Collaborating Authors

Column: Want to raise your credit score? Follow these two steps

PBS NewsHour

While only 35 percent of adults 30 and over don't have a credit card, a shocking 63 percent of millennials, those age 18 to 29, have yet to get a credit card, according to Bankrate. Millennials, it seems, are debt averse. But it'd be a mistake for millennials to avoid credit cards altogether, says Erin Lowry, author of "Broke Millennial: Stop Scraping By and Get Your Financial Life Together." That's because credit cards are one of the easiest ways to build good credit history. Below, Lowry lays out why a good credit report is important and how to raise you credit score.

New Credit Karma Platform Brings More Personalised


Tools designed to demystify and educate. UK fintech and free credit report provider has completed a radical overhaul of its web and app offering, bringing more tools and services to its members. With the aim of educating through personalised information and actionable steps – a key new market-leading feature is that the credit score is now broken up into eight main'credit factors'. Each of these factors can be explored and better understood, with the service offering practical guidance on improving these elements to ensure members can make positive financial progress. For example, when it comes to'credit utilisation' – the platform will explain that the most favourable use of credit is between 1-24% of total available credit and that anything over 75% can start to harm your score.

Standard & Poor's cuts China credit rating, citing debt

Los Angeles Times

The Standard & Poor's rating agency cut China's credit rating Thursday due to its rising debts, highlighting challenges faced by the country's leaders as they cope with slowing economic growth. The downgrade added to mounting warnings about the dangers of increasing Chinese debt, which has fueled fears of a banking crisis or a drag on economic growth. Moody's Investors Service cut its rating for China in May. S&P lowered its rating on China's sovereign debt by one notch from AA- to A, still among its highest ratings. The agency had given a warning sign of a possible downgrade in March 2016 when it changed China's outlook to negative.

School's Student-Run Credit Union Teaches Financial Literacy

U.S. News

WDAM-TV reports Columbia High School has partnered with Ferguson Credit Union to provide the union, which is one of only two student-run federal credit unions in the state. The president of the credit union's board of directors, Lynell James, says the business wants to help students learn about finance management before graduation.

Taking a look at the confusing world of credit scores

Los Angeles Times

Dear Liz: I was recently denied a credit card and told my score was 150 points lower than what my credit reports show. Am I being deceived by the credit reporting agencies? It was such a low number that it's a little hard to believe since I have been approved for other cards recently. Answer: The creditor that denied you should have told you which score it used and from which credit bureau in addition to the actual number. Lenders employ a variety of different scores, but most use some variation of the FICO formula.