Credit history – KR2K http://kr2k.com/ Sun, 19 Sep 2021 10:13:01 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://kr2k.com/wp-content/uploads/2021/08/icon-150x150.png Credit history – KR2K http://kr2k.com/ 32 32 Fears of US Government Shutdown as Chicken Debt Ceiling Game Begins | American politics https://kr2k.com/fears-of-us-government-shutdown-as-chicken-debt-ceiling-game-begins-american-politics/ https://kr2k.com/fears-of-us-government-shutdown-as-chicken-debt-ceiling-game-begins-american-politics/#respond Sun, 19 Sep 2021 08:00:00 +0000 https://kr2k.com/fears-of-us-government-shutdown-as-chicken-debt-ceiling-game-begins-american-politics/ Top Democrats are expected to challenge Republicans to block an interim financing measure, which would trigger the double-barreled US budget crisis defaulting on its mammoth debt and a federal government shutdown, say two sources close to it of the proposal. The plan envisioned by House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer is […]]]>

Top Democrats are expected to challenge Republicans to block an interim financing measure, which would trigger the double-barreled US budget crisis defaulting on its mammoth debt and a federal government shutdown, say two sources close to it of the proposal.

The plan envisioned by House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer is to suspend the debt ceiling after the 2022 midterm election. in an interim bill that would keep the government funded until early December, the sources said.

Democrats then want to challenge Republicans to block the interim financing measure with an obstruction and prevent it from receiving the 60 votes needed to pass the Senate – which could cause a government shutdown on October 1 and leave the States – United unable to pay their bills.

The United States has almost always avoided defaults and the sources said they expected a resolution on this occasion as well, although negotiations, like in previous years, continued until the eleventh hour. .

But economists say a failure to raise or suspend the debt limit when tied to the interim financing measure would be particularly catastrophic, as the United States would be unable to repay its debts amid a government. federal potentially non-functional.

Resolving the impasse – which typically turns into political football under a Democratic president as Republicans criticize their spending – now requires a party to blink.

The strategy to tie the potentially catastrophic prospect of the United States defaulting on its $ 28 billion debt to a government shutdown could put Republicans in a difficult position after their repeated refusal to raise the debt limit in any way. bipartite.

It also underscores the extent of congressional dysfunction, as Republicans refuse to support measures ranging from voting rights legislation to police reform to a 9/11-style commission to investigate the attack. murder of January 6 against the Capitol.

The high-stakes debt ceiling clash is gaining momentum after Treasury Secretary Janet Yellen recently said the United States could default in mid-October and cause “irreparable damage” to the debt. economy if Congress does not take action.

In a letter to Pelosi, Yellen said the extraordinary measures the Treasury Department used to temporarily fund the government after the country’s debt hit its legal limit on August 1 would be exhausted by next month.

“Once all available measures and available liquidity are completely exhausted, the United States of America would not be able to meet its obligations for the first time in our history,” Yellen wrote.

This collapse could affect the credit rating of the United States, raising the specter of an increase in Treasury interest rates, which could cost the government billions and lead to increased borrowing costs for businesses. American rates, since their rates are compared to Treasury rates.

Democrats have insisted for months that Republicans join them in taking action on the debt ceiling, saying it is mainly because of Republicans that the national debt has increased by about $ 8 billion over the course of the year. of the Trump administration.

Pelosi added at a recent press conference that the need to suspend the debt ceiling stemmed in part from Republican tax cuts for the rich. “We’re paying the credit card, the Trump credit card,” Pelosi said.

But Republican Senate Leader Mitch McConnell has remained adamant that Republicans will not support Democrats in raising the debt ceiling as part of a stand-alone bill, and that it should be included instead. in a vast infrastructure package that can be adopted by a party. online voting.

“Let’s be clear,” McConnell said in a tweet Wednesday. “With a Democratic President, a Democratic House, and a Democratic Senate, Democrats have all the tools they need to raise the debt ceiling. It is their sole responsibility. “

Pelosi and Schumer also noted that Democrats joined Republicans in handling the debt limit when Trump was president and believe Republicans should now reciprocate – rather than leaving vulnerable Democrats open to ad attacks if the cap is. noted in a party line vote. .

Emphasizing the point, Pelosi said Democrats would not include a provision to raise the debt ceiling in the $ 3.5 billion budget resolution for Biden’s infrastructure program they had been seeking. ‘intention to adopt with the reconciliation process, in order to avoid obstruction.

Instead, the Main Democrats are moving forward with a plan to add such language to the interim funding measure that would keep the government funded until Dec. 3 or Dec. 10, the sources said, and hope persuade 10 Senate Republicans to support the bill.

The inclusion of the debt limit in the interim measure is not final, the sources warned, and discussions will continue when the House returns from a summer recess. It could always be added to a disaster relief bill, for example, or be addressed in a stand-alone bill.

Part of the concern of Main Democrats is that the path to 60 votes in the Senate was significantly reduced last month after the Senate Republican Conference majority signed a letter promising to block any bills that attempt to raise the debt ceiling.

