CREDIT SECURITY GROUP NEWS & EVENTS
CSG Warns of Trap For Credit Card Customers
“Many people will have their credit scores lowered this year if they’re not watchful, know what to do and take action,” said Eddie Johansson, president of Credit Security Group. Analysts predict many card companies will be canceling unused cards and lowering limits this year. ”This is how the trap will be set,” said Johansson.
Credit scores are used by most lenders to determine credit risk. Lower scores result in loss of credit and higher interest rates. Financial analyst predict cuts up to $2 trillion in credit card account lines over the next 18 months.
“This will have very bad consequences for consumers who are not prepared,” said Johansson.
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CSG President Presents At Bankers' Financial Literacy Summit
President Eddie Johansson presented "Understanding Credit Scores and Rescoring" to attendees of the Financial Literacy Summit in San Antonio in December.
Johansson's session focused on understanding credit reports and how to help bank customers become even more credit worthy. The session dispelled common misconceptions about managing credit, and provided guidelines for bankers and educators on how to counsel customers about their credit scores and how to understand and interpret their credit report.
This annual event is sponsored jointly by the Texas Bankers Association and the Independent Bankers Association of Texas.
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Analyst Rice Seminars Continue in Houston Area
Reggie Rice has more seminars on FICO credit scores and rescoring scheduled in the Houston area. The seminars are hosted by major title companies and mortgage firms in the area, including First American Title and Patriot Bank.
Rice has presented this educational and informational series six times this fall with more being scheduled each month. For more information, call Reggie Rice at (832) 392-7217.
For more information on CSG seminars, see the CSG Seminar Page; or to discuss scheduling a seminar, contact Eddie Johansson at 214-295-4459.
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Reggie Rice
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CSG Program at North Texas Association of Housing Providers' Year End Financial Clinic
CSG President Eddie Johansson will present "Take control to maximize your credit rating and FICO score - and those of your buyers" to this investor association on December 16th. Johansson says "The basic problem is: there is no 'Investor' check box for FICO scoring. At the end of the day, each investor is just another consumer - with too many homes.
Valuable advice for investors will be presented. To learn more, visit the website of the North Texas Association of Housing Providers.
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Rapid Rescore Application Development Completed
CSG programmers have completed the development of a new application to organize and administer rapid rescoring for CSG clients.
The new application joins CSG's system for analyzing credit lines and reports, and CSG's specialized software tool for credit analysts.
"Our in-house software development capability keeps us in the lead for analyzing, understanding, and dealing with credit score changes and developments for our clients," said President Eddie Johansson on the release of the new application.
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