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Ilyce Glink and ThinkGlink Announce New Credit Education Series, Sponsored by Equifax

2/12/2020, noon | Updated on 2/12/2020, noon
Americans are carrying $13.95 trillion in total household debt, according to 2019 data from the Center for Microeconomic Data — ...
Americans are carrying $13.95 trillion in total household debt, according to 2019 data from the Center for Microeconomic Data.

Ilyce Glink and ThinkGlink Announce New Credit Education Series, Sponsored by Equifax

Americans are carrying $13.95 trillion in total household debt, according to 2019 data from the Center for Microeconomic Data — this includes credit card debt, mortgages, home equity lines of credit and auto loans.

In a new 5-part Credit 101 series, Ilyce Glink explores common questions about credit reports and credit scores. Th e series, sponsored

by Equifax, will help consumers better understand their credit reports, explain the various types of credit scores and how a consumer’s credit history may influence their ability to get approved for mortgages, auto loans, credit cards or other credit accounts.

The series is designed to help consumers make more informed decisions in pivotal financial moments of their lives. Below is a preview of the first article in the series. Read the full article on ThinkGlink.com.

Part 1: What’s in your credit reports?

Your credit reports summarize your history of borrowing and paying back debt. They help prospective lenders and creditors evaluate how you’ve handled repaying debt in the past which can in turn help them decide whether to offer you credit and at what terms.

Although each of the three nationwide consumer reporting agencies formats and reports your information in a slightly different way, credit reports generally include the following:

Personal identifying information. This includes identifiers such as your name, address, Social Security number and date of birth.

Credit accounts. This includes open lines of credit, including mortgages, installment loans, revolving accounts and other loans. Credit inquiries. This section lists companies that have accessed your credit history.

Potentially negative information. Your reports may include a section on potentially negative information such as bankruptcies.

It’s a good idea to check your credit reports regularly to ensure they’re accurate and complete and to make sure you recognize all of the accounts and activity on the report.

You can create a myEquifax account (at www.myEquifax.com) to receive six free Equifax credit reports each year. Or you can click “Get my free credit score” on your myEquifax dashboard to enroll in Equifax Core Credit™ for a free monthly Equifax credit report and a free monthly VantageScore® 3.0 credit score, based on Equifax data.

A VantageScore® is one of many types of credit scores. As a syndicated financial journalist, media personality and Founder/ CEO of an award-winning financial- wellness company, Glink has spent her career empowering consumers by providing them with accessible, comprehensive fi nancial information. She chose to work in partnership with Equifax, an industry-leader in consumer credit education. In the new education series, she’ll provide easy, accessible answers to some of the most common credit questions. Th e series will update weekly on Ilyce’s website at thinkglink.com.