Only four Senate Republicans – Senate Appropriations Committee Chairman Richard Shelby, Lisa Murkowski, Susan Collins and John Kennedy – refused to sign the letter, a number well below the threshold required to defeat an expected filibuster.

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How to make sure you are approved https://kr2k.com/how-to-make-sure-you-are-approved/ https://kr2k.com/how-to-make-sure-you-are-approved/#respond Sat, 18 Sep 2021 21:31:00 +0000 https://kr2k.com/how-to-make-sure-you-are-approved/ Worried about your chances of getting the Apple card? Do not be afraid ! Here are some tips to make sure Apple approves your request. The Apple The card is one of the most unique and exciting credit cards out there, but like any card, being approved ultimately depends on someone’s credit score. Since its […]]]>

Worried about your chances of getting the Apple card? Do not be afraid ! Here are some tips to make sure Apple approves your request.

The Apple The card is one of the most unique and exciting credit cards out there, but like any card, being approved ultimately depends on someone’s credit score. Since its debut in 2019, the Apple Card has established itself as one of Apple’s most distinctive products. From Apple’s point of view, this is the first financial product the company has ever created. As a credit card, the Apple Card was the first iPhone-exclusive credit card on the planet – and one of the first credit cards from a consumer tech brand.

While the Apple Card is not for everyone, it is a pretty good option for most iPhone users. It is seamlessly integrated with the Apple Wallet app, offers instant access to customer service through iMessage, and its Daily Cash system rewards cardholders with easy-to-understand cashback earnings that are paid out every day. For the person who owns an iPhone and wants a credit card that is as easy to use as possible, the Apple Card is a strong case for itself.


Related: How To Transfer Apple Money To Your Bank

However, as with any credit card, being approved for the Apple Card is not a guarantee. As Apple explains on its website, the card issuer Goldman Sachs uses “your credit rating, your credit report (including your current debts) and the income you report on your application when reviewing your Apple card application.” Unlike most credit cards, the Apple Card only seriously investigates a person’s credit report if they are approved and accept their offer. If someone applies and is not happy with their credit limit or interest rate, they can decline the offer and receive no serious demand. Likewise, anyone who applies for and is rejected for the Apple Card also does not face a difficult investigation.

How To Improve Your Chances Of Getting The Apple Card

Promotional image of the Apple card

While this system eliminates much of the sting often associated with most credit card applications, there are still some things to keep in mind that will increase a person’s chances of being approved (and potentially obtain a higher credit limit). One of the biggest impacts on a person’s credit rating is their payment history with existing debt – such as credit cards, car loans, etc. If someone has a 100% payment history with all of their other accounts, it shows Goldman Sachs that that person can be trusted to make all of their payments. Likewise, the app will look at how much a person is using for their available credit. If someone applies and their credit report shows that they have currently used $ 4,500 of their $ 5,000 limit on all of their other cards, that high usage can hurt their chances of being approved. In comparison, someone who only spent $ 200 of that $ 5,000 limit will be a much more attractive candidate in the eyes of Goldman Sachs. This is why it is recommended that you pay off credit card balances as soon as possible instead of waiting to make a big payment once a month at the end of the billing cycle.

Another key factor taken into account by the Apple Card app is the total number of inquiries someone has received in the past two years. If an applicant has 15 inquiries on their credit report, it signals Goldman Sachs that they are desperately looking for new sources of credit and may not be a reliable customer. Alternatively, someone with 1 or 2 inquiries will be much more likely to be approved. Another thing to keep in mind is the average age of a person’s credit history. Having multiple accounts in good standing is one thing, but these mean even more if they’ve been like this for 3 or 4 years instead of a few months. While there is no way to increase the age of an account other than to wait, it may be worth suspending the Apple Card until someone has at least one account open. for quite some time like this.

As mentioned above, the advantage of the Apple Card is that there are no real consequences if someone applies and is not approved. They will receive a request smoothly, there will be no negative impact on their credit score and they will be able to continue with their day. But if someone really wants an Apple Card and wants to make sure their application is approved, then understanding the points above is extremely helpful. If you aren’t already, using apps like Credit Karma and Experian is a great way to see your current credit score and understand how all of these factors come into play. Build that credit history, keep reading. make current payments, avoid too many inquiries and this Apple card application should be approved in no time.

Next: How To Change Apple Card Billing Address On Your iPhone

Source: Apple

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How to Fix Your Business Credit Score https://kr2k.com/how-to-fix-your-business-credit-score/ https://kr2k.com/how-to-fix-your-business-credit-score/#respond Sat, 18 Sep 2021 07:00:00 +0000 https://kr2k.com/how-to-fix-your-business-credit-score/ Establishing your business credit score can involve a variety of different steps according to The Really Useful Information Company (TRUiC) – which provides tailor-made guides for virtually anything “business” related. Below, we’ll explore the three most important steps you need to take if you’re looking to improve your credit score in a simple and straightforward […]]]>

Establishing your business credit score can involve a variety of different steps according to The Really Useful Information Company (TRUiC) – which provides tailor-made guides for virtually anything “business” related.

Below, we’ll explore the three most important steps you need to take if you’re looking to improve your credit score in a simple and straightforward way.

