Seniors Need to Check Their Credit More Often
News from LoanSafe:

(Source: By Pamela Yip, The Dallas Morning News) – Seniors need to pay closer attention to their credit reports, according to the Society of Certified Senior Advisors.

An article in the latest issue of the CSA Journal said seniors need to pay as much attention to their credit scores as other age groups because they tend to have lower tolerance for risk, less future earning power, the potential to need large amounts of emergency medical care, and they have less time to recover from a financial loss.

In a pilot study, researchers at the University of Missouri–St. Louis, the University of Arizona and Fair Isaac Corp. sampled 134 individuals from U.S. households ranging in age from under 30 to over 60 years and reviewed their credit reports.

Unlike younger people who tend to pay attention to their credit rating in making the financial decisions that shape their future, only 1 in 4 seniors check their credit score, the senior advisers said.

“Our results from this study indicate that consumers in general, and senior citizens in particular, need to review their credit reports regularly,” says Thomas H. Eyssell, associate dean and professor of financ…………… continues on LoanSafe

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Related News:

Get your credit score bikini ready
News from Milwaukee Journal Sentinel:

(ARA) – Summer is here and Americans across the country are grappling with two of the season’s most compelling questions: First, is your body beach ready? Second, is your credit as buff-or better-than your bod?

Just as fitness is an ongoing process, whipping your credit into shape takes time, too. If you wait until the weather warms to start working out, you may be dissatisfied with the results. Likewise, you can’t ignore your credit score until the moment you really need it.

The same principles that can help you look good can help your credit score be its best, too. Practice good diet and exercise habits and you’ll look and feel better. Practice smart money management and your efforts will show in your high credit score.

Whether you’ll be buying a car this summer or applying for an apartment with a landlord who checks credit scores, here are a few steps that can help get your credit in shape for summer expenses.

* Get a checkup. Before you start any diet or exercise plan, you should consult your doctor. Before you begin working on (or working out) your credit, you need to understand the current status of your credit report and score. Luckily, you can do a personal credit checkup yourself, by getting your credit score and report online. Enrolling in a product like freecreditscore.com to continues on Milwaukee Journal Sentinel

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