How 2 working moms built a social network that raised $2 million in seed funding

In 2011, Katya Libin and Amri Kibbler both gave birth to daughters. Soon after, their idea for a business was born: HeyMama, a nationwide community of working moms. In January 2020, HeyMama announced it had raised $2 million in seed funding to continue growing. HeyMama founder Katya Libin. Katya Libin Co-founder of HeyMama3.


In 2011, Katya Libin and Amri Kibbler both gave birth to daughters.
Soon after, their idea for a business was born: HeyMama, a nationwide community of working moms.
In January 2020, HeyMama announced it had raised $2 million in seed funding to continue growing.
HeyMama founder Katya Libin.
Katya Libin Co-founder of HeyMama3.
How 2 working moms built a social network that raised $2 million in seed funding Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: gili malinsky, jen glantz
Keywords: news, cnbc, companies, funding, moms, libin, talk, heymama, help, kibbler, network, seed, katya, built, raised, social, working, build, million, business


How 2 working moms built a social network that raised $2 million in seed funding

In 2011, Katya Libin and Amri Kibbler both gave birth to daughters. Soon after, their idea for a business was born: HeyMama, a nationwide community of working moms. HeyMama came from the isolation they felt as new moms, before they met each other. “None of my friends had had kids,” says Libin. “I was working at a tech company. None of the guys on the team had been through this experience. And I just felt really lonely.” Both of the working moms knew they eventually wanted to pursue entrepreneurship. So in 2014, they teamed up to create the very community they’d needed as new moms — a social network where women could celebrate both motherhood and their careers, and where they could “talk about everything from diapers to deals,” says Libin. Today, the subscription-based platform — which costs $35 per month or $350 per year — boasts nearly 2,000 members. In January 2020, HeyMama announced it had raised $2 million in seed funding to continue growing. And the company’s success has allowed both to transition to HeyMama as a full-time job. Here are four pieces of advice Libin and Kibbler have for aspiring entrepreneurs who want to turn their side hustle into a full-fledged business.

HeyMama founders, from left: Katya Libin and Amri Kibbler. Photo by Stevi Sensin

1. Don’t go at it alone

“If you want to go fast,” says Libin, “go alone, but if you want to go far, go together.” Much like raising a child, the two say, building a business takes a village. Used wisely, your network can help you build your business. Let your friends know you’re about to embark on this entrepreneur journey and that you may need them for moral support, suggest Libin and Kibbler. When you’re reaching out to potential mentors you’ve never met, be clear about exactly how they could help you and your timeline. And when you meet new people, get to know them, because they have their own network of people you might benefit from knowing.

HeyMama founder Katya Libin. Photo by Stevi Sensin

2. Take advantage of free tools

“We started the company with literally $500 and an Instagram account,” Libin says. The two used every free or low-cost tool at their disposal to start building their business ― WordPress and Squarespace to create a website, email, phone calls, and FaceTime to talk to hundreds of potential members, and $300 to create a logo via 99designs. It’s a tactic they now recommend to other entrepreneurs looking to build out an infrastructure for their business. Other tools could include social media platforms like Twitter and Facebook, which are free and can help spread the word about your work; freelance marketplaces like Fiverr, which feature an array of affordable creatives who can help you with content creation; and resale sites like Decluttr, which let you buy used tech for considerably cheaper than it would cost to buy it new.

The only way to build community is by actually starting to build the community. Katya Libin Co-founder of HeyMama

3. Talk to your clients as much as possible

When the two were first figuring out what HeyMama’s business model was going to be, Libin and Kibbler spoke to hundreds of moms nationwide to see what was missing in their day-to-day lives. And it was through these conversations that they learned that women were looking for a place to talk about motherhood and build their careers. More specifically, they learned that moms wanted a subscription-based network with more opportunities to connect. “People telling us that they should be paying us for the services we’re offering,” says Kibbler, “really pointed us in the direction of the paid membership model.”

