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Charter Owes You Money + New Credit Score Factors for 2019

This is the final brief of 2018 as everyone takes time off to enjoy with family and friends. I want t
Charter Owes You Money + New Credit Score Factors for 2019
By Hipsternomics  • Issue #50 • View online
This is the final brief of 2018 as everyone takes time off to enjoy with family and friends. I want to express my sincere gratitude and thank you for joining me on this interesting mission to “make business news digestible again”, inviting me into your inbox weekly, giving feedback and sharing this brief with your friends. This final brief is a very short one, but read to the end to see the vision for 2019.

Me vibing to this new afrobeats mix
Me vibing to this new afrobeats mix
Top Stories
Experian, one of the three major credit-reporting firms in the U.S., will start factoring your phone bill and utilities payments into your credit score in early 2019. This could become an easy boost to potentially increasing the credit scores for people who have low or no scores because of their limited borrowing history from banks and lenders. For the new free service, Experian Boost, you will be able to link Experian to the bank accounts you use to pay your phone and utility providers, allowing Experian to track your monthly payments, however, for now it won’t track missed payments.
When one well dries up, dig up another hole - Since the 2008 financial crisis, most financial lenders have tightened their loan evaluation criteria, but that also means that the same banks are all competing for the small percentage of “most creditworthy” borrowers. So with limited supply of “high credit” borrowers to loan money to, some of these banks are now seeking customers with weak borrowing history as a new revenue stream. Fair Isaac Corp. (creators of the FICO credit score), is also planning to launching a new credit score in partnership with Experian that will factor in your history of managing your checking and savings accounts. Basically, if you keep a few hunnids in your account and don’t overdraw for at least three months, your FICO score will be getting incremental boosts each month.
What’s the takeaway? - When payments like rent, utilities and phone bills start getting factored into your credit score, this could improve the chances of getting credit cards, personal loans and auto loans, because banks sees this as a sign that you will pay other bills as well. But like all good deals, there’s a catch: If you stop paying those phone/utility bills for three consecutive months, Experian will delete that phone/utility bill account from your credit report, your score will then be recalculated, which could cause your score to drop.
Chart of the week
Be thankful for your shelter and warmth this holiday
Be thankful for your shelter and warmth this holiday
Interesting Quick Hits
Charter Spectrum owes New Yorkers $75 + free HBO for promising internet speeds that it couldn’t deliver. According to the New York attorney general, rented out modems and routers that couldn’t deliver advertised speeds and didn’t build enough network capacity to actually deliver those speeds. Charter will directly contact about 700,000 New Yorkers who leased its Wi-Fi router or cable modem and send them a cash refund of $75 each. As part of the settlement, Charter will also offer three free months of HBO or six free months of Showtime to 2.2 million customers, who receive its internet and TV service. Charter has agreed to pay out the refunds within 120 days.
Companies mentioned YTD: Charter -18%, FICO +13%.
Resources of the Week
Podcast: How Dollar Shave Club went from $0 to $1bn in 5 years on ‘How I Built This’ podcast. This is a very interesting interview on how to leverage your creativity at the right moment to create an opportunity.
Book Guide: The best books of 2018 for any kind of reader As Buzzfeed is great at creating all sort of lists for everything, so here’s a list of the best 2018 books across all genres.
What I’m reading: Thirst by Scott Harrison. This is about how the nonprofit organization, Charity Water, was created and became a $100 million organization, with a mission to bring clean water to the world.
This final brief was written at home in Brooklyn, while listening to “The Shrine” a new Afrobeats Spotify playlist I created, enjoy!
What to expect in 2019? We’ll be expanding Hipsternomics into a twice-a-week newsletter and a weekly podcast show, with the same mission to highlight the business news worth knowing, delivered in a digestible, relatable format, and discussing how it impacts us. Also bringing you more resources and insights from successful business leaders, creatives and entrepreneurs.
Wishing you and your family Merry Christmas and a Happy New Year! Thank you for being a part of this journey!
Valentine (@vtineike)
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