SOUTHFIELD (WWJ) – Credit reports and credit scores are the focus of a FREE financial fitness video webinar at noon Thursday, here at CBS Detroit.com.
Mark Munzenberger with GreenPath Debt Solutions says there are a lot of misunderstandings and myths.
“Really the purpose is to educate folks and get them understanding how to read it. And, at the end of the day how, credit scores can really have a very important impact on you financially and how expensive credit can be,” Munzenberger said.
Munzenberger said Thursday’s webinar will address issues faced by people with several credit cards.
“Sometimes when you actually close those accounts down it has a detrimental affect to your score. So, there are other strategies that folks can use to actually improve their score. Closing accounts is not necessarily something that folks should be doing,” he said.
Munzenberger said lenders are still being a little stingy when it comes to car loans and mortgages. But, he said lending for credit cards and other unsecured debt is loosening somewhat.