Tagged Credit

How Interest Rates, Credit Ratings, and Lending Affect You (Your Economic Future)

How Interest Rates, Credit Ratings, and Lending Affect You (Your Economic Future)

How Interest Rates, Credit Ratings, and Lending Affect You (Your Economic Future)

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Mathematics of Interest Rates, Insurance, Social Security, and Pensions

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Interest Rate Models - Theory and Practice: With Smile, Inflation and Credit
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Credit Card Cash: Get More Cash From Your Credit Card Now

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Credit Card Cash: Get More Cash From Your Credit Card Now

Did you know that banks charge a much higher interest rate for cash advances on your credit card than for regular purchases? Did you know that the cash advance limit on your credit card is much lower than the total credit on your card? Did you know that banks don’t allow you to pay off your cash advance balance before your purchase balance thereby robbing you of the possibility to save money, while increasing their own profits at your expense? There are times when everyone needs extra cash. Woul

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Ken Rees CEO of Elevate Credit Inc. Talks about the Importance of Technology in Financial Services in Sarder TV Interview

Ken Rees has a long career as an executive in the financial services industry, including being Chief Operating Officer of Think Finance Inc., CashWorks, InnoVentry, and is currently the CEO for Elevate Credit. In an exclusive interview with Sarder TV, the independent learning channel, Rees talks to Chitra Nawbatt, Sarder TV correspondent, about his career, the creation of his new company, effective leadership, and the importance of creating a learning culture in keeping a company vital and competitive.

“Ken Rees is a successful executive and entrepreneur and he has a lot to say about his field of financial services, the impact of technology in his industry and the importance of being a learning organization,” said Russell Sarder, CEO of NetCom Learning and creator of Sarder TV.

“We are excited to be able to offer this interview with Ken Rees as part of our learning video database so that others can learn from the experience of a successful entrepreneur and businessman,” said Sarder.

Ken Rees has spent almost his entire career in the financial services sector, much of it serving customers not well served by the traditional credit and banking industry. In the interview for Sarder TV, Rees talks about why it is important to provide financial services that allow individuals with poor credit backgrounds to get the credit they need while obtaining the ability to improve their credit history. According to Rees, his company, Elevate, helps customers gain access to free financial training and when they demonstrate responsible financial behavior they are rewarded with lower interest rates and additional products. Rees credits much of the success of his online company to being technology driven, allowing for the successful use of big data in innovative ways. These technological advances allow Elevate to use additional resources when making a decision to grants loan, other than the traditional use of credit scores. The Sarder TV interview with CEO Ken Rees provides an insiders view of the online consumer financial lending industry and demonstrates the importance of learning, technology and innovation to company success.

Sarder TV offers provoking, educational and candid interviews so that new entrepreneurs and aspiring business people can learn from them. The database is part of the international Learning Movement created by Russell Sarder to help spread knowledge and inspire a passion in lifelong learning. Operating on the premise that motivated individuals can learn from the experience, the success and the mistakes of others, Sarder TV provides a unique opportunity to see and hear influential personalities talk about the subjects that matter to them. Some of the past interviewees have included Ira Neimark, former CEO of Bergdorf Goodman, Susan Davis, CEO of BRAC USA, and Dan Hoffman, President and CEO of M5

Don’t miss this compelling and informative interview with Ken Rees at Sarder TV.

Sarder TV seeking additional leaders for interviews

Sarder TV is also seeking leaders to interview and is targeting leaders from Fortune 500 companies, and exceptional public figures like Bill Clinton, Oprah Winfrey, Jim Collins, Bill Gates, Warren Buffet and many more. According to the National Venture Capital Association, more than 30 percent to $ 600 million this year has been invested in Web-based education. For investors seeking an opportunity to participate in a multimillion dollar idea Sarder TV presents an excellent investment and is actively seeking investors. Several investors have already expressed an interest in this innovative idea. Investors interested in becoming a part of Sarder TV are invited to get in touch as well, contact us at here.

About Sarder TV

Sarder TV is a learning channel that contains a series of exclusive educational interview videos from top leaders in their industries, as well as motivational videos encouraging our public to succeed in their personal and professional lives, and many more. Russell Sarder, CEO of Sarder TV, has interviewed a series of leaders, who have shared their experiences and how they were able to achieve their success. Some of the names that Sarder has interviewed are: Ira Neimark, former CEO of Bergdorf Goodman; Russ Edelman, co-author of Nice Guys Can Get the Corner Office, Dan Hoffman, and David Hershfield, SVP Online Technology at RedCats.


Related Interest Rates Press Releases

SubscriberWise Chief to CFPB and Consumers Everywhere: Each of Us has Profound Control over Our Credit Reports and FICO Scores

Massillon, OH (PRWEB) April 26, 2015

SubscriberWise®, a leading provider of analytics driven subscriber decision management technology and the largest issuing consumer reporting agency for the communications industry, announced today that the company president is offering new advice, credit suggestions, and decades’ insight to the CFPB and the nation’s credit consuming population.

“Conspiracy theorists and others love to perpetuate the notion that credit scores are mysterious, secretive, and impossible to understand or control,” argued David Howe, FICO professional, child identity theft expert, and SubscriberWise CEO. “They’re none of the above. Rather, they’re complex. Extremely complex, in fact. And they’re based, in large part, on highly refined mathematical models that rely on millions of consumer credit files for empirically derived, scientific outcomes: outcomes that are not only regulated, but that are retrospectively correlated to payment performance metrics that often span multiple decades.