HeyMama founders Amri Kibbler. Photo by Stevi Sensin

4. Just get started


Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: gili malinsky, jen glantz
Keywords: news, cnbc, companies, funding, moms, libin, talk, heymama, help, kibbler, network, seed, katya, built, raised, social, working, build, million, business


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Mary Ellen Pleasant, one of the first black self-made millionaires, used an ingenious trick to build her fortune

Mary Ellen Pleasant may not be a household name, but her story rivals that of any great American entrepreneur. Indeed: Pleasant moved to San Francisco in 1852 during the Gold Rush (California entered the Union as a free, non-slavery state in 1850). The two bought shares of laundries, dairies, restaurants and even Wells Fargo Bank, which was founded in San Francisco in 1852. Before landing in San Francisco, Pleasant was married to a wealthy mixed-race merchant and abolitionist, who reportedly lef


Mary Ellen Pleasant may not be a household name, but her story rivals that of any great American entrepreneur.
Indeed: Pleasant moved to San Francisco in 1852 during the Gold Rush (California entered the Union as a free, non-slavery state in 1850).
The two bought shares of laundries, dairies, restaurants and even Wells Fargo Bank, which was founded in San Francisco in 1852.
Before landing in San Francisco, Pleasant was married to a wealthy mixed-race merchant and abolitionist, who reportedly lef
Mary Ellen Pleasant, one of the first black self-made millionaires, used an ingenious trick to build her fortune Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: tom huddleston jr
Keywords: news, cnbc, companies, mary, underground, fortune, build, wealthy, ellen, slaves, servant, woman, trick, san, slavery, pleasant, selfmade, millionaires, ingenious, used, francisco


Mary Ellen Pleasant, one of the first black self-made millionaires, used an ingenious trick to build her fortune

Mary Ellen Pleasant may not be a household name, but her story rivals that of any great American entrepreneur. In the 1800s, Pleasant became one of the first African-American female self-made millionaires in the U.S. despite the significant obstacles she faced as black woman. Pleasant employed her inherent savvy, building a massive investment portfolio that was reportedly worth as much as $30 million at one time — a fortune that would make her close to a billionaire in today’s value. She put her fortune to use aiding abolitionist causes across the country while helping slaves escape through the Underground Railroad and settle down in free states. Here’s her story.

How she built a fortune

Born in 1814 (some biographers say she was born into slavery on a Georgia plantation, though she claimed to have been born free in Philadelphia), Pleasant was separated from her parents at a young age and sent to work as a domestic servant for a white family in Massachusetts, where slavery had essentially been illegal since the end of the 18th Century. It was there that she learned to read and write and work in a shop, but she never had a formal education. “I often wonder what I would have been with an education,” Pleasant said in an autobiography published in 1902. “I have let books alone and studied men and women a good deal.” Indeed: Pleasant moved to San Francisco in 1852 during the Gold Rush (California entered the Union as a free, non-slavery state in 1850). There she worked as a domestic servant and chef for wealthy businessmen. White, wealthy men would have been dismissive of an African-American woman in their midst, and Pleasant took advantage of that, according to The New York Times. Pleasant used her proximity and anonymity to pick up countless valuable investing tips by listening in on her employers’ conversations. In fact, one historian posits the possibility that Pleasant worked as a domestic servant specifically to pick up on investment advice and juicy gossip. “It’s quite possible that the jobs she had as a domestic were a cover that she was using because she clearly made her money from investments,” Lynn Hudson, who wrote the 2003 biography “The Making of ‘Mammy Pleasant,'” told The New York Times. Pleasant reportedly earned roughly $500 a month as a cook when she first arrived in San Francisco at the age of 38, and invested much of her salary and her savings in real estate and other opportunities she overheard, including gold and silver mines. She also bought various local businesses, starting with laundries. By the 1860s, Pleasant was the owner of a prosperous chain of laundry businesses and a series of boarding houses — where she still often disguised herself as a servant to be more easily overlooked.

Pleasant also met a bank clerk named Thomas Bell who helped her pursue some of her investments as part of what would be a years-long business partnership forged in order to make both parties extremely wealthy. In order to avoid discrimination, or simply questions about how a black woman could accumulate a substantial fortune, Pleasant reportedly put many of her investments in the name of Bell, who was white, according to The New York Times. The two bought shares of laundries, dairies, restaurants and even Wells Fargo Bank, which was founded in San Francisco in 1852. Some historians estimate their combined fortune eventually totaled more than $30 million (a sum that would be equal to roughly $864 million today, based on inflation). As a wealthy African-American woman in the 1800s, Pleasant didn’t exactly flaunt her wealth — but she didn’t hide it, either. She built a 30-room mansion worth roughly $100,000 at the time (or about $2.4 million today) in the heart of San Francisco, in what is now the city’s wealthy Lower Pacific Heights neighborhood. In her biography, the historian Lynn Hudson describes the estate as “a lavishly furnished multistory Victorian mansion with large grounds.” Pleasant lived in the mansion along with Bell and his family, though she also acquired various other properties through the end of the century, including a 985-acre ranch in the Sonoma Valley northeast of San Francisco (a property that is now a vineyard with a bed and breakfast).

