The Shocking Number of Gen Z’ers That Don’t Know Their Credit Score

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Credello: A recent survey by credit.com found that 42% of Gen Z-ers don't know their credit scores. Does this mean a major problem for them when it comes time to borrow money, or does it signify a shift in how future generations think about credit?

Why doesn't Gen Z care about their credit scores?

Generation Z is the newest generation to enter the workforce and is taking a new perspective on how it views financial health. Previous generations saw their credit scores as a top priority for ensuring they could live comfortably.

But after watching the devastating economic fallout Millennials suffered, Gen Z has become more risk-averse to accruing debt. While their elders are searching for credit card refinancing and debt consolidation options, Gen Z'ers seem to be avoiding the idea of borrowing money altogether.

Consequently, the significance of a credit score doesn't hold as much weight, even though a low score can still affect your chances of renting a home and even entering some career fields. 

So which has to change, Gen Z's outlook on debt or the world they're entering?

Despite the interest, their credit scores are good

Interestingly, the data credit.com found in their surveys showed that their scores were surprisingly high despite Gen Z having less interest in their credit reports. 54% of those surveyed had credit scores between 799 - 850, averaging higher scores overall than Millennials and Gen X'ers. 

How the financial world is changing

It seems that the financial world is taking this priority shift from the younger generation seriously and is beginning to enact new ways to make credit reporting more relevant with the times:

  • The three main credit bureaus - Equifax, Experian, and TransUnion - have all agreed to remove some instances of medical debt from credit score calculations. 
  • "Buy Now, Pay Later" accounts, popular among younger consumers, will now be included in credit reports.
  • "Trended data" will take a higher priority in scoring calculations, giving your report a more thorough analysis of your buying and spending than the simple "snapshot" currently used.
  • Inclusion of rent, checking and savings account balances, and utility bill or streaming payments as optional data points. Currently, UltraFICO and Experian Boost are adding these as features to boost credit scores of those for whom mortgages and large personal loans are too far out of reach.
  • New scoring models with updated algorithms. Both FICO and VantageScores, the main scoring algorithms used by lenders, have been recently upgraded to account for economic changes and how people spend money.
  • New startup lending companies are leaning into the younger generation's financial habits by removing the significance of credit scores in their decision-making metrics and relying more on historical spending habits and the average amount of cash on hand. 

The bottom line

While there's still a long way to go before Gen Z's credit scores rival those of their elders, these changes show that the world is slowly starting to take them seriously and that it might be the corporations that need to adapt instead of the new consumers.

About Credello

Credello is a financial tech company offering personal finance tools that simplify financial decisions through personalized, on-demand recommendations — so users can borrow, save, or invest with confidence.

Credello believes that finding the right financial product should be as easy and interactive as online shopping, and we are on a mission to make that possible. For more information, please visit https://www.credello.com

Contact Information:
Keyonda Goosby
Public Relations Specialist
press@credello.com
(201) 633-2125


Original Source: The Shocking Number of Gen Z'ers That Don't Know Their Credit Score

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RedeemTV Announces New Documentary: ‘The Shroud Face to Face’
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Vision Video’s streaming platform RedeemTV is set to unveil the highly anticipated documentary The Shroud Face to Face on March 28, 2024.

The Shroud Face to Face, produced by The Nexus Institute and The Shroud LLC, is a captivating documentary that unravels the enigma of the Shroud of Turin. With cutting-edge technology and expert insights, the film provides a face-to-face encounter with this iconic relic, inviting audiences to delve into its history, authenticity, and the profound questions it raises.

This visually stunning film, based on the book The Shroud Face to Face by acclaimed author and filmmaker Robert Orlando, offers an immersive exploration of the centuries-old mystery surrounding the Shroud of Turin and has been endorsed with high praise.

"This is a compelling and convincing account of the single most fascinating relic in the Christian world. This is for anyone seeking to understand the significance and history of the Shroud of Turin.” — Bishop Robert Barron, founder of Word on Fire

'The Shroud Face to Face'

Watch Trailer: https://watch.redeemtv.com/trailer/the-shroud-trailer

RedeemTV is a FREE, donor-supported, Christian streaming platform with over 250,000 subscribers. Streaming more than 5,000 videos, it provides family-friendly content while continuing to spread the message of Jesus.

