Credit Coaching by Kristi

In today's episode, Credit Kristi will share some essential facts about credit for those yearning to learn more about credit basics. Your coach shares some truth from her continuing education course for her Certified Credit Counseling certification where you can learn more about FICO® and credit basics in general. Questions@creditkristi.comBuy the Finish Financially Free Book from Amazon here: https://a.co/d/04MdykF

Have you ever had an inquiry on your credit or got a call from a creditor asking questions about your credit application - but you didn't apply for a new line of credit? What do you do? Listen in as your credit coach shares how to add language of fraud to your profile, freeze your credit and even introduce you to identity theft protection. Questions@creditkristi.com

Are you getting a tax refund this year? I see where many people go splurge the few thousand they get back from overpaying in federal income taxes.... but what if you could make a really powerful move with your money? What if you paid off some debt, started that emergency fund or even started a retirement account?! What could this mean for the future version of you? Will they be ecstatically thanking you for being wise and thoughtful?! Glean a few ideas from your Credit Coach on how to improve your credit and your financial profile!Questions@creditkristi.com

What is Financial Independence? And is it possible for me? Listen in as your credit coach explains the 6 steps to financial independence. Hint: it does include debt management, and that is a BIG part of what keeps people from achieving their goals, because they are paying debt rather than saving and building.Questions@CreditKristi.com

Many people have not discovered their relationship with money. Often created at a very young age through our environment and experiences. But what if you had a traumatic event in your life? Your parents lost their home to foreclosure? A divorce left you penniless? A job loss or illness struck- numerous things can cause a traumatic experience and now be related to money. Listen in as Priya Kumar of Pivot my Profit shares from her knowledge and expertise. priya@pivotmyprofit.com Questions@CreditKristi.com

Want to make REAL change in your financial life this new year? Let's go! Listen in as your credit coach gives some ideas and suggestions on how to make real and lasting change in your credit. Make more than a dent- smash that debt this year and let 2025 be the year you got OUT of credit card and consumer debt and make big strides towards your bigger goals. Questions@creditkristi.com

Social media makes anyone able to present themselves as an expert on any topic they select. Unfortunately, there is a TON of really poor information out there that simply isn't true. Not knowing might waste time or cost you money or unnecessary stress. Share a little time with your credit coach to bust some myths, learn what is TRUE about credit and better understand the rules. Questions@CreditKristi.com

Unfortunately, companies like National Debt Relief are spending a ton of money getting in front of people that carry debt to manipulate and deceive you into believing their debt settlement program is the relief you have been seeking. They are the last resort- please don't work with a debt settlement if you can try other options first. Your credit coach explains 3 other options to try prior to debt settlement, including Credit Counseling agencies. Check out National Foundation for Credit Counseling first: https://www.nfcc.org/ Questions@CreditKristi.com and please give me a review!

What other time of the year takes so much out of us- financially and otherwise?! Don't let gift giving pull you down! Make plan, be ready, take some precautions and DON'T max out your credit cards! Questions@CreditKristi.com

Is your significant other's credit profile and score causing some tension in the relationship? In addition to the obvious of having to pay higher interest or not qualify for financing at all due to lower scores, there could be an emotional component to your partner having poor credit profile that is bringing you down in multiple ways. How do you have a conversation about money and credit and behaviors and actions? Carefully- that's how! Listen in as your coach gives you some practical guidance on how to approach the conversation and set up some boundaries to work your way through it in order to create an actionable plan! Questions@creditkristi.com

Have you heard of the term "credit sweep" or credit washing? I hadn't either until recently. Not only does it sound too good to be true- it's illegal! Please be careful with "quick fixes" as they often aren't what they might appear to be. If someone is saying they can remove derogatory items from your credit report- be cautious! Questions@creditkristi.com

The Big Credit Bureaus are selling your information - and they are making bank by doing so! Listen in as you Coach shares 2 ways to protect your information from being sold to companies who want to know your profile and solicit to you. Questions@creditkristi.com for questions or show ideas https://www.optoutprescreen.com/ to opt out To freeze your credit: Experian.com Equifax.com Transunion.com https://www.innovis.com/

