Credit Coaching by Kristi

There are literally millions of people in deferment or forbearance of their mortgage loan, and many more considering this route. This year sure has given a beating to many people. If you are in or considering one of these options, please listen in as there are some ramifications that are possibly unexpected. I think those regulators that jumped in so quickly in March/April to bring about the CARES...

If you are looking to borrow money for a purchase of a car or home, you NEED a good credit score to not have to overpay in higher interest rates and unnecessary finance charges. It's THAT important! I have many people I speak with saying they have a great job history, money in the bank but they have a terrible credit score. I need you to hear this- we need to have a credit score that at least meet...

Looking to have a big improvement to your score, almost immediately? Listen in for my favorite tip to help make this happen. Now, it won't make any "bad" credit go away, but it will help drive your score up with longstanding history added and additional debt utilization in the mix of things. 

If you have recently applied for credit, you know that about a week later there is something in the mail indicating the credit score that was used and the many reasons why your score "is what it is." if you have great credit, these reasons are going to make you mad! Because every one listed sounds derogatory! You could have a nearly perfect credit rating and have had great credit established for d...

Ever wonder what Credit Karma really.... is ? Many people have asked me, so I have answered! Listen in to learn what Credit Karma is up to and although they provide several of your "scores" for free... they have a motive!

Ever wonder the impact one late payment can have on your credit? I know we have all been there- you get busy and forgot about that credit card payment that was due or thought something was set up on auto pay only to learn it didn't really "take" and now... you are late on your payment and it's being reported on your credit report. Let's dive in to what kind of impact that has on your credit score...

When discussing credit, I often hear people that have negative marks on their credit report say they are going to dispute those marks. All fine and well if it is actually not accurate. But if you truly forgot to pay that last utility bill when you moved last (and ended up with a collection) or you really did forget to make that credit card payment (and ended up with a 30-day late payment) then a d...

There is so much misunderstanding when it comes to credit and what is reported, what is not, what matters and what does not. Listen in as I demystify a few myths out there when it comes to what is reported or important on your credit. 

What happens when 2 Loan Officers get together to talk about credit? A fun, informative, helpful conversation that just happened to get recorded happens, that's what! Here's the YouTube link if you would like to watch AND listen in: https://youtu.be/8n5tb-L_huA Dustin sets up the questions, and we banter about some of the most important aspects of credit. This information matters when you go to ge...

Let's say you are applying for a loan and your score is lower than you thought, than you desire, and than what is needed for the best interest rate possible. There is a term that is important for you to know, it's called a Rapid Rescore and it can save you a LOT of money in interest fees over time if you know about it.  Listen in to learn this term and how it might apply to your situation if...

We have offers coming at us for forbearance on our student loans and mortgages. Listen in- as it has some pitfalls. Major need to know: if you are in forbearance for your mortgage, you may need to pay 3 months of on time payments after the forbearance in order to refinance or get a purchase mortgage loan. Also, a forbearance can effect your score, even though you are not late! Just the act of list...

Ever wonder if increasing your credit limit will help your score? Your situation? Your financial snapshot?  I gotcha covered- listen in to answer if you should get a credit line increase on your credit card. I share when it is best to and not to, and on what kind of card you make the request. Remember me talking about becoming an authorized user on someone else's card? I will compare and cont...

There is a difference between secured and non-secured debt. And it reports as such on your credit report as well. Listen in and learn what makes them different and also those differences have in your money and credit goals.

Perhaps you have heard of this term or just wondering if it is possible- if I pay off a collection, can it or will it be deleted? Listen in to learn what can be deleted when paid and what cannot when it comes to collection accounts. 

I am asked ALL the time what underwriters are looking at when they are reviewing credit for approving a loan. There are MANY factors that go into a loan approval, but when it comes to your credit history and report, listen it to learn what is most important to know about what is needed for credit approval.  Other factors go into determining approval, so this episode is a general overview of t...

I know how hard it is to get by... just getting through to the next pay day, sometimes we feel really stretched. What happens when your car has issues, and it's the shop (AGAIN!!!) and now you are making repairs and car payments. I know many people, unfortunately due to lack of savings and a cash emergency fund, have to forfeit making their car payment to pay for repairs. After all, what good is p...

Is there a difference between a charge card and a credit card? We tend to use those terms interchangeably. However, they are in fact two different kinds of tradelines. And the differences can be quite stark, so listen in and learn what makes them different and what impact those differences have on your credit.

Ever wonder when your credit report will be updated? Is it the first of the month? Is it only once a month? How often and when do my creditors report? Listen in to learn.... I used to think it was the start of the month, starting with a clean slate and recently updated information. Boy was I wrong! Because of the ways your creditor report, your credit score can (and does) change all the time.&nbsp...

With millions of people unemployed or furloughed, it is going to prove to be a challenging time to pay bills and put food on the table. Since delivering groceries taking on a (temporary) part time job isn't an option for many or most people, listen in for suggestions to stretch the dollar and avoid putting bills on your high-interest credit cards. This too shall pass! Let's stay in gratitude and s...

You may have heard about disputes but unsure what to do, when to do it, how to do it, and if it will even help you. Listen in to learn some details about disputing errors and collections that are reported on your credit report.

It's often SOOOOO easy to just swipe the credit card for a purchase or to sign a few papers and get another semester paid for. But have you looked into what it actually costs you, in dollars and cents, when you borrow money? We know we are paying "interest" to borrow, but have you seen the numbers? Warning: this should hurt! I want you hate how it feels in the cost to borrow money. I am exposing i...

What is a good score? 620? 700? Wonder where you line up in the world what is considered a "good" credit score? Listen in to find out what a good credit score is in Kristi's opinion, and how to keep or increase your score. And what reports to your credit report, anyway? Does your bank balance report? Marital status? Payment history? Find out now!

Going through a divorce can be messy, emotionally devastating and have a horrific effect on your your well-being, and your credit. Many people experience plunging credit scores due to their actions they have to endure going through a divorce with additional costs and expenses and experiencing so much change at one time. Listen in to learn some tips to protect your credit and finances during this t...

Most of us have a car loan, so what happens when you pay that car loan off,  either paid in full or selling that car and getting a new one.  How does that effect your credit score? And what impact does student loans have on your credit report? Listen in for tips!

Inquiries have an effect on your credit score. An impact of 10% of what makes up your credit score.  There is a difference between a hard and a soft credit inquiry, often referred to as a  "pull." So what is a soft inquiry and what is a hard inquiry? Listen in!