eCredable Blog - Learn to Build Credit

Most of us make a few resolutions every new year to take better care of our finances. Unfortunately, we continue to make these same resolutions year after year. Here's a suggestion on how to impact the most important financial resolution you will probably make.

This article originally appeared in Quora and was authored by Mitchell Lee, Director of the Fintech Group at the Federal Reserve Bank of San Francisco (August 14, 2020)

The COVID-19 pandemic has impacted our lives in many ways, and for some - it has impacted our credit scores.

eCredable Lift® provides consumers with the ability to report their utility accounts in their TransUnion credit report. Most utility companies do not report your positive payment history to the credit bureaus, which means you don’t get any credit for paying these accounts on time.

Last month, the White House announced that more than half of American adults would soon have access to free credit scores through their credit card issuers. Soon after, Citi began sharing scores with its cardholders. Last week, upstart VantageScore announced it was making in-roads with lenders and is about to serve its 1 billionth score. This week comes word from FICO, the folks who supply the most commonly-used credit score, that it will for the first time make 18 different versions of its FICO score available to consumers — for a fee.

How to leverage Alternative Data (like phone and utility bills) to impact traditional credit scores like FICO and VantageScore

Tips for building a credit history if you are an international student or immigrated to the United States. Credit is an important part of the American financial institution and therefore an important part of the American dream. If you have no credit as an immigrant or international student, know that you do have options to help you build your credit history in a responsible manner.

Good credit is an essential part of your overall financial health. As a smart consumer, you probably already know that paying attention to your credit scores is important. Without good credit you can expect to pay more for the things you need. Without good credit you may be denied for loans, credit cards, and even housing.