Have you wondered, what is worse? Bad credit or no credit? Listen in to learn what "the decision makers" when it comes to extending credit want to see. Questions@creditkristi.com

Let's listen in to some additional details regarding zero percent balance transfers on credit cards. Questions@creditkristi.com

Credit card balances are at the highest level in history. In fact, over $1.115 TRILLION is the current outstanding credit card balances for Americans! 1 in every 5 credit card holders are "maxed out" meaning they have greater than 90% of their limit as a balance. APRs are also the highest we've seen, ever! What is going on and what can we do about it? Questions@CreditKristi.com

There is a very important term in finance called Debt Ratio. You should have an understanding of what it means, what it says about you and your spending/debt load, and why it's important to keep it in check. Whether you are thinking about and preparing to buy a home or just want to figure out your debt levels and adjust what's not working in your life, understanding your DTI (Debt To Income) Ratio is an important one to know! Questions@creditkristi.com

As a mortgage broker, I see the entire financial picture of someone applying for a loan. That is what drove me to start this podcast over 4 years ago, is because time and time again I would spend time coaching people on what to do to improve their credit so they can qualify for a mortgage. The #1 reason for mortgage declines is insufficient credit. Listen in as your credit coach breaks it down as to what is needed, how to improve your credit and what underwriters for the lender is looking for to issue an approval. You will also learn the #2 reason and how it is calculated. Questions@creditkristi.com www.buildanagent.com for newer Realtors

Have you applied for a credit card and then found out... you were denied?! There are various reasons that could be the culprit, so listen in to your credit coach as Kristi shares some of the top reasons for not being approved if you applied for a credit card. Questions@CreditKristi.com

I am hearing from a lot of people that they are carrying large credit card balances forward each month, not intentionally, but because the cost of living is so high. Listen in (if this is you, you are not alone) and hear some suggestions on what to do about it. Check out this cost of living calculator: https://www.bankrate.com/real-estate/cost-of-living-calculator/ Questions@creditkristi.com

Looking for some quick tips to improve your credit ASAP? I got you! Listen in to learn best tips to improve (or build) your credit profile quickly. Some of the places Coach Kristi references: To pull your free credit report: https://www.annualcreditreport.com/ Self.inc for the credit builder account: https://www.self.inc/blog/what-is-a-credit-builder-loan Reporting rent through Self.inc: https://learn.self.inc/lpg/mpa/rent-bills-landing/?_gl=1*1igfd3o*_gcl_au*ODQ1NTA0NzY3LjE3MTE5ODY3NDE. Experian Boost: https://www.experian.com/consumer-products/score-boost.html Questions@CreditKristi.com

As a matter of protection, I recommend you freeze your credit. What does it mean to have your credit frozen? How does it benefit me? What if I need to access my credit? What if I am a victim of fraudulent activity? Listen in as your credit coach breaks it all down for you. To freeze your credit, set up an account with each credit reporting bureau and once set up and logged in, look for "freeze my credit" to place the freeze. That's it! Equifax.com or 800-349-9960 Transunion.com or 888-909-8872 Experian.com or 888-397-3742 To Opt-Out of "pre-approved" credit offers like credit cards and personal loans that come as junk mail, unsolicited, go to OptOutPreScreen.com and by entering your info, you will be excluded from that list of sold information to creditors for 5 years. Questions@CreditKristi.com

Are you desiring to grow and expand your business? Needing financing opportunities and a great business credit profile? Listen in as your Credit Coach interviews business credit expert Christi DiCenso of JGalt. This knowledge can help your business optimize cashflow, manage growth and create a great business credit score so you don't have to personally back lines of credit (which can hinder business growth and potentially hurt your personal credit). christialie@jgalt.io for email jgalt.io/Christiallie website 407-865-4557 direct cell

So many people reach out to me asking how to start credit, how to improve their credit, or tell me they don't understand what it takes to have a great credit profile. Let's fix that today! Listen in to learn the rules of the game and to win at this thing called credit profile. You want to show up with a high credit score so you can qualify for the best interest rates available when it comes time to finance the purchases you may be looking to get a loan for like a car or a home. Questions@creditkristi.com

