eCredable is Changing the Credit Score Landscape Debt-free people: Have no fear. You can prove you are credit
worthy without a FICO score. Steve Ely joins us to share how the credit scoring landscape is changing. Not only are
more lenders leaving the traditional credit score algorithm behind but they are finding more consumers are credit
worthy without it! eCredable is a service that works WITH consumers to build their credit reports. Once a history
for things like rent, electric bills or paying car insurance has been established, eCredable comes in to provide
a prospective lender, landlord, or mobile phone company a full and accurate credit rating. You see, a traditional
credit score evaluates you on the following:
— How much you borrow – even if you pay off a credit card every month
— How much credit you have left
— How long you have been borrowing money
— How often you miss a payment or are late
What it does not include are non-debt payments like insurance, utilities, or even rent – the things almost everyone
has! In other words: You no longer need to borrow money to prove you are good for a rental, cell phone, or even a
mortgage. You can get a free account with eCredable. You will only pay when you want to
prove you are credit worthy (average total cost between $90 – $120) Also, our ex-IRS Agent tells us our
personality style dictates how/when we take deductions. Finally, Tom Corley’s Rich Habits Test for Parents.
I scored a 14. Can you beat that?
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Links from this Episode:
— Steve Stewart’s Website Online – Coaching, Budgeting Course & More!
— The 2GuysTalkingPodcast Network – Thousands of Hours of Perspective, Education &Entertainment
— A Link to The No Debt, No Credit, No Problems RSS Feed – Get My Show Instantly!
— A Link to No Debt, No Credit, No Problems on iTunes and Stitcher–