the SAT is to high school students. Most of the questions I get after my opening keynote at Money Wi$e Women Conferences are related to credit reports and scores. We normally offer a breakout session on credit reports and it's usually packed. Debbie Leviton with CFA NW Mortgage has presented the credit report breakout session with great feedback.
Debbie just announced that she's offering a five-hour training on understanding your credit report and scores. The training is on Saturday, March 22 in Kirkland. To register or for more information contact Heather Russell at 425-893-8903 or email her at hnew@cfahomeloans.com.
Warmly,
Marcia Brixey
Each of the three main national credit bureaus - Equifax, Experian, and Trans Union - have announced that they will offer national freezes which will let consumers 'lock down' their credit histories. This will be especially helpful if a person is a victim of identity theft. Previous only 39 states had allowed consumers to lock down their scores.
A credit freeze stops the bureaus from issuing your credit history to a creditor who asks for it. Since few lenders will issue credit without first seeing a credit score, freezing one's credit information means identity thieves will not be able to use stolen social security numbers to illegally open new accounts.
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