As I round out my fourth year of providing insight and updates, I am sharing information from the Federal Reserve Bank of NY with their report of Household Debt and Credit. Also ideas and suggestions for managing debt. Check out my books on Amazon! Finish Financially Free and First Home: Where to Start and How to Win. questions@creditkristi.com https://www.newyorkfed.org/medialibrary/Interactives/householdcredit/data/pdf/HHDC_2023Q3.pdf?sc_lang=en

Have you ever wondered just how much of an impact interest can have on your payments and cash flow? Listen in as Credit Kristi compares car and house payments due to the difference in available rates due to credit scores. Have any new year goals (we don't do resolutions here, just goals!) for yourself? If not- why not?!!? If so, are the BIG!? They should be! Let's goooooo! Questions@creditkristi.com

I am asked more about collections than any other credit topic. The majority of the time is what to do with collections, what happens if I dispute it, what happens if I try to talk with the creditors, and what do I need to know to help in situations with collections. Listen in as your credit coach explains what you need to know, what affects your credit the most when it comes to handling collections, to help position your credit profile as best as possible. Questions@creditkristi.com

D. Saul is a credit expert. He had started off fixing his own problems, then became so well versed solving issues for his friends and family, that he got into credit repair. He shares his wisdom and gems with us in this episode. And connect with him! D.Saul's connection contacts: Fix Your Own Credit For Free!! | Facebook https://creditrepairhacks.page/pages/free D. Saul - YouTube

If you have student loans, you know that they are going back into repayment status. What's unfortunate is many people have moved or have new contact info, so is the new loan servicer even able to track you down to start collecting your payment? Because Navient isn't servicing federally backed loans any longer! Who you paid in the past may not be who you will be paying now (ohhhh, and I just thought about this, what about fraudulent scammers???). Listen in to learn some national statistics and also how this will impact your credit report. Check out my newest book! Finish Financially Free: https://a.co/d/0c7SBZc Questions@creditkristi.com

Looking for quick way to build a credit profile or improve an existing one? THIS is my #1 tip to quickly bring your score up with being added as an authorized user of an existing, good standing credit card. Your credit coach will share the details on how this can benefit your profile from adding debt utilization, long standing history and adding to your credit mix-quickly!! And without a credit inquiry! Questions@creditkristi.com

Are you headed off to college or care about someone who is? Listen in as your credit coach shares about the challenges of starting new credit, warnings about getting tripped up with new debt and bills, and some ways to cautiously begin your credit and money management journey. Questions@creditkristi.com

What Does money and marriage have in common!? If you are married, you are already listing the ways! Money management is one of the most important factors in a healthy marriage, and it necessary to work through together. 22% of divorces in the US list money as the predominant cause. Money is intimate, sensitive, and required to discuss in a healthy marriage. Listen in as your Credit Coach drops some knowledge when it comes to money and marriage. Questions@creditkristi.com

Brief overview about collections, and how medical and non-medical collections differ. What impact does a collection have on your credit profile? questions@creditkristi.com

Dave Ramsey teaches a lot of great information. He has helped millions of people get out strangling debt and has done a lot of good! But, is Dave right on everything? There are a few items he and I don't see eye to eye on. Not saying he is wrong (nor would I ever accuse him of being stupid like the does some other people) but just sharing a different perspective to consider on debt, credit and saving for a home. Questions@creditkristi.com

Have you ever stopped to think about what you believe to be true about money? Likely not, most have not. So we live into what we think we know, but it is actually keeping us stuck, likely broke, and confused about why we can't make our money work more powerfully for us. Listen in as your credit coach breaks down how to question what you believe about money and how to create a new, positive relationship money. questions@creditkristi.com

Transunion puts out a report each quarter showing stats and trends.... I know... yawn. But it can be very telling to see what kinds of trends are out there with new credit card accounts, balances, and new personal loans. Friends, it looks a little scary to me. Balances are up almost 15%, new cards are up over 20%, and new personal loans are skyrocketing. We know why- the cost of living is out of control, inflation is for real, incomes are not increasing in sync with what it costs to survive. It's a problem and the data is showing what people are doing. We are relying more and more on debt to help make ends meet. But it's going to cost in the form of interest and fees. Slippery slope. questions@creditkristi.com