Step 1: Make sure you set up your business correctly

Here is the first and one of the most important steps you can take to improve your business credit rating. According to TRUiC, it’s about making sure you’ve set up your business in compliance with all applicable legal requirements.

Use the right business structure

Choosing the right business structure can go a long way in ensuring that your business exudes a certain element of credibility and reliability. According to TRUiC, your best option here is to incorporate your business by registering it as a limited liability company or as a corporation.

The credit rating of the business cannot be improved if you are working as a sole proprietorship because your personal and business finances are not legally distinguished as two separate entities.

Get an Employer Identification Number (EIN)

After you have successfully registered your business (taking into account your most favorable business entity structure), you will need to create an Employer Identification Number (called EIN).

It should be noted that your business will need to meet a plethora of legal prerequisites to be eligible for an EIN, including to be incorporated.

Set up a corporate bank account

One of the most fundamental points raised in TRUiC’s guide to building business credit was creating a business bank account. This is because having a business checking account will a) provide you with a plethora of financial benefits (like loans) and b) improve your financial organization by separating your personal and non-personal finances.

Get a business phone line

While this may seem less important when it comes to business credit, TRUiC has emphasized its importance to how lenders will view your business, and therefore how they decide whether or not to extend your business credit. .

Get a business website

Obtaining a business website can help you improve your business credit in the same way as obtaining a professional phone line. Overall, it will act as an active representation of your business image and also provide crucial information that lenders will rely on to verify your personal information and history.

Step 2: Establish a Business Credit History

This is a critical step which, in fact, can indirectly cripple various business owners. Indeed, to have good business credit, you will need to have sufficient time to build it.

Pay all bills and lines of credit on time

Paying all of your bills and lines of credit on time (or sooner, if financially feasible) is undoubtedly one of the easiest, easiest, and most efficient ways for you to establish and maintain a good business credit rating according to TRUiC.

In order to ensure that you never inadvertently miss a business payment, you should take steps to: a) organize reminders through your company’s calendar apps (such as through Google or Microsoft), and b) always prioritize your invoices by order of importance.

Set up Net-30 accounts

Net-30 accounts allow businesses to pay for any business product or service they need up to 30 days after purchase.

In addition to the obvious general cash-flow benefits that businesses can enjoy through a Net-30 account, properly repaying these payments on time can go a long way toward a successful business credit history as these suppliers report directly to the United States. credit bureaus.

Step 3: Know What To Avoid When Establishing Business Credit

Avoid predatory lenders

While these may seem harmless at first, TRUiC’s industry analysis found that in fact, these predatory lenders are becoming more and more ‘sneaky’, offering exorbitant loans coupled with very high daily interest rates. which, in pragmatic terms, allow them to be repaid on time. almost impossible.

Have outdated business information

Not updating your business information properly is one of the easiest and most negligent ways to hurt your business’s credit rating; this is because it can indirectly affect a plethora of important milestones mentioned above.

Final thoughts

Above, we’ve outlined the most important steps business owners can take to properly “fix” their business credit score according to TRUiC’s team of experts.

If you’re still looking for a ‘guide’ in this area, take a look at TRUiC’s recent Obsidian Bear Funding review; this can be of particular interest to proactive small business owners with future expansion plans that will undoubtedly require external funding.

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Best student credit cards of September 2021 https://kr2k.com/best-student-credit-cards-of-september-2021/ https://kr2k.com/best-student-credit-cards-of-september-2021/#respond Fri, 17 Sep 2021 12:38:27 +0000 https://kr2k.com/best-student-credit-cards-of-september-2021/ Banks want long-term customers, but they don’t want to lend money to those who can’t pay it back. College students are at a crossroads. Due to this difficult situation, credit, one of the most essential elements for the future, can be difficult to find. Credit cards cannot be provided to anyone under the age of […]]]>

Banks want long-term customers, but they don’t want to lend money to those who can’t pay it back. College students are at a crossroads. Due to this difficult situation, credit, one of the most essential elements for the future, can be difficult to find.

Credit cards cannot be provided to anyone under the age of 21, unless a parent or guardian co-signs for them or they have independent income, in accordance with the credit card law of 2009.

Student credit cards, with lower credit limits and benefits designed for students, can serve as a gateway to more attractive credit offers in the future.

How do we select the best student credit cards?

Welcome bonuses, fees, prizes and other perks were used to select the best student cards. We also paid special attention to APRs and other things that negatively impact students (who are more likely to have little knowledge and experience with credit cards) when they make mistakes. when learning about credit and credit cards.

However, what is ideal for the majority of students may not be the best option for you. Before you figure out which cards will best help you reach your financial goals, do your homework.

Let’s take a look below at some of the best student credits for September 2021.

Best student credit cards of September 2021

1. Discover it® Cash Back for Students

Annual subscription : $ 0

Reward rate: 1% -5% Cashback

Introductory offer: Cashback Match ™

Recommended credit score: 630-689 (Medium)

Discover offers an unlimited cashback match. At the end of your first year, Discover will automatically match your entire cashback! As a result, you can turn $ 50 into $ 100. Alternatively, you can turn $ 100 into $ 200. There is no restriction on how much you can spend or how much you can earn. There was only a dollar-for-dollar match.

