Entrust America Aims To Build Fairness In An Unfair Credit System

June 14, 2007 - PRLog -- America’s credit scoring system may not be as fair as it should be and an emerging company is making great progress to help consumers.

Your credit score plays a role in the house you live in to the car you drive and much more. It can affect everything from the cost of borrowing money, to your insurance rates and it even may determine whether you get a new job.

Ken Stoll, the President and CEO of Entrust America feels that every American needs to follow a simple approach. “First you need to know your score, then you can improve your score and finally you can protect your score. Amazingly, 80% of Americans do not know their credit score.” Mr. Stoll went on to say, “We give them the tools to find their score. Then we guide them through ways to improve their score, which is followed by a plan to protect their score”.

It seems that major financial institutions and insurance companies profit by charging higher rates to consumers with less than pristine credit scores. Yet there is little or no effort made to educate consumers. That’s where Entrust America hopes to make a difference.

While Americans generally believe that paying cash and avoiding debt is the key to personal financial success, many are surprised to discover this strategy is not as sound as it appears. With America’s major credit scoring systems, one must regularly use traditional credit services in order to build a credit history. However, an individual who pays recurring monthly payments by cash, check or debit card leaves behind no credit history. No credit history is largely judged as poorly as a bad credit history by most American lenders and financial institutions.

To solve this problem, Entrust America has developed a system to help consumers build a positive credit profile without relying on traditional credit services. The company has begun allowing consumers to receive credit for on-time rent and utilities payments.

According to industry sources, as many as 70 million Americans have personal credit data which is considered by lenders to constitute a ‘thin or no file’. With an adult population in the 150 million range, that means that close to half of all adults may have difficulty qualifying for a car loan or a mortgage or if they do, they will pay higher rates.

There is a lot to consider with your credit score and Entrust America is a company which appears to be taking solid steps forward on behalf of America’s consumers.

www.entrustamerica.com

www.myentrust.com

# # #

Primetime News delivers news, information, commentary and enhanced web visibility for newsworthy corporations, groups, and individuals. The internet is the place to share news and Primetime News is a simple, yet powerful tool to ensure that relevant news and information is made accessible across the country and around the globe.

Website: primetimenews.info