How can you win a game that you don't know the rules of? Learn how to play the credit reporting bureau's games by knowing some basics. Questions@creditkristi.com

Let's talk about the money beliefs which creates our habits which creates our predicaments! Where we find ourselves with our credit and money situation is often a result of what we believe to be true. But what if, just what if what we believe isn't actually fully true? What if those beliefs were someone else's beliefs and you aren't meant to keep them. Let's talk about it. Questions@creditkristi.com

If you have looked into credit repair, you have likely come across (or even worked with) Lexington Law and CreditRepair.com. I believe Lexington Law is the largest credit repair company in the nation. The Consumer Financial Protection Bureau has a lawsuit against them and some major changes are unfolding (not to mention large sums of money on the table due to false statements made by Lexington to it's clients. Questions@creditkristi.com

Have you applied for a loan or a credit card and were declined? Wonder what to do now? What happens with that information? Who knows about this besides you and the creditor? Is it reported someplace that will come back to haunt you? I remember all of those fears and thoughts when I have been declined before and I know exactly how (crappy) it feels. Listen in to learn what you need to know if you have been declined: some potential reasons why, what to aim for to improve upon your situation, and what to do next.

Hi friends! It's our anniversary! 3 Years today launched this podcast! And this is the 99th episode- so THANK YOU! for being part of this journey. I hope this information has helped you have a better understanding of credit. Would you please provide a great review if I have helped teach you something new, maybe share what you like (so I do more of it each episode!). Appreciate ya! Debt management plans and debt settlement companies are two VERY different things. Their business model is different, their impact on your credit is different and most people don't know they are two very different entities. Debt management plans are non-profits with certified credit counselors (which require 60 hours of training and passing an intense exam through FINRA and they help negotiate terms to HELP you get your debts paid back by negotiating lower APRs and beneficial terms to make on time and total repayment. Debt settlement companies are out to make money, serving themselves first, and then, after having your credit destroyed with late payments, your accounts being closed by the creditor, late fees added and possibly new collections or charge-offs now being created, they wait until your creditor and you have been hurt by lack of repayment methods and TRY to negotiate terms to settle for less than owed. VERY different ways to approaching debt that might be strangling you. Consider a debt management plan over a debt settlement plan. I had mentioned credit.org in the episode, and I have NO affiliation with them, they are just one of the bigger good guys there to help if you need help paying off debt and want to consider options. Questions@creditkristi.com

In this episode, Credit Kristi interviews Danielle Hill of Upwardli to talk about a solution for immigrants trying to establish a credit profile in the U.S. She is the co-founder of Upwardli, who's purpose is to help credit invisible people establish a credit to build a profile and history that creates credit-worthiness opportunities for only $6 a month! Note: Kristi has not used this product and is not affiliated with Upwardli, but simply providing some information that could be useful to listeners that are looking for a way to build credit that is inexpensive ($6 a month) and not a secured credit card. There are no kickbacks and no affiliations, simply sharing a possible option for those seeking info. www.upwardli.com Questions@creditkristi.com

You may have heard me preach and teach about how too high of credit card balances can lower your score, not having long/deep credit or too many inquiries can keep your score low. Of course collections reporting or late payments are negative marks that will lower your score. But what do the bureaus report on your actual credit report for why your score is where it is at (possibly lower than you want it to be)? I am sharing the top 10 reasons listed by the bureaus that I had learned from my Certified Credit Counseling training. Questions@creditkristi.com

If you carry a credit card balance, there is a good chance that you are experiencing a higher minimum payment or have seen that more of your monthly payment is going towards interest rather than paying down your outstanding balance. This is because the interest rate has gone up. How can this be? Listen in as Credit Kristi shares with you the various ways your APR of your credit card can increase. Questions@creditkristi.com Website mentioned in the show to stop receiving credit card offers: optoutprescreen.com