Each quarter, earn 5% Cash Back at a variety of locations including Amazon.com, grocery stores, restaurants, gas stations, and when paying with PayPal, up to the quarterly maximum upon activation. Plus, automatically earn 1% unlimited cash back on all other purchases.

2. Chase Freedom® Student Credit Card

Annual subscription : $ 0

Reward rate: 1% Cashback

Introductory offer: $ 50

Recommended credit score: 690-850 (Good – Excellent)

After your first purchase within the first three months of activating your account, you will receive a $ 50 bonus.
On all purchases you will get 1% cash back. There is no annual fee for this card. For up to 5 years, you can earn $ 20 in rewards in good standing after each account anniversary. With Chase Credit Journey, you can get a free credit score.

After you make 5 monthly payments on time, your credit limit will be increased. When credit standards are met, the account will be open for 10 months. There is no minimum amount to exchange for cashback. As long as your account is open, your Cash Back benefits do not expire.

3. Discover it® Student chrome

Annual subscription : $ 0

Reward rate: 1% -2% cash back

Introductory offer: Cashback Match ™

Recommended credit score: 630-689 (Medium)

Discover is the only place where you can get unlimited cashback. At the end of your first year, Discover will automatically match your entire cashback! As a result, you can turn $ 50 into $ 100.

Alternatively, you can turn $ 100 into $ 200. There is no restriction on how much you can spend or how much you can earn. There was only a dollar-for-dollar match.

Earn 2% Cash Back on up to $ 1,000 in combined purchases at gas stations and restaurants each quarter. Plus, automatically earn 1% unlimited cash back on all other purchases.

4. Bank of America® Travel Rewards for Students

Annual subscription : $ 0

% Regular APR: 13.99% – 23.99%

Recommended credit score: 670-850 (Good – Excellent)

Due to the high earning rate of its rewards program, which you can then redeem for flights, hotels, vacation packages, cruises, rental cars or baggage fees, Bank of America Travel Rewards for Students is our choice for the best overall student card and the best student travel card.

It also offers a low annual fee and an extensive introductory APR on purchases, which contributes to the card’s high rating. Plus, the absence of overseas transaction fees makes this card excellent for student travel outside of the United States.

Earn decent travel rewards (1.5 points per dollar spent) with no levels to manage. Purchases can be repaid over a 12-month interest-free period. Travel abroad is welcome.

Frequently Asked Questions About Student Credit Cards

Is having a student credit card a good idea?

If not used properly, a credit card, like any other instrument, can become problematic. For the majority of students, the advantages of using a credit card outweigh the disadvantages. Building a positive credit history in college can give a student a head start when it comes to qualifying for different types of credit after graduation.

Auto loans and mortgages are obvious future credit demands, but homeowners and potential employers often review credit records and scores. A bad credit card experience for a student could be costly both financially and in terms of the student’s credit history.

Can I have multiple student credit cards?

It is possible, but not recommended, to obtain many student credit cards. With little credit card processing expertise, opening multiple student credit card accounts is a recipe for racking up more credit card debt than prudence and mismanagement of multiple accounts.

The goal of a student credit card is to establish a credit history rather than having access to large amounts of credit. Almost everyone’s needs can be met by most good cards in this category.

As a result, it’s fine if you can only find one card that does.

What are the conditions for obtaining a student credit card?

For many years, card issuers have aggressively advertised student credit cards on college campuses and through direct mail featuring pre-approved cards.

However, growing public outrage over what many saw as irresponsible marketing and lending practices that resulted in excessive student card debt resulted in the passage of the Credit Card Act of 2009, which imposed tough new regulations.

Applicants must now be at least 21 years of age or provide proof of sufficient independent income to cover account expenses. If you’re under 21 and don’t have enough money, you’ll need a co-signer over 21 (usually a parent or guardian).

Can I pay off student loans with a credit card?

Credit cards are generally not accepted by loan processors for monthly payments. Technically, however, you may be able to use your credit card’s cash credit limit to make a student loan repayment by withdrawing money from an ATM using your card or requesting a check. troubleshooting to your transmitter.

However, this type of transaction would be considered a cash advance and would be extremely risky as the interest rates for cash advances are extremely high.

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Grow Credit Raises $ 106.3 Million Funding Round https://kr2k.com/grow-credit-raises-106-3-million-funding-round/ https://kr2k.com/grow-credit-raises-106-3-million-funding-round/#respond Thu, 16 Sep 2021 18:03:31 +0000 https://kr2k.com/grow-credit-raises-106-3-million-funding-round/ Increase credit, a black-owned financial inclusion platform, raised a funding round of $ 106.3 million, including $ 6.3 million in equity funding from various investors and $ 100 million in funding by borrowing from Arena Investors, LP, a $ 2.6 billion private equity fund. The round includes returning investors Mucker Capital and Commerce Ventures, with […]]]>

Increase credit, a black-owned financial inclusion platform, raised a funding round of $ 106.3 million, including $ 6.3 million in equity funding from various investors and $ 100 million in funding by borrowing from Arena Investors, LP, a $ 2.6 billion private equity fund.

