Credit Coaching by Kristi

Stop Disputing Everything: How to Actually Fix Your Credit

Are you "fixing" your credit by disputing everything negative? When people say they are “working on their credit,” they often mean someone is disputing every negative account on their report. But disputing information is not the same thing as fixing your credit. In this episode of Credit Coaching by Kristi, Kristi explains the difference between correcting inaccurate information, improving your overall credit profile, and protecting your credit from future damage. You’ll learn why repeatedly disputing legitimate accounts can create temporary results instead of lasting improvement, how unresolved disputes may complicate the mortgage approval process, and which actions can make a meaningful difference when preparing to buy a home. * Why “credit repair” and credit improvement are not always the same thing * When you should dispute information on your credit report * When a dispute may be unnecessary or ineffective * Why accurate negative information can return after a dispute * How active disputes may affect a mortgage application * The difference between credit-card debt and installment debt * Why lowering revolving credit utilization may help your score * How statement balances can affect what appears on your credit report * Whether you should close paid-off credit cards * How becoming an authorized user may help—or hurt—your credit * What to consider before paying collections or charge-offs * Why you should avoid opening new accounts before buying a home * How to freeze your credit with all three credit bureaus * What your credit report is actually measuring * Practical steps to correct, improve, and protect your credit Your credit is not repaired by hiding accurate information. It improves when you correct legitimate errors, reduce revolving balances, protect your payment history, manage your accounts responsibly, and give those healthier patterns enough time to be reflected in your credit profile. Your credit report tells part of your financial story, but it does not measure your intelligence, your character, your income, or your worth.. This podcast is for educational purposes only and is not individualized legal, financial, or credit advice.

Can Your Credit Score Measure a Length of a Romantic Relationship?

This one blew my mind. The Federal Reserve did a 15 year study over 12 million people and found an equation for determining how long a relationship might last depending on the credit score gap. Woah- wait, what?! Your credit score and profile is so much more than just a report to determine your interest rate or if you will be approved for a loan... it is a report of character. The Federal Reserve conducted this study to learn more about financial behaviors and accidentally stumbled on findings of relationship success based on credit scores at the time of starting a relationship. I found it fascinating and wanted to share this with you today. The Fed's abstract page: https://www.federalreserve.gov/econres/feds/credit-scores-and-committed-relationships.htm [https://www.federalreserve.gov/econres/feds/credit-scores-and-committed-relationships.htm]questions@creditkristi.com

Broke by Design?

In this episode, learn from Coach Kristi that the system is likely geared against you. You have to learn the rules of the game in order to win. It's not taught by our parents or in school, at least not the proper way, it is up to you to learn on your own. Otherwise, you are potentially paying tens of thousands of dollars over time in additional finance fees than you would with a great credit score. Learn about the debt trap and how to get out. You can do this! #credit #creditcards #managingcredit #debtmanagement #creditcoaching #credittips #moneymoneymoney

Could Trump Cap APRs at 10% for a Year? And Let's Talk The Cost of Money

President Trump sure is shaking things up. Social media is a-buzz with his crazy antics. Last week he went on social and posted he was going to have credit card APRs get reduced to 10% for a year. The goal is that with the lower APR, more of your payment goes to reducing your credit card balance. BUT, there are things he is not thinking through that could actually hurt millions of people rather than help them in that scenario. And what does money cost? The cost to borrow can be staggering. Listen in as your coach gives a few examples (which are intended to hurt so you pay your debts down faster!). Questions@creditkristi.com Pick up your copy of the Finish Financially Free book on Amazon: https://a.co/d/36v9jb8

Psychology of Spending

Before the action steps of paying off debt, getting out of debt, staying out debt, we really need to know a few angles in psychology that affects our spending and buying decisions. It even affects our commitments! Tune in to learn some really deep stuff about how the brain works when it comes to money decisions. Questions@creditkristi.com