There’s snow in the forecast, and maybe even the backyard, for many readers of The Score, and most of us are busy with plans for celebrating Thanksgiving with loved ones. But that can’t stop us from taking a quick look back at the terrific conference season we enjoyed with many of you, over the last few weeks.
A pair of surveys commissioned by VantageScore Solutions, and a new infographic summarizing their findings, reveal that both lenders and consumers harbor misunderstandings about a population of consumers known as the “credit invisibles,” who cannot be scored when lenders use traditional credit scoring methodologies.
Springleaf Financial, a leading consumer-finance company that provides loans to customers through a nationwide branch network and via the Internet, is now offering customers free online access to VantageScorecredit scores.
It’s true that applying for new credit, in the form of retail store cards, other credit cards, or other loans can lower your credit scores, but it’s certainly nothing that must be uniformly avoided. Some folks should definitely think twice, but for others it might be perfectly fine.
As director of consumer education for Credit.com, author and consumer-credit expert Gerri Detweiler is dedicated to helping people understand their credit and debt. The Score caught up with her between speaking engagements, and she graciously spared a few minutes to share her insights.