The round includes returning investors Mucker Capital and Commerce Ventures, with participation from Marqeta CEO Jason Gardner, DraftKings CEO Jason Robins, NBA All-Star Baron Davis, Omaze Chairman Will Kassoy and Matt Higgins, who is vice president of the Miami Dolphins, recurring Shark on ABC’s Shark Tank, co-founder and CEO of private investment firm RSE Ventures and co-owner of VaynerMedia.

Other key strategic investors include Blue Ridge Bankshares, BillGO, Carl Tremblay, responsible for the platform and growth of Plaid, and the founders of Truebill, Yahya and Haroon Mokhtarzada. BillGO’s contribution will also allow Grow to leverage the BillGO platform and billing network to improve its offering and promote the financial health of consumers.

“We are delighted to have assembled such a fantastic group of influential investors,” said Joe bayen, founder and CEO of Grow Credit. “The funds will be deployed to accelerate our user acquisition efforts, including integrating the Grow Credit user experience into banks, apps and websites through our dedicated SDK. As a result, partners will be able to monetize their audience by delivering a financial inclusion solution that creates credit while saving money on a variety of subscriptions, including cell phone bills.

To support its growth plans, Grow Credit recently hosted Yasi Samimi, Vice President of Marketing at Truebill, as a new growth advisor. Samimi has an exceptional track record and has helped Truebill acquire millions of users over the years.

“I wish a platform like Grow Credit existed when I was working on building my credit history,” Samimi said. “Their mission and their product touched me immediately. I think of the impact that discovering Grow Credit can have on people’s lives, and it makes their support on the marketing side extremely rewarding and exciting.

The fintech lender also boasts former NBA star Baron Davis and the NFL Hall of Fame Ronnie lott as investors. Grow Credit plans to increase its team of influencer investors before their round A to help raise awareness around its financial inclusion platform, aimed at serving over 100 million consumers with no credit history or thin credit, according to Experian.

“I am an early investor in Grow Credit,” Lott said. “When Joe described his concept, I immediately understood its value and how much good such a platform would bring to underserved communities and minorities.”

Former NBA star Baron davis added that “I have been an advocate for financial literacy for years and am thrilled to be part of a platform that will help inner city youth start their credit building journey on a solid foundation from a young age. , thanks to Grow ”.

Grow Credit is committed to financial literacy and provides weekly financial education content to its user base. The firm also rolled out an employee benefits initiative and in partnership with College Hunks Moving, a privately funded company with revenues of $ 150 million that will offer Grow Credit to its employees as a recruitment and retention tool.

“We are excited to be working with Grow Credit as the platform dovetails well with College Hunks’ mission to grow our workforce into successful future entrepreneurs,” said Omar Soliman, founder and president of College Hunks.

Grow Credit aims to transform businesses and small businesses into organizations focused on financial inclusion by providing a platform that reduces employee turnover while simultaneously improving the credit score of their workforce, in addition to offering discounts. exclusive on popular subscriptions.

Grow brings its total investment to $ 108.6 million to date. Other investors include Sébastien Deguy, Senior Vice President of 3D at Adobe, TriplePoint Capital, Progression Fund, Tamim Mourad and Husam Nazer, Founder of PG Ventures, Bayview Capital, Northbay Solutions, Florida Funders, Soliman, Pete Kight, Founder from CheckFree and Ted Koenig, CEO of Monroe Capital.

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Your insurance premiums should not increase unnecessarily https://kr2k.com/your-insurance-premiums-should-not-increase-unnecessarily/ https://kr2k.com/your-insurance-premiums-should-not-increase-unnecessarily/#respond Wed, 15 Sep 2021 21:46:48 +0000 https://kr2k.com/your-insurance-premiums-should-not-increase-unnecessarily/ When the time comes to renew your auto and home insurance this year, your family could be one of the thousands in Washington who will see hundreds of dollars in new premium costs with no added benefits or protections. It is often unwise to increase the economic burden on families. But doing so amid the […]]]>

When the time comes to renew your auto and home insurance this year, your family could be one of the thousands in Washington who will see hundreds of dollars in new premium costs with no added benefits or protections.

It is often unwise to increase the economic burden on families. But doing so amid the lingering hardships of the COVID-19 pandemic is downright cruel – and the blame rests squarely on the office of State Insurance Commissioner Mike Kreidler.

Last spring, after the legislature refused to pass a bill Commissioner Kreidler called for to prevent insurers from offering customers a discount for good credit, he issued an emergency order to ban him – even these discounts.

As chairman of the Senate Committee on Business, Financial Services and Commerce, I held a hearing on Commissioner Kreidler’s original bill. The beauty of the hearing process is that it often reveals ways to improve bills.

We were alarmed to learn at this hearing that The ban proposed by Commissioner Kreidler would in fact lead to massive increases in insurance prices. To avoid this, the Democrats and Republicans on the committee came up with a compromise inspired by the scoring policy adopted by K-12 schools in 2020.