“Undoubtedly, transparency and access to accurate information and education concerning credit scoring did not exist in the past. The lack of information certainly contributed to the hysteria, fear, and ignorance that grew out of the emerging technology,” continued Howe. “Sadly, much of the same continues to surround scoring models today. However, unchanged are the fundamental behaviors (i.e. paying bills on time and low credit card utilization) that generated high scores in the past. These same behaviors, they remain true and predictive today just as they did in the past.

“Fortunately inadequate information is no longer a reality or concern for consumers. Collectively we should bestow individual consumers, watchdog groups, regulators, and others our appreciation and gratitude for the vast and open information that is widely available today.

“Everything a consumer needs to obtain super-prime credit ratings – across every credit scoring model on the market – exists on a myriad of commercial sites; this same information can be found here, http://www.consumerfinance.gov/askcfpb/318/how-do-i-get-and-keep-a-good-credit-score.html, on the taxpayer-owned Consumer Financial Protection Bureau’s website,” said Howe.

In addition to the well known guidelines – which together are sufficient for achieving and maintaining favorable credit – there are a number of other little-known suggestions for consumers who may have unexplained or significant scoring variations among different models and/or repositories. Following are many of the common-sense and well known guidelines for achieving and maintaining excellent credit:


Pay as agreed. Although life events, medical and economic hardships, and myriads of financial circumstances make this impossible for millions of consumers, paying bills on time is the single most important factor in the calculation of a credit score
Don’t get close to credit limits, particularly if you’re going to apply for new credit and a high score is essential to obtain the most favorable terms/approval. Fact: Howe generated simultaneous perfect FICO and Vantage scores across each repository with credit utilization below 5 percent of total available credit, among many other maximum scorecard indicators. It is proof that credit scores can be mastered without knowledge of advanced mathematics and without FICO’s proprietary credit scoring formula.
Apply for credit as needed. Fact: Howe’s most recent revolving credit card account was opened nearly one decade ago.

In addition to the above (particularly true for consumers who have scores that vary significantly), Howe provides these other important suggestions:

Compare credit reports. Determine, for example, if a tradeline (i.e. a ten year old revolving bankcard that’s been paid perfectly and includes a substantial line of credit) is reported to each of the national credit repositories: Equifax, Experian, and TransUnion. A missing tradeline that is not reported can have a significant negative impact on the calculation of a credit score. Fact: A colleague of Howe’s learned that his credit union failed to report his long and perfect-paid revolving credit card account to TransUnion. The net result was a significant loss of points because of the missing information. Once the account was finally reported, the score increased to a super-prime rating. Fact: Consistent credit data yields consistent credit scores: https://www.youtube.com/watch?v=4sny-172p9Q
Pay close attention to score reason factors contained on risk based pricing notices and credit score disclosure notices in particular. For example, a reason factor that indicates “too many accounts with balances” can mean 1 (one) too many. Fact: 1 (one) revolving balance with a small amount owed relative to the available credit is the best possible scenario for consumers with FICO scores above 760; this is also probable among every FICO scorecard. Fact: Reason factors are vague and do not always translate into the everyday human lexicon. Fact: A reason factor of “no recent bankcard or revolving balances reported” means that no balance is reported at the moment the score is generated. For example, it may not matter if a balance was reported as recent as yesterday…if it’s not reported when the score is generated today.
Charge a balance on one revolving credit card before applying for a mortgage (particularly true for consumers who have an American Express or other travel and entertainment charge card). Fact: FICO scores based on models used in mortgage underwriting are typically – perhaps always – not recent FICO models (i.e. FICO 8 or FICO 9). The older models treat Amex and T&E charge cards differently from the more recent models. Fact: A credit report that is scored and that also has no reported revolving balance with a favorable utilization ratio (< 6 percent is recommended) will result in a loss of points, even if the Amex or T&E account is reported with a balance. Fact: No bankcard balance reported will result in a loss of points for many – if not all – consumers. Fact: A credit card that contains an account number that starts with a 3 may be excluded from mortgage based FICO models regardless if the account is a credit card or a charge card (i.e. Bank of America branded Amex revolving credit cards).
Know your statement closing date and try to determine when the creditor reports the information to the repositories (generally once each month). Fact: This is tricky and it’s not always possible to know. It’s also not always consistent in terms of the date information is reported.

About SubscriberWise

SubscriberWise® launched as the first U.S. issuing consumer reporting agency exclusively for the cable industry in 2006. In 2009, SubscriberWise and TransUnion announced a joint marketing agreement for the benefit of America’s independent cable operators. Today SubscriberWise is a risk management preferred-solutions provider for the National Cable Television Cooperative.

SubscriberWise contributions to the communications industry are today quantified in the tens of millions of dollars annually.

David Howe is founder and president of SubscriberWise. He is also a consultant and credit manager for MCTV. At MCTV, Howe manages the bad debt and equipment losses on annual sales in excess of $ 60 million. During his 18-year career at MCTV, Howe has reviewed more than 50,000 credit submissions. His interest in credit began in 1986 while a 17-year-old student in high school.

Howe is the only known individual – living or deceased – to have obtained simultaneous perfect FICO 850 scores across every national credit bureau. Howe has also obtained simultaneous perfect Vantage scores at Equifax, Experian, and TransUnion.

Howe has obtained FICO Professional Certification and is also the first and only citizen of the world to describe and report the details of the perfect FICO and Vantage scores to U.S. reporters.

Howe produced and published two videos on the subject of perfect credit: FICO 850 Credit Report Facts and FICO Scores: The Facts. The first general-purpose FICO scores were debuted a quarter century ago.

SubscriberWise is a U.S.A. federally registered trademark of the SubscriberWise Limited Liability Co.

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SubscriberWise, 888-596-1119







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