Credit Coaching by Kristi

Why does the credit score in your app look different from the one your mortgage lender sees? In this episode of Credit Coaching by Kristi, Kristi Nowrouzi explains how credit scores work and what changes in mortgage credit scoring could mean for homebuyers.Learn about VantageScore 4.0, FICO 10T, and how “trended data” considers your borrowing patterns over time. Kristi also discusses rent reporting, lender availability, and why a new scoring model does not guarantee a higher score or mortgage approval.In this episode:Why you have multiple credit scores.What is changing for conventional and FHA mortgages.How increasing or decreasing balances can tell different financial stories.When rent and utility payments may count toward your score.Three practical steps to prepare your credit before applying.Your credit score can influence your borrowing options, but a home payment should also fit your everyday life.Explore more credit education and connect with Kristi at CreditKristi.com.Mortgage scoring updates discussed reflect information available in early November [email protected]

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 thingWhen you should dispute information on your credit reportWhen a dispute may be unnecessary or ineffectiveWhy accurate negative information can return after a disputeHow active disputes may affect a mortgage applicationThe difference between credit-card debt and installment debtWhy lowering revolving credit utilization may help your scoreHow statement balances can affect what appears on your credit reportWhether you should close paid-off credit cardsHow becoming an authorized user may help—or hurt—your creditWhat to consider before paying collections or charge-offsWhy you should avoid opening new accounts before buying a homeHow to freeze your credit with all three credit bureausWhat your credit report is actually measuringPractical steps to correct, improve, and protect your creditYour 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.

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.htmquestions@creditkristi.com

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

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!). [email protected] up your copy of the Finish Financially Free book on Amazon:https://a.co/d/36v9jb8

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 [email protected]

So many adults overspend during the holidays because they’re trying to give their kids what they never had — not realizing they’re actually trying to heal a younger version of themselves.It’s love… but misdirected.And it often leads to debt and anxiety come January.This episode helps listeners:Spot emotional spendingUnderstand their triggersBuild boundaries that still let them be generousProtect their credit + [email protected]

Millions of people feel like they are drowning in debt. $700+ car payments, tens of thousands in student loans and credit card balances, and month after month, payment after payment, it feels like a dent hasn't even been made. Listen in as your coach shares ideas and suggestions inspired by a podcast episode she was listening to from BiggerPockets.com. [email protected] Financially Free Book on Amazon: https://a.co/d/eBOMxuK

In the not too distant past, smaller medical debts that become collections were no longer allowed to be added/reported to your credit report. Unpaid medical debt remains the leading cause of consumer credit damage.Well, a Texas judge recently overturned that and well... the CFPB (Consumer Financial Protection Bureau) doesn't seem to be putting the gloves on to fight this fight.So what can you do if this is your struggle?The Fair Debt Collection Practices Act (FDCPA) prohibits harassment and requires validation of debts. The Fair Credit Reporting Act (FCRA) lets consumers dispute inaccurate or duplicate debts.If you’re struggling with medical debt, check whether your state, county or city offers assistance programs.UndueMedicalDebt.orgExplore nonprofit aid organizations. Groups like the Healthwell Foundation or PAN Foundation may help with treatment costs or [email protected]

I read an article that gave some startling stats on Gen Z's: a BIG percentage are quite nervous, or more like anxious, about their credit profile. Many have not even checked their credit before! Yikes!If you are or know a Gen Z, please share this episode with them so they can learn the 5 pillars that is the foundation of their credit scores. Having a solid credit profile is essential to have a great financial plan. And my newest book is now available! Pick up your copy at https://a.co/d/[email protected]