The compromise protected all of Washington’s insurance customers from any credit-related price hikes. Those with good credit or improving credit scores could still qualify for discounts, while those with declining credit scores, for whatever reason, could not be penalized with a corresponding price increase.

Unfortunately, Commissioner Kreidler, who has been pushing for decades to end discounts on good credits, has rejected any compromise. He called for the death of his amended bill and, once he did, issued his “emergency” order.

The result is exactly what we heard at the committee hearing. Despite the Commissioner’s cliché attempt to put the blame on insurance companies, thousands of Washington families who haven’t filed insurance claims for decades, if ever, are seeing huge price increases.

According to emails sent to my office from residents of the state, the increases have ranged from several hundred dollars to several thousand dollars. The American Property and Casualty Insurance Association estimates that more than one million Washington drivers will see their premiums increase.

Some people’s rates have gone down. From an actuarial standpoint, this is a financial transfer from people who file fewer claims to people who file more insurance claims.

Seniors have been among the hardest hit. For example, consider a couple from Kirkland who contacted my office. Janet and Rick retired in 2016 and still live in the house they bought in 1984. They haven’t filed an insurance claim in all this time, but their annual auto and home rates have recently gone up. climbed from $ 600 to $ 4,400.

Like many seniors, they live on a fixed income. After a lifetime of managing their finances responsibly, how can you expect them to be able to afford these price hikes?

Insurance companies use credit scores to determine rates because they have found a correlation between credit history and the likelihood of a person making an insurance claim.

I’ve spent nearly a decade working to make sure Washington insurance customers get the best prices for the most coverage. Like most insurance customers, I am in favor of insurance discounts. For example, a discount for good students has nothing to do with causing accidents, but insurance companies give discounts to good students because those good students file fewer insurance claims. This is also true for credit score discounts. It makes no sense to eliminate the discount for good students just because some students have bad grades.

Everyone should have the chance to enjoy the benefits, beyond insurance rates, that good credit can provide. These include improved access to employment, rental housing and home ownership, and financial security. The legislature can and must do more to help everyone in Washington improve their credit rating.

But Commissioner Kreidler must help families now. I urge him to rescind his emergency ordinance and work with the Legislature in the next session to pass the compromise legislation my committee has put forward to protect all Washingtonians from unaffordable insurance price hikes.

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Credit Cadabra draws curtain on Section 609 challenge letter https://kr2k.com/credit-cadabra-draws-curtain-on-section-609-challenge-letter/ https://kr2k.com/credit-cadabra-draws-curtain-on-section-609-challenge-letter/#respond Sat, 11 Sep 2021 17:48:33 +0000 https://kr2k.com/credit-cadabra-draws-curtain-on-section-609-challenge-letter/ Section 609 of the Fair Credit Reporting Act states that you can use a letter 609 to ask credit reporting agencies to erase adverse information from your credit report, even if it is true. Nashville Tennessee, United States – September 11, 2021 / MarketersMEDIA / – Section 609 of the Fair Credit Reporting Act states […]]]>

Section 609 of the Fair Credit Reporting Act states that you can use a letter 609 to ask credit reporting agencies to erase adverse information from your credit report, even if it is true.

Section 609 of the Fair Credit Reporting Act states that you can use a letter 609 to ask credit reporting agencies to erase adverse information from your credit report, even if it is true.

To increase your credit score, many are tempted to look for a simple, yet questionable, remedy in the form of a 609 letter. However, is it even effective? Here is some critical information.

What does article 609 include?

A consumer’s ability to request a copy of their credit report and to see the information it contains is described in Section 609 of the Fair Credit Reporting Act (FCRA). While Section 609 does not directly state that you have the right to dispute information that is incorrect, it does recognize your ability to see all of your credit report information.

Section 609 gives you the privilege of making a request, including:

– Everything in your consumer credit reports.

– The origin of this information.

– Anyone who has reviewed your credit report in the past two years will be considered a potential employer (unless it is for an investigation).

– Organizations that have made inquiries that are not of a harsh nature in the past year.

What a 609 letter is and is not able to do

When the credit reporting agency receives your Section 609 letter, they will respond to you by providing you with the contract with your signature that either supports the supplier’s claim or informs you that the original contract is not available.

The agency can remove the information from your file without your intervention. However, if the wrong information persists, you will need to take the next step and dispute it again with the credit reporting agency. On the dispute form, make it clear that the information cannot be confirmed by you or the credit bureau and must be deleted. That should be all it takes!

If the credit reporting agency is able to provide the original contract with your signature, the information will remain on your credit report until it is removed from your credit report after the time limit has expired. waiting. Records of late payments, defaults, write-offs and debts transferred to collection agencies can only remain on a credit report for seven years. A Chapter 7 bankruptcy will remain on your credit report for 10 years from the date of filing.

Be aware that Section 609 gives you the ability to research information, but not expressly dispute, about items included in your credit reports. FCRA Articles 611 and 623 deal with these issues. However, several customers discovered that after sending the Section 609 letter, the credit reporting companies removed the unverifiable material.