Vision Video is a leading DVD and film distributor, committed to bringing impactful and compelling stories to audiences worldwide. With a focus on cinematic excellence, Vision Video partners with filmmakers to showcase thought-provoking narratives that inspire and captivate.

The Nexus Media focuses on TV, motion pictures, books, and screenplays, along with award- winning documentaries and shorts. Our team has years of experience in media storytelling and developing well-crafted engaging content. We invite you to view some of our past projects, The Divine Plan and Silence Patton, and participate in our new initiatives.

Stream FREE on RedeemTV: https://redeemtv.com.

Find us on Facebook at https://www.facebook.com/RedeemTV.

Follow us on Instagram at https://www.instagram.com/redeemtv1.

Contact Information:
Danielle Tumminelli
Marketing & VOD Distribution Manager
danielle@visionvideo.com
484-750-2485


Original Source: RedeemTV Announces New Documentary: 'The Shroud Face to Face'

Scholars of Mandeville Grand Opening to Feature New Orleans Saints Superstar Cam Jordan

Scholars is celebrating the Grand Opening of its second tutoring location in the Greater New Orleans area Thursday, March 28th. This Thursday's event features NFL superstar Defensive End Cam Jordan of the New Orleans Saints. Cam, the Saints all-time sack leader and 8x pro-bowler, will be available to meet and inspire the students and families of the Mandeville community.

Scholars of Mandeville Grand Opening to Feature New Orleans Saints Superstar Cam Jordan
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Scholars is an award-winning franchise tutoring system, providing broad academic support to students K-12 in all subjects.

This Thursday, March 28th, Scholars will celebrate the grand opening of its new location in Mandeville, Louisiana. The event begins at 11:30 a.m. and will take place at 1901 U.S. Hwy 190, STE 27, Mandeville, La.

Scholars is proud to be cutting the ribbon of its second location in New Orleans. This week’s event will also feature some NFL star power as Cam Jordan of the New Orleans Saints will be making an appearance. Renowned throughout the NFL for his ferocious and creative pass-rushing, Cam, the Saints all-time sack leader and 8x pro-bowler, is both a student of the game of football and a big believer in the importance of education off the field. Cam will meet and inspire the students and families of the community alongside Scholars CEO Matt Baxter and other special guests. 

The event is free to attend and will feature giveaways, food from local vendors, face painting, pictures, games, and other surprises.

Scholars of Mandeville owner Ryan Fitzsimmons is excited to give back to his community and to provide students in the area with world-class tutoring. “I’m always willing and able to help kids,” Fitzsimmons said. “I’m a huge believer in Scholars because I’ve seen it work. It’s really amazing and I’m excited to be a part of it.” 

Scholars' first Louisiana location was opened in 2021 by another NFL star, 5x Pro Bowl Offensive Tackle Terron Armstead. Scholars of New Orleans has brought the joy of success in school to hundreds of students over the past three years and provides the template which Ryan Fitzsimmons seeks to follow.

Scholars, which is celebrating its 25th anniversary in 2024, has over 80 locations across North America. It uses its world-class curriculum and programming coupled with qualified, caring teachers to provide exceptional tutoring services for students of all ages. It has won the Canadian Franchise Association’s Franchisees’ Choice Award for nine consecutive years, while also boasting the Franchisee of the Year Award in 2023. The first location in the United States was opened in Brookhaven, Georgia, by Baltimore Ravens great Jamal Lewis, and the company also includes local New Orleans legend & former Saints superstar Mark Ingram. 

Scholars Education                                                         

400 Applewood Cres, Suite 100

Toronto ON, L4K 0C3

1-866-777-2131

info@scholarscanada.com

Contact Information:
Peter Dyakowski
Scholars Education
peter@scholarsed.com
1-888-901-7323
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Original Source: Scholars of Mandeville Grand Opening to Feature New Orleans Saints Superstar Cam Jordan
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