When it comes to credit, be sure to know all elements of what’s involved.
RISE: WHEN IT COMES TO UNDERSTANDING CREDIT, DO YOU KNOW WHO’S WATCHING YOU? I’M RISE JILL MILLER.
ACCORDING TO THE PRIVACY RIGHTS CLEARINGHOUSE, PROSPECTIVE EMPLOYERS OFTEN USE CREDIT REPORTS TO GAUGE HOW RESPONSIBLE YOU ARE. AND, THE SOCIETY FOR HUMAN RESOURCE MANAGEMENT REPORTS SIXTY PERCENT OF EMPLOYERS USE THIS PRACTICE. EVEN INSURANCE AGENTS USE YOUR CREDIT SCORE TO CHECK THE LIKELIHOOD OF FILING A CLAIM – WHICH IMPACTS DECISIONS ON RATE.
ANGELA CRAWFORD VICE PRESIDENT, MARKETING MANAGER, CONSUMER CREDIT SOLUTIONS, WELLS FARGO:
AC: HAVING A PLAN TO REDUCE DEBT CAN MAKE AN OVERWHELMING PROCESS MORE MANAGEABLE. SET REALISTIC GOALS, AND TRACK PROGRESS ALONG THE WAY. YOUR DEBT PAY DOWN STRATEGY SHOULD INCLUDE STUDYING YOUR CREDIT REPORT AND CORRECTING INACCURACIES. THEN CREATE A BUDGET AND DEVELOP A PLAN BASED ON THAT. CONTACT CREDITORS ABOUT PAYMENT OPTIONS AND INTEREST RATES. THEN, EXPLORE REFINANCE OPTIONS. ALSO, CONSIDER CONSOLIDATING DEBT INTO ONE SINGLE LOAN AND LIMIT UNNECESSARY CREDIT USE.
RISE: FOR MORE, VISIT WELLS FARGO DOT COM SLASH SMARTER UNDERSCORE CREDIT.
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