Credit Scores

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What’s New With Credit Reports?

Here are a few new developments that we are tracking:

  • Consumers are about to benefit from changes afoot with credit reports (From WSJ [subscription] with hat tip to NGPF Team member, Sonia):

Top NGPF Podcasts

Looking for a great opportunity to deepen your knowledge on a topic that has been vexing you for weeks, months or maybe even years? Well, the NGPF podcast is a great place to turn. I interview experts including educators, NY Times bestselling authors, columnists at leading newspapers, researchers and academics. I thought I would share with you our top 10 podcasts over the past 12 months, based on data from Soundcloud:

By |March 14th, 2017|Credit Cards, Credit Reports, Credit Scores, Investing, Podcasts|

Thirty (30!) Spanish Activities Now Available

In case you missed it in January, NGPF has heard the call, and we’re beginning to translate our original activities and projects into Spanish for use with your English Language Learners. Don’t worry — we’re not relying on my own poor command of the Spanish language (muy malo) — we’ve hired an awesome translator who is working through our resources in batches of 10. With two batches now complete, we’ve got 30 activities/projects across Checking, Saving, Budgeting, Types of Credit, Managing Credit, and Investing, ready for use!

How to access the Spanish translations (3 methods):

  1. Bookmark this directory page for links directly to the Spanish and corresponding English versions of the Google docs
  2. On our website, look for activities and projects with (Sp) following their title — that denotes the resource is available in Spanish  Spanish screenshot
  3. On individual activities or projects, look for the words Spanish Version under the header and click to open the translation.   Spanish version

 

Are Spanish translations going to be a game changer in your classroom? Can you just not wait for us to release more?

What Percentage of 18-22 Year Old’s Credit Applications Declined?

Answer (from ID Analytics report): 72%

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Questions for students:

What’s the Catch?: Purchase 3 Bureau Reports

I saw this paid ad during a Google Search this evening:

Screen Shot 2017-02-13 at 9.56.35 PM

Hmmm…so what caught my eye? The “Purchase 3 Bureau Reports.” Many of you are probably wondering “Why purchase these reports when you can get credit reports from each of the three bureaus for FREE at annualcreditreport.com? ” and “Why would you want to buy them at the same time?” A best practice is to space out your FREE credit reports from the three credit bureaus every four months so you can be constantly monitoring them. To make matters even more confusing (or some might say misleading) the ad says in bold at the top “No Credit Card Needed” so why would I have to purchase something that is available for FREE elsewhere.

Click on “Purchase 3 Bureau Reports” and here’s what you get:

By |February 14th, 2017|Advertising, Credit Reports, Credit Scores, Current Events|

Article: What’s the Future of Credit Scores?

Think Big Data. The Economist (5 minute article, college reading level) enlightens us on this topic in their article: “Big data, financial services and privacy:”

This is all part of an “intensifying data arms-race in finance”, says Magda Ramada Sarasola from Willis Towers Watson, a consultancy, which claims that no industry used more big data last year. Banks and insurers used to rely only on what customers and credit agencies told them, but today websites and mobile-banking apps let them get much more close and personal. Less conventional sources are also popular. Social-media profiles, web-browsing, loyalty cards and phone-location trackers can all help. In a trial, FICO, America’s main credit-scorer, found that the words someone uses in his Facebook status could help predict his creditworthiness (tip: avoid “wasted”). Even facial expressions and tone of voice are being studied for risk.

Just another reason to be careful with social media..your bank or lender may be reading but then again the lines between social media and finance seem to be blurring:

By |February 12th, 2017|Article, Credit Scores, Current Events, Research|

Time Launches Coinage, A Video-First Site Dedicated To Personal Finance

From Press Release:

Today, Time Inc. (NYSE:TIME) launches Coinage, a new video-first brand covering personal finance that runs across 22 Time Inc. sites. Coinage will feature 600 short-form videos throughout 2017 to help guide everyday choices consumers make in spending, saving and investing for themselves and their families across all stages of life in a lighthearted and entertaining fashion.

Here are the first three videos they released. Each are between 1-2 minutes:

Free FICO Scores From Experian!

free

We knew that more and more credit card companies were providing their cardholders with their credit scores each month (Discover was the first to offer to their cardholders and then expanded that by providing it to anyone who went to their site). Then there are sites like Credit Karma and Credit Sesame that also provide credit score information for free. This evening, the Wall Street Journal is reporting that Experian is getting into the act:

By |February 2nd, 2017|Credit Reports, Credit Scores, Current Events, Research|