Credit Coaching by Kristi

What is joint credit? When I get married, does our credit merge? What happens if my spouse has terrible credit and I don't? I get these kinds of questions all of the time and I would like to shed some light on this topic. Listen it to learn about joint credit reports (is that a thing?!) and joint tradelines. Let's get social! @Credit Kristi on IG, YT, FB and TT! questions@creditkristi.com

I have been asked recently about a collection account that was listed on a credit report, and there was a lot of mis-understanding about how long something reports on your credit report vs. when a creditor can sue you, create a judgement or ask the courts to make you pay an obligatory debt. So I wanted to explain what a Statute of Limitation is and also how long derogatory events stay on your cred...

Collections... stink! 1 in 3 Americans have collections and of those, 50% are medical collections. So what do we do about them? How do they report on your credit report? Can you get the collection removed off of your report? Listen in to learn more about collections and how they impact YOU! questions@creditkristi.com connect with me on Instagram, YouTube, Facebook and TikTok @CreditKristi

With 45 million people walking around with student loan debt, there is no doubt there are some questions about how it reports to your credit, what is important about how it reports to your credit (and what is not), and what you need to know about Federally backed student loans that can have a lifetime impact on your credit report.  Did you know that student loans are exempt from Statue of Lim...

If we aren't prepared, many of life's unexpected events can turn into larger financial problems. It's essential we start with a foundation and then carry out a plan to be the master of or our money. But where do you start? Listen in as your coach gives some examples she has either personally experienced or saw others that started a financial hole and getting buried in credit card debt. It doesn't...

I know you have heard this term: APR. A.P.R. Huh?  What does it mean ? I used to have a very bland and basic definition of it....I mean, I knew had something to do with finance charges and interest paid over time, and bank-talk. You too? In this episode, listen in as Credit Kristi breaks it down to have a basic understanding of the definition, how it effects you and your finances over time.&n...

Did you know there are DOZENS of scoring models out there? There are the big 2 that we will focus on: FICO and VantageScore. Although they are similar, there are several very important differences. 90% of lenders use FICO as a scoring model. Listen in to learn the differences and how it effects YOU!

It blows my mind to believe that the Consumer Financial Protection Bureau (CFPB) will allow collection agencies to private message you (unlimited amounts of times, mind you!) on your social media accounts- all without having to prove you are the owner of that debt. God help you if you have a common name!  Listen in and please reach out, I would love to hear your perspective on this. email me...

Wondering if freezing your credit profile is the right thing for you to do? Listen in as your coach explains what a credit freeze is, if it affects your credit score and how to put it on and lift it off. It's not the same thing as a fraud alert, so Credit Kristi will explain what that is as well. Especially if you are going through or are recently divorced, consider freezing your credit as an extr...

I get a lot of questions about disputes- what is it? Why would I dispute a derogatory item reporting on my credit? Should I dispute something I don't like being reported? How does a dispute effect me? Listen in to learn the quick and dirty about disputes!

Are you or someone you care about just getting started in the realm of credit? If you are looking for basic knowledge on decisions to make to start your journey, listen in! If I were talking to my 18-year-old self, I would follow this information. Share with someone in your life that you want to see get some basic guidance on the first few things to know when it comes to credit. First credit card...

If you follow Dave Ramsey, chances are you LOVE Dave Ramsey. I know I am a fan. However, you may have heard him speak of credit in a way that may not settle so well with your intuition. Your gut says, "sure Dave, if you have lots of money in the bank to pay cash for things, you don't NEED credit, but for the rest of us, when you need to borrow, you need the proper credit profile." At least that is...

Jennifer Foster is my guest this week and she shares about The American Dream Experience, which I am super stoked about attending (virtually) and I hope you will too! She also shares about common pitfalls when it comes to investing. I don't think this could be any more timely with what is happening in the stock market current day. If you would like to reach out to Jennifer Foster: jen@smartplaninv...

As a loan officer, I see hundreds of credit reports a year and many times, I see that being kind to a family member or friend and co-signing to help their situation has turned out to bite you in the rear. If you are researching implications of being a co-signer, listen in! This is VERY important info to know. You NEED to know what you are "signing up for" if you are considering being a co-signer o...

You may be seeking solutions post-holidays on how to pay down those credit card balances. And if you are like most people, you are paying interest rates in the teens and twenties for your APR on your credit cards. Most of your minimum payment (nearly all!) goes to your interest portion, not the balance paydown! How frustrating! Listen in to see if transferring your current credit card balance(s) i...

You are likely starting get (or will be getting) your credit card statements rolling in from the holiday shopping sprees.... OUCH! Listen in to a gentle nudge, a little knowledge dropped and some encouragement to get into action to pay down those credit card bills!

Did you know that HOW you receive money often dictates how you spend it? It's true! The psychology aspects shows that when money comes to us in an unexpected form, such as a gift, tax refund, bonus or a government stimulus check, that we spend it differently than if it were earned income. Want to do more than just spend/splurge it? I have some ideas on how you can maximize your stimulus check if y...

I recently learned a tip that I applied for my own credit, and it worked! So I am sharing this with you. If you have late payment history on a credit card, that payment history may be hurting your score when all other items on your credit are in good standing. There are LOTS of people who have a great credit profile, and perhaps one credit credit that had a late payment or two in the past. If this...

This week I am doing things a little different! I was a guest on Shawn Yesner of Yesner Law in Tampa, his podcast called Crushing Debt. Shawn is a Bankruptcy Attorney and provides excellent guidance for those seeking debt alternatives and options which may include bankruptcy. My goal is to teach about credit so hopefully we can all better manage our money to handle what life throws at us. But some...

Have you ever wondered if it is possible to have a lower interest rate on your existing credit cards? It's possible!! Listen in for tips and guidance on when you should ask for an interest rate reduction so more of your payment goes to paying down that balance!

Whether there is a balance or not, don't close that credit card! But ESPECIALLY if there is a balance- do NOT close that account! I see people do it out of emotion..."I'll show you.... I won't do business with you anymore" Only to learn it hurts their credit score and not the credit card company to do that! Or sometimes the thought it, "I have had this card since college and the interest rate isn'...

There are several types of debt consolidation actions one can take to get out from under it. There are 0% balance transfer options, payment reduction programs, counseling options and loans that you can get that could potentially offer a better rate/payment than high-interest rate credit cards. What I do know to be true, is one day you may wake up, like I did, and feel so smothered by the debt load...

Between May 2020-July 2020, credit card companies have reduced limits or closed credit cards entirely and involuntarily to more than 70 million people. This number may be growing as economic concerns linger and the pandemic continues.  With millions of people unemployed, millions not paying their mortgage, and many unknowns during this crazy year (then add an election in there!), credit card...

Many people have collections on their credit report. Some it seems its their only things reporting, and others are devastated when a collection appears and may be unsure what to do now.  There are different types of collections and the age, or how long it has been on your credit report has a lot to do with what might be the recommendation of how to handle it.  Now although I am not a cre...

Looking to build a credit history but not really excited about opening a credit card or taking out a loan? There are a few ways in which you can have a positive credit profile and even great credit scores without actually "borrowing money." Listen in to 4 ideas from Credit Kristi as she explains how you can have a great profile without having to take on debt.  @CreditKristi on FB, IG, and YT