“As technology rapidly evolves the financial industry, consumers are faced with more financial decisions than ever before,” said
Here is a list of activities consumers, small-business owners and educators can participate in during the month of April:
- Join @Experian_US in our weekly #CreditChat on Twitter and Google+ every Wednesday at
3 p.m. Eastern time. Experian’spublic education experts and leaders in personal finance will discuss popular topics and ways consumers can change their financial behavior: April 5— Financial literacy 101: building money smart habits through education. April 12— Personal finance obstacles facing millennials, featuring Erin Lowry. April 19— Fun ways to teach children the importance of saving. April 26— 2017 Data and credit trends, featuring the National Foundation for Credit Counseling®.
Experianhosts a daily #CreditChat live chat on Periscope at 3 p.m. Eastern timeto answer questions about credit and money.
- Follow @Experian_US on
Snapchatfor daily credit tips and a behind-the-scenes look at the world of Experian.
Conferences and events
- At the Annual Conference on Financial Education in
Chicago, Rod Griffinshared a glimpse of Experian’sforthcoming lesson plan on credit reports and credit scores. The teaching resources will be provided free to teachers to help them educate students about the importance of building good credit and how to do so.
April 6, Alex Lintner, Experian’spresident of Consumer Information Services, will discuss the future of financial services and how Experianis innovating for the consumer at the Jump$tart Coalition for Financial Literacy’sannual partner meeting.
- Griffin will travel abroad
April 19 to 22with the Heroes at Home organization to teach American airmen and their families about managing, building and protecting their credit during events at key European Air Forcebases.
- Closing out Financial Literacy Month, Griffin will present the “Credit Reporting Roadmap,” explaining unique credit and credit reporting issues faced by
U.S.consumers abroad, during the Americans Working Around the Globe Annual volunteer conference, April 23 to 28in Germany.
“Helping families across the country improve their financial literacy is a big task, but we’ve made — and will continue to make — great strides by working collaboratively with our many and diverse partners, like
Here are some tried and true tips from
- Review your credit report regularly — Your personal credit report is an easy-to-read record of your credit accounts and total indebtedness. Be sure to obtain a copy of your credit report once every 12 months (and especially before major purchases) and dispute any information you believe is inaccurate. You can request a copy of your report directly from
Experianor once every year from Annual Credit Report.
- Check your credit score — Credit scores can play an important role in your financial journey. They translate the information in your credit report into a number reflecting the risk of doing business with you. To check your risk, request a credit score when you order your credit report. You will receive an explanation of what the score means and which details from your credit report are most affecting it.
- Keep your utilization rate low — Your utilization rate, or balance-to-limit ratio, should never exceed 30 percent of the credit limit. Your total credit card balances should never be more than 30 percent of your total credit card limits, and you don’t want any one card to have a balance of more than 30 percent of its limit. Both can hurt you. Remember, 30 percent isn’t a goal; it’s the maximum your balances should ever be. The lower your utilization rate, the better.
- If you have missed payments, get current and stay current — Late payments, called delinquencies, may have a major negative impact on credit scores. To see the fastest improvement in your scores, catch up on late payments and pay down your balances. Late payments are the most important indicator of credit risk, so they have the greatest and longest-lasting impact. The more recently the missed payment occurred, the greater that impact will be, and the more missed payments you have, the longer it will take to recover. If you fall behind on your payments, contact your lenders to see if they can improve the terms of your debts.
Throughout April, the Financial Literacy Month campaign will encourage individuals to take the time to think and talk about their own money matters and to take full advantage of resources designed to improve their financial literacy and well-being.
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