How is a 609 protest letter legal?

Your rights under the FCRA allow you to request a 609 letter to help correct any inaccurate or incomplete information on your credit report. Unfortunately, even if the supplier verifies the accuracy of the information, it can still be added to your file.

Even if the credit bureaus remove information from your file, you are still responsible for settling any valid obligations.

If the facts are correct, it is likely that your credit report will still contain this information. However, you can also request information from the credit bureau under Section 609 of the Fair Credit Reporting Act.

A 609 letter does not contain any private information, but it does require your own documents.

For example, here is an example of a common letter 609: Letter template 609

Should I hire a credit repair company if I know how to dispute?

A 609 letter has several phases, as you can see, and it is essential to be complete and accurate. Do not hesitate to seek help if you are in a rush to get a credit card or loan, or if you are just irritated by the procedure and need help.

There are also other methods that can be used to increase your credit score, rent furniture, buy a car, a house or even get approved for a loan from a jewelry company can also increase your score. credit, the Section 609 dispute letter is not the only solution to getting a better score.

You can theoretically fix these issues on your own, but it may be worth it to hire a reputable credit repair service.

When looking for a credit repair service, look for a reputable company that will check your credit reports and provide you with a free consultation call to discuss your credit issues. You can ask the agency to take care of the matter for you if you wish.

The credit repair agency will take care of all your checking and dispute needs, from writing letters to follow-ups. Essentially, it will function as a liaison with the credit bureaus on your behalf.

If the credit repair company is able to correct the error in your credit report, the incorrect information will be removed. The next step is to get updated copies of your credit reports, and that’s when the process is complete.

The Section 609 challenge letter was created to protect you.

You are protected by the FCRA against credit report information that cannot be verified, which can damage your credit history and credit scores. If you have the time and resources to use a Section 609 letter, you should do so.

Life can be busy and demanding, some people are unable to pay their bills because things like looking good are required in their careers. Most men can expect maintenance costs like razors and barber fees. The expense and time it takes to maintain one’s appearance with purchases like salon trips and nails.

If you’re in a rush to increase your credit scores but don’t have the time to get down to it, credit repair companies can help reduce worry and frustration. The key is to make sure that your credit reports contain accurate and up-to-date information. It is crucial that you do not wait to act. You have the privilege and the obligation.

Characteristic image Original source.

Contact information:
Name: Dom Lucre
Email: send an email
Organization: Credit Cadabra
Address: 337 Broomsedge Trail Chattanooga TN, 37405
Telephone: (323) 432-0849
Website: http://www.creditcadabra.com

Source URL: https://marketersmedia.com/credit-cadabra-pulls-the-curtain-on-the-section-609-dispute-letter/89045132

Source: MarketersMEDIA

Version number: 89045132

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US debt default could occur in October, Yellen warns https://kr2k.com/us-debt-default-could-occur-in-october-yellen-warns/ https://kr2k.com/us-debt-default-could-occur-in-october-yellen-warns/#respond Wed, 08 Sep 2021 20:14:53 +0000 https://kr2k.com/us-debt-default-could-occur-in-october-yellen-warns/ WASHINGTON – The United States could default on its debt in October if Congress does not take action to raise or suspend the debt limit, Treasury Secretary Janet L. Yellen warned Wednesday. The “extraordinary measures” the Treasury Department has used to temporarily fund the government since Aug. 1 will run out next month, Ms. Yellen […]]]>

WASHINGTON – The United States could default on its debt in October if Congress does not take action to raise or suspend the debt limit, Treasury Secretary Janet L. Yellen warned Wednesday.

The “extraordinary measures” the Treasury Department has used to temporarily fund the government since Aug. 1 will run out next month, Ms. Yellen said in a letter to lawmakers. She added that the exact timing was uncertain, but the time to avert economic disaster was running out.

“Once all available measures and available liquidity are fully exhausted, the United States of America would not be able to meet its obligations for the first time in our history,” Ms. Yellen wrote.

To delay a default, the Treasury last month suspended investments in the Civil Service Retirement and Disability Fund, the Postal Service Retirees Health Benefit Fund and the Government Securities Investment Fund. Federal Employee Retirement System Savings Plan.

The breakdown of pandemic relief payments this year and the uncertainty over inbound tax payments this month have made it harder than usual to predict when funds will run out. Ms. Yellen said a default would cause “irreparable damage” to the US economy and global financial markets, and even approaching default could be damaging.

“We have learned from past deadlocks around debt limits that waiting until the last minute to suspend or increase the debt limit can seriously damage business and consumer confidence, increase borrowing costs to short term for taxpayers and negatively impact the credit rating of the United States. ,” she wrote.

Democratic leaders have insisted for months that Republicans join them in raising the debt ceiling, saying the government has reached its latest debt limit due to spending and tax cuts by the Trump administration , what President Nancy Pelosi of California on Wednesday called “the Trump credit card.”

But Sen. Mitch McConnell of Kentucky, the Republican leader, has equally insisted that he will prevent Senate Republicans from helping Democrats on the matter. Democrats could try to tie the increase to measures such as an emergency spending bill to pay for relief and reconstruction after Hurricane Ida, wildfires and summer heat waves – the daring senators of Louisiana and the western states to vote no.

