Why you need to be familiar with your own credit score before making any big purchases
“People don’t realize how big of a proportion of their credit score that is. Payment history and credit utilization compared to total credit available are the two biggest factors in determining your credit score. The next factors that affect your credit score are length of credit history, new credit inquiries and diversifying your credit with a mix of credit cards and loans. Too much new credit at one time can affect your credit score negatively by adding hard inquiries to your credit report. You can check your credit score through Credit Karma, Credit Sesame, and Credit.com or other sites.
Money Monday: Saver’s credit
Rod Meloni is an Emmy Award-winning Business Editor on Local 4 News and a Certified Financial Planner™ Professional. Copyright 2020 by WDIV ClickOnDetroit - All rights reserved. For more information:Watch the video above. Here’s what to know about saver’s credit. If you need help with the Public File, call (313) 222-0566.
Coin shortage forces some shoppers to pay electronically
Geoff Aaron is like many customers at Meijer Grocery stores across Metro Detroit. Several stores have signs posted on their doors, for everyone to see. The signs say Due to the national coin shortage, self-checkout registers are electronic payment only. I dont, carrying cash now a days, especially with the, (you know) I mostly use my card anyways, said Aaron. While we understand this effort may be frustrating to some customers, its necessary to manage the impact of the coin shortage on our stores.