Houston, TX -- (SBWIRE) -- 06/07/2016 -- Following the Great Recession, credit scores, credit cards and addressing debt of all types has taken on new significance, but many people don't know where to begin. Cafe Credit provides a wide array of information from industry experts on topics ranging from handling old debt and filing bankruptcy to disputing incorrect information and improving credit scores in 30 days or less.
"If you're deciding between paying off old debt and something more expectedly large – say, student loans – you should focus on catching up on the old, missed payments," said Nowak. "Paying extra money toward your student loan may sound appealing, but those old payments reflect poorly on your credit score. On our about page, we also provide free, high-quality creative commons photos that are credit-related."
Cafe Credit dispels myths about obtaining credit reports, steps to take for repairing bad credit ratings, preventative measures, and dealing with fraud. Identify theft is one of the fastest growing crimes worldwide, claiming more than 15 million victims each year in just the U.S. The data is used to deplete bank accounts, get loans, open new lines of credit, and even obtain healthcare coverage that ruins victims' credit.
There are three primary credit reporting agencies in the U.S. – TransUnion, Experian and Equifax. The data can vary widely between the three and the agencies don't share information with one another. The interest rate on loans and the amount individuals pay on their vehicle insurance is all tied to their credit score, but rates depend upon which credit reporting agency is consulted.
The amount of credit card debt that consumers are carrying has been reduced dramatically, but many people have cancelled their credit cards to avoid temptation. Few realize that cancelling a revolving line of credit can actually damage a credit rating and Cafe Credit shows readers how to mitigate the impact.
While credit card debt has decreased from previous years, student loan debt has continued to escalate. It's left individuals of all ages with significant debt that can't be discharged through bankruptcy, a move that can ruin credit ratings for 10 years or more.
Visitors can explore the Cafe Credit blog to learn about all types of credit, repossessions, and the best time to purchase a vehicle or obtain a mortgage. The site addresses a wide range of credit related topics to assist consumers in making informed decisions about their debt and financial health.
About Café Credit
Café Credit is a trusted source for information, data and insight about credit. Cafe Credit helps consumers make smarter financial decisions, save more money and ultimately, live a better life. Cafe Credit addresses topics, questions and concerns related to credit, loans, credit scores, credit cards, insurance and more.
Media Contact:
Simon Nowak
936-307-8858