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>>TARIK MINOR: NOW TO NO CREDIT. NO PROBLEM EVERYONE NEEDS IT. BUT FOR MANY THE TIME
THEY’VE LEARNED THE IMPORTANCE
OF GOOD CREDIT BY THE TIME THEY
HAVE IT IT WILL BE ALREADY BE
TOO LATE NOW NEWS 4 JAX
CONSUMER INVESTIGATOR LAUREN
VERNO BREAKS DOWN THE IMPORTANT
RULES FOR REPAIRING YOUR CREDIT
REVEALING THE ONE DOCUMENT THAT
IT WILL BOOST YOUR SCORE
FOR FREE. WHAT WOULD MAKE THE
PRESIDENT A CREDIT UNION SAY
THIS TO A PERSON WITH BAD
CREDIT. LET’S DO
THIS LONG. WE’LL GET THERE IN
JUST A SECOND, BUT FIRST LET’S
UNDERSTAND WHY YOU NEED GOOD
CREDIT. IF YOU WANT TO CREDIT
CARD, YOU’LL NEED IT. AND
YOU’LL NEED TO BUY A CAR.
>> I WANT TO BUY A HOUSE CAN’T
GET THAT WITH
BAD CREDIT.
>> MARY’S A INTERIM PRESIDENT
AND CEO OF JAX FEDERAL CREDIT
UNION SAYS ONCE YOUR CREDIT
GOES IT’S GOING TO TAKE SOME
TIME TO BRING IT BACK UP IF
YOU’VE HAD LATE PAYMENTS.
>> IT WOULD TAKE ALMOST 24
MONTHS OF ON-TIME PAYMENTS TO
REALLY RECTIFY
THAT SITUATION.
>> 2 YEARS CAN SEEM LIKE A LONG
TIME BEFORE YOU GET ENTICED BY
A COMPANY THAT PROMISES BETTER
CREDIT FAST.
>> BE WARE.
>> GOING OUT AND USING A CREDIT
REPAIR AGENCY OR SOMETHING LIKE
THAT THAT COULD CUT COST YOU
SEVERAL
$100.
SEVERAL $100. >> THOSE ARE ALL THINGS YOU CAN
DO YOURSELF. IT’S ABOUT US AS
THOSE QUICK FIX BUSINESSES ARE
JUST CHECKING YOUR CREDIT
REPORT FOR
ANY DISCREPANCIES AND THEN
DISPUTING THEM WHICH YOU CAN DO
FOR FREE CHECK YOUR CREDIT
REPORT THERE’S ANYTHING ON
THERE THAT
ISN’T RIGHT.
>> IT’S VERY EASY TO DISPUTE IT
DIRECTLY WITH THE LENDER OR
THROUGH THE ONLINE PROCESS THE
CREDIT BUREAUS SO YOU DON’T
NEED TO PAY
FOR THAT.
>> AND BECAUSE OF COVID-19 YOU
CAN ACTUALLY CHECK YOUR CREDIT
SCORE FOR FREE WITHOUT A
PENALTY THROUGH THE 3 MAJOR
CREDIT BUREAUS EXPERIENCE
EQUIFAX AND TRANS UNION BEFORE
COVID-19 YOU COULD ONLY
DO THIS 3 TIMES
A YEAR.
>> IT’S DOES RECOMMEND ONE
BOOSTING SERVICE EXPERIAN THEM
JUST CREATED BOOST, SHE WOULD
LINK THE CREDIT REPORT WOULD
GET LINKED UP TO YOUR
BANK ACCOUNT.
>> AND THROUGH YOUR BANK
ACCOUNT THEY COULD SEE THAT YOU
HAVE REGULAR DEPOSITS AND THAT
YOU PAY YOUR UTILITY BILLS AND
YOUR MOBILE PHONE BILL ON
THINGS LIKE THAT ON TIME.
>> EVEN IF YOU HAVE DEBT
THAT’S OKAY, YOU JUST NEED TO
MAKE SURE YOU ARE PAYING AT
LEAST THE MINIMUM DUE ON TIME
EVERY MONTH.
>> WHAT IS THE MOST COMMON
PITFALLS OF CREDIT CARDS THAT
YOU SEE PEOPLE WITH PEOPLE AND
HOW DO YOU AVOID IT.
>> SOMETIMES GETTING TOO MANY.
♪
SO THE IDEA AND SOMETIMES IT’S HORRIBLE WE SEE PEOPLE WHO HAVE 20 OR 30 CREDIT
CREDIT CARDS. SO THIS IS NOT A
GOOD IDEA. >> SO WHAT DO YOU DO IF YOU’RE TAKING ALL THESE STEPS TO FIX
YOUR CREDIT, BUT CAN’T WAIT IN
NEED A
LOAN OUT.
>> WHAT I WOULD ENCOURAGE
SOMEONE TO DO IS IF YOU REALLY
DON’T HAVE ANY CREDIT BRING
YOUR
♪
YOUR ♪ BANK STATEMENTS AND SHOW ME
LOOK AT THIS.
HAVE MADE A PAYMENT.
♪
BY THE FIRST OF THE MONTH FOR
♪
A YEAR. ALSO US TO
THIS LONG.
>> AND WHILE YOU’RE BUILDING
THAT CREDIT SCORE BACK UP TO
SAYS CARE ABOUT IT MAKE IT
IMPORTANT IN CHECK IT BECAUSE A
BAD CREDIT SCORE DOESN’T HAVE
TO BE A LIFE SENTENCE.
NOW IF YOU HAVE TROUBLE GETTING
A CREDIT CARD BECAUSE OF YOUR
CREDIT YOU CAN START ADEQUATE A
BUREAU ANNOUNCED FOR SECURED
CREDIT CARD BASICALLY WORKS THE
SAME AS A DEBIT CARD BECAUSE
YOU GIVE THE MONEY UP FRONT
BUT JOY AND TARIK THIS IS GREAT
BECAUSE IT
COUNTS TOWARDS BUILDING YOUR
CREDIT SCORE SO LAUREN WHAT
ABOUT THOSE SECURED CREDIT
CARDS DO THEY USUALLY COME WITH
A FEE. YES, ALWAYS LOOK FOR THE
FIA I THINK THAT’S HUGE WE LOOK
FOR FOR EVERY SINGLE CREDIT
CARD TO A LOT OF THE MAJOR
CREDIT CARD COMPANIES LIKE VISA
MASTERCARD DO COME WITH A FEE
BUT DISCOVERED DOES OFFER ONE
WITH NO FEE
ALSO REACH OUT TO YOUR LOCAL
CREDIT UNIONS AND BANKS.
THEY HAVE SECURED CREDIT CARDS
THAT USUALLY HAVE NO FEES.
IT’S JUST IMPORTANT TO ASK
THESE QUESTIONS BEFORE YOU
START SPENDING.
>> LAUREN BURNHAM THANK YOU.
TOMORROW THE MORNING SHOW AT
7.15 LAWRENCE GOING TO SHOW YOU
HOW TO TURN NO CREDIT INTO
NO PROBLEM. WHAT PARENTS COULD
BE DOING RIGHT NOW TO ESTABLISH
CREDIT FOR THEIR KIDS AND WHEN
SO DOBA RECOMMENDS GETTING THEM
THAT FIRST
CREDIT CARD.
>>JOY PURDY: AND THEN AT
09:00AM YOUR CREDIT QUESTIONS
WILL BE ANSWERED LIVE WITH JAX
FEDERAL
CREDIT UNION. YOU CAN SUBMIT A