Feeling like your money isn't stretching as far as it used to? Yeah, me too. Listen in as your coach pokes fun at an article she recently read on how to make a little extra money and then Kristi will share some real ideas for reducing your bills and cost of living. You have 2 choices when it comes to managing your funds: Make more money or Spend less money. If you are looking for ideas to cut your spending and reduce your outflow, your credit coach has some suggestions. Listen to the end where you will get a tax tip which, in her example, can save about $5000 in taxes by knowing and reducing your tax bracket. https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2022 questions@creditkristi.com

Do disputes impact your credit profile and scores? You betcha! I have seen where many "credit repair companies" will just go in an dispute everything listed on your credit report. I suppose that is one way to go about it. I don't love that plan. A dispute will temporarily improve your credit score because that "thing" you are disputing is removed from the credit scoring algorithm (that negative mark is temporarily removed) for the first 30 days. If it is found that your dispute is not valid, the remarks stay attached to that tradeline. When it comes to a mortgage, when disputes are listed, and over a specific amount, it can cost you where your dispute has to be removed or you must pay down that amount of the collection a dispute might be attached to. You really don't want to be making changes to your credit profile in the middle of a loan application as it can impact your approval. Here are the numbers for each of the credit reporting bureaus to call and request the removal of the dispute language: Equifax 800-493-1058 Experian 800-846-5279 Transunion 800-916-8800 questions@creditkristi.com

if you have ever experienced identity fraud or know someone who has, you know it's no joke. There are some protective measures you can put into place to help. You can freeze your credit profile with each of the three credit reporting bureaus, you can add a fraud alert and you can also get credit monitoring services placed on your credit. If you are a victim of credit fraud, go to http://www.identitytheft.gov/ and create a report there. Follow their instructions and they have a sample letter you can use to help you format yours as well. To set up credit fraud alerts and/or a freeze: https://www.equifax.com/personal/credit-report-services/ (800) 685-1111 https://www.experian.com/fraud/center.html (888) 397-3742 https://www.transunion.com/fraud-alerts (888) 909-8872 Questions@creditkristi.com

Listen in as your credit coach shares 6 tips on how to raise your credit scores. Easy to implement and will have a long lasting positive impact on your credit profile and credit scores. Questions@creditkristi.com

Using credit and loans to leverage oneself to do more with what you have is likely the goal. For instance, putting down a required down payment and then financing your home vs. saving $400,000 to pay cash helps you be a homeowner much sooner in life. But what happens when you feel too stretched, over-leveraged and unsure if you can make the payments? That is the reality for tens of millions of Americans, right now. In fact, over 20 million people are several months late on their electric bill, at risk of being turned off. With record breaking borrowing, payments and nearly all-time high's of APRs, at least in the most recent few decades (which might be your entire lifespan so far!), many people are feeling the pressure and not sure what to do. Questions@creditkristi.com

If you are working towards a great credit score to obtain financing for a home or intend on ever getting a mortgage, purchase or refinance, listen up! the Federal Housing Finance Agency has just accepted 2 new scoring models- the first change in 20 years!! It is a BIG deal! Listen in to the details. They are saying this could help over 10 million people that currently don't have a credit score due to lack of credit tradelines reporting and how things such as medical debt is reported. Incredible news that can change the lives of millions of people! Questions@creditkristi.com Here is the link to details from the report I had read: https://www.fhfa.gov/Media/PublicAffairs/Documents/CS-Fact-Sheet-2022.pdf

If you have credit cards with balances, you may notice that your minimum monthly payment might fluctuate. Because the balance is variable, the payment can be as well. Listen in to learn how the credit card companies calculate your minimum credit scores on higher balances for most bank issued credit cards. Questions@creditkristi.com

Many people had purchased a new car in the last year or so, millions more than "usual." What's interesting is the average car price, loan amount and what now stands as the average new car payment and length of the loan term. I bring you this information because I am predicting a wave of repossessions based on the loose standards that the auto financing industry has followed since late 2020. With very little in the way of standards to ensure people can actually afford the monthly car payments, I believe repo's will surge and many people will experience damage to their credit profile (and wallet) because of it. questions@creditkristi.com