The showdown again put the parties in a pool game, resulting in default and a potential economic crisis.

Ms Pelosi, in her weekly press conference on Wednesday, insisted that Democrats will not include a statutory increase in the government’s borrowing power in a budget bill being drafted this month. This bill, under complicated fiscal rules, could pass without Republican votes in the Senate.

Instead, Democratic leaders will dare Senate Republicans to filibuster a bill that raises the debt ceiling.

“We Democrats supported lifting the debt ceiling” during the Trump administration, she said, “because it was the responsible thing to do.” She added: “I hope the Republicans act in an equally responsible manner.”

Democrats have several options they are considering. The government will run out of operating funds at the end of the month, so an increase in the debt ceiling could be paired with an interim spending measure – meaning a Republican obstruction would not only jeopardize full faith and government credit, but could also shut down the government. .

Democrats could also tie him to a major infrastructure bill that has passed the Senate with bipartisan support and is expected to get a vote in the House by September 27.

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What to do if no credit history is holding you back https://kr2k.com/what-to-do-if-no-credit-history-is-holding-you-back/ https://kr2k.com/what-to-do-if-no-credit-history-is-holding-you-back/#respond Sat, 28 Aug 2021 15:00:17 +0000 https://kr2k.com/what-to-do-if-no-credit-history-is-holding-you-back/ You probably know that having a bad credit or a red flag credit report will make it very difficult to borrow money when you need it. But what if your problem is not a bad credit report, but rather an absent one? If you are new to the world of work, you may not yet […]]]>

You probably know that having a bad credit or a red flag credit report will make it very difficult to borrow money when you need it. But what if your problem is not a bad credit report, but rather an absent one?

If you are new to the world of work, you may not yet have enough credit history to qualify for a credit score. And not having a credit history could be an instant shutdown for lenders because it sends the message that you’ve never had to deal with bills before and therefore aren’t established as a trustworthy borrower. .

Of course, people with no credit history tend to find themselves in this frustrating catch-22 situation – you don’t have credit, so you can’t qualify for a loan or a credit card, but you don’t. you cannot create credit without having a loan or timely credit. card payments to show. It is a difficult place to live. So if an absent credit history is holding you back, here’s what to do about it.

1. Open a secure credit card

With a regular credit card, you have a spending limit that you must meet based on factors such as your creditworthiness and income. With a secured credit card, you put down a deposit that serves as your personal spending limit. But then when you charge expenses to that card and pay them on time, that positive activity is recorded to help you build a credit history.

2. Be added as an authorized user to another credit card

Without a credit history, it is unlikely that you will be eligible to open a regular credit card. But if you have a parent, sibling, or someone else in your life who is willing to add you as an authorized user on a credit card, it could help you build your own credit history.

Whenever an activity is associated with this account, it will also be added to your credit report once you become an authorized user. This does mean, however, that you will need to make sure that the person adding you to their credit card is a responsible borrower who pays on time.

3. Make sure all your invoices are recorded

While your timeliness of paying a mortgage or credit card bill is recorded as part of your credit history, everyday bills are usually not tracked in the same way. A good way to establish a credit history is to make sure that these bills are accounted for. You can use a service like Experian Boost (which is free) to track your timely payments for bills like your utilities and cell phone so that you get credit to manage them responsibly.

Not having a credit history can create a frustrating situation. The good news, however, is that there are steps you can take to turn a missing credit report into a stronger one. And that, in turn, could be your ticket to getting a credit score so that you can start taking advantage of different borrowing opportunities.

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Homeownership gives wife Adrian a chance to give back https://kr2k.com/homeownership-gives-wife-adrian-a-chance-to-give-back/ https://kr2k.com/homeownership-gives-wife-adrian-a-chance-to-give-back/#respond Wed, 25 Aug 2021 14:00:32 +0000 https://kr2k.com/homeownership-gives-wife-adrian-a-chance-to-give-back/ ADRIAN – Despite rising house prices, there is still help available for those who want to own their own home. And owner Cara Snyder is just one example. Chronically homeless since the age of 17, Snyder had previously received rental assistance, but it never really kept her in a safe life. “I have been homeless […]]]>

ADRIAN – Despite rising house prices, there is still help available for those who want to own their own home. And owner Cara Snyder is just one example.

Chronically homeless since the age of 17, Snyder had previously received rental assistance, but it never really kept her in a safe life.

“I have been homeless on several occasions. I looked for help. I qualified for help. Help was not there; things like that, ”Snyder said.

But then Snyder and his son Joaquin Ramos got involved in the community. Ramos ran for the Adrian City commission and was appointed to the city’s human relations commission. Snyder and Ramos began to attend events and became activists.

One day, Fran Brant, vice president of regional sales at Premier Bank, hosted a seminar on buying a house in a church, which Snyder and Ramos attended. Brant gave the crowd the basics of what people need to do to have a home, and one thing stuck in Snyder’s mind. It was the bank could establish a credit report for potential buyers so that they could get their own home.

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