San Diego, CA (PRWEB) August 24, 2015
The credit score is the basic element that determines whether consumers will be able to make certain purchases but few people know what it means. The three major credit scoring agencies – Experian, TransUnion and Equifax – provide different numbers for the same people that may mean the difference between a ‘yes’ or ‘no’ when applying for a bank loan or purchasing a big-ticket item like a car or appliances.
Paul S. Richard, President and Executive Director or the Institute of Consumer Financial Education (ICFE) provides tips to keep or get back a good credit score:
1. Pay bills in a timely manner – Be consistent when paying bills. Consider automatic withdrawals from your checking account on a certain date each month to anticipate bills and have enough cash in the bank to cover monthly charges
2. Apply only for credit you need – the offers in the mail may be tempting, but the more cards you apply for, the more information goes into your credit report and one slip-up with non-payment will affect your score negatively
3. Check your credit report regularly – everyone makes mistakes and errors on your credit report can be costly for you. Confirm the information on your report is accurate and report any incorrect information to the credit reporting agency immediately.
The ICFE recently instituted a certification program for financial professionals called the Certified Credit Scoring Specialist (CCSS ™) to train and equip all financial counselors with the tools to determine the meaning of the credit score and how to change and improve it. Useful for all credit and debt counselors. More information on the course is available at http://www.icfe.us/Certified-Credit-Scoring-Specialist.html
ABOUT THE ICFE
The Institute of Consumer Financial Education (ICFE) was founded as a non-profit organization in 1982 to help consumer improve spending habits, increase savings and use credit more wisely. Working in cooperation with government and business, the ICFE offers several certification programs with Continuing Education Units and Professional Development Units including Certified Identity Theft Risk Management Specialist Program and the Certified Consumer “Debt Collection Compliance Specialist®. Paul S. Richard is the ICFE President and Executive Director. To learn more about ICFE visit their websites at http://www.financial-education-icfe.org and http://www.studentdebthelp.org. For further information contact news(at)dtpublicrelations(dot)com