Tag Archives: covid

Now restrict the covid to imact your financial credit

 – Since the beginning of March, COVID-19 has turned millions of Americans’ financial situations upside down.

While the economy is showing signs of recovery, many Americans are still unemployed and having to dip into their savings to cover basic living costs. To that end, the question remains: How do you protect your credit score? Read on for some tips.

• Contact your lender aas soon as possible if you can’t make a payment. On-time payments are the largest factor affecting your credit score. Many lenders continue to offer emergency support such as deferral or forbearance options that may allow you to reduce or suspend payments for a fixed period. However, if those terms are set to expire soon, you should “call your lender to discuss what options are available,” says Rod Griffin, senior director of consumer education and advocacy for the credit reporting agency Experian.

• Look for ways to boost your credit score. If you have limited credit history, building credit can be challenging. Experian’s free tool, Experian Boost, can help raise your FICO score instantly by giving you credit for on-time utility, phone and streaming service payments.

This type of alternative financial data, known as “consumer-permissioned data,” allows you to manage your data with confidence and qualify for better credit. In fact, two out of three Experian Boost users see an increase in their credit score with an average increase of about 12 points. That’s enough to make a significant difference when applying for a loan or any type of credit.

• Consider getting a balance transfer credit card or one with an introductory offer. Handled responsibly, this actually has the potential to increase your credit score while either buying you time to pay off your debts or getting a “welcome bonus” of perhaps hundreds of dollars. If you’re looking for personalized credit card options, tools like Experian CreditMatch can help you get the right card based on your financial profile.

• Pay attention to your utilization ratio. Your credit score is based on your total balance-to-limit ratio (a.k.a. “utilization rate”). Adding a new credit card increases your total available credit. As long as your total credit balance remains the same, you’d be decreasing your utilization rate, which can potentially boost your credit score. Be sure to transfer balances to the card with lower interest and be mindful of temporary low interest rates.

While any balance can cause scores to decline, you should keep your utilization under 30 percent, both overall and on individual accounts. Shooting for a top credit score? “Keep your utilization in the single digits, or even better, pay your credit card balances in full each month,” says Griffin.

• Fight fraud by checking your credit report regularly.According to the Federal Trade Commission., there’s been a huge jump in attempted credit – and debit-card fraud since the pandemic hit; consumers have lost more than $100 million to COVID-19-related fraud

Youth is the worst hit prey of the panademic

in the devloping country like india the condition of the employment was not good the youth of the country was already struggling to his career and livlihood but this situation become worst when the world was hit by the panademic named covid 19 virus on december,31 in 2019. the world health organisation is continuously monitoring and respondinding to the pandemic.

as per the report published in the India times

India leads the world in teen age depression

in 4 youth one is depressed the percentage of depression is 25% .the depression destroying the creativity and efficiency of the youth how we can run our country with depressed engine it is a big problem but in the present senerio in our household we do not consider it as a big peroblem parents must take care the mental health of their young children the increasing sucidal cases is the outcome of the depression. the level of depression will increase exponenentially in the coming years because in this era of panademic students are not able to go colleges and eventually not learning the practical knoweledge this will decrease the productivity of the youth and would not be able to secure their dream jobs. we are not techniacally too advanced during online classe there is always problem of audio and video and the students gets incomplete knoweledge and with this incomplete knoweldege a sense of lack of confidence is developing and with lack of confidence a major section of youth is sunking in the depresssion youth is the main asset of our nation we must to take care of our youth

students to cope with this depression should do meditation and always try to get busy in new skills learning it is a difficult time it would definitely pass and the world become normal