As a result she faced animosity and vicious rumors that painted her as merely Bell’s mistress and denigrated her boarding houses as brothels while claiming she practiced voodoo.

Supporting the cause

Throughout her life, Pleasant supported causes aimed at ending the practice of slavery, while also working with the Underground Railroad to help slaves escape to freedom. Before landing in San Francisco, Pleasant was married to a wealthy mixed-race merchant and abolitionist, who reportedly left her an inheritance when he died. (Pleasant married twice but had no children.) During the 1840s, Pleasant used it to help transport slaves to freedom in northern states and Canada as part of the Underground Railroad. Once in San Francisco, Pleasant continued to offer financial assistance to former slaves using the money her husband had left her as well as her own growing fortune. Pleasant often found jobs and housing for African-Americans who had escaped slavery via the Underground Railroad. As her fortune and standing in San Francisco society continued to grow, Pleasant publicly took on issues of civil rights, including suing two streetcar companies for racial discrimination. Those cases paved the way for the desegregation of the city’s streetcars while helping to earn Pleasant recognition as the “mother of civil rights” in California. Pleasant also put her money to use to help fund anti-slavery efforts. She admitted to sending $30,000 (more than $850,000 in today’s dollars) to abolitionist John Brown to fund his 1859 raid on the federal arsenal at Harper’s Ferry, an attempt to kick off a larger armed slave revolt in the Southern U.S., according to historian Lynn Hudson’s 2003 book.

She died in poverty


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: tom huddleston jr
Keywords: news, cnbc, companies, mary, underground, fortune, build, wealthy, ellen, slaves, servant, woman, trick, san, slavery, pleasant, selfmade, millionaires, ingenious, used, francisco


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How to lower your monthly bills 20% and build your wealth in minutes

According to Ben Kurland, co-founder of Nashville-based BillFixers , a company that negotiates with providers to help consumers and small businesses lower their monthly bills, these types of companies expect customers will negotiate. Reducing expenses on monthly bills is one way to counteract this debt. Negotiating a lower rate for your monthly bills could put thousands back in your pocket each year. “If you know what the prices are of the competitors in the area, you can come better armed when


According to Ben Kurland, co-founder of Nashville-based BillFixers , a company that negotiates with providers to help consumers and small businesses lower their monthly bills, these types of companies expect customers will negotiate.
Reducing expenses on monthly bills is one way to counteract this debt.
Negotiating a lower rate for your monthly bills could put thousands back in your pocket each year.
“If you know what the prices are of the competitors in the area, you can come better armed when
How to lower your monthly bills 20% and build your wealth in minutes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-10  Authors: barbara booth
Keywords: news, cnbc, companies, lower, really, monthly, bill, build, wealth, minutes, ben, bills, say, rate, negotiate, going, thats, getting


How to lower your monthly bills 20% and build your wealth in minutes

“We are both very cheap naturally,” said Ben. “We were negotiating our own bills, and we realized we had all these friends and family who were getting taken advantage of and overcharged but they didn’t have the time or the patience to deal with waiting for hours on hold and getting hung up on and getting lied to.”

According to Ben Kurland, co-founder of Nashville-based BillFixers , a company that negotiates with providers to help consumers and small businesses lower their monthly bills, these types of companies expect customers will negotiate. “They base their pricing off the premise that they are going to charge a really high rate and that you are going to call and negotiate it down, but a lot of people don’t realize that’s how it works, so they end up paying that really inflated rate,” he says.

Reducing expenses on monthly bills is one way to counteract this debt. Unfortunately, most people don’t know they can vie for better rates, and if they do, the odds are stacked against them if they don’t know precisely the right questions to ask.

Negotiating a lower rate for your monthly bills could put thousands back in your pocket each year. That’s a big win for many Americans, since nearly 25% say that paying for basic necessities such as rent, utilities and food have plunged them deep into credit card debt. Collectively, Americans owe more than $1 trillion on credit cards alone.

1. Do your research. “If you know what the prices are of the competitors in the area, you can come better armed when you negotiate,” says Ben. “So if the rep tells you that you already have the absolute lowest rate, you can say you found a competitor online for $30 less.”

2. Call between 9 a.m. and 5 p.m. “People are used to calling their cable or internet provider after hours or on weekends when they have free time, but that’s when everyone else is calling.,” says Ben. He suggests calling during regular business hours when the reps aren’t as overwhelmed and your hold time is minimal.

3. Say you are canceling your service. Telling the automated system that you are canceling your service will immediately take you to the retention or loyalty department, and those are the best people to negotiate with, says Ben. “Retention or loyalty departments tend to have access to some of the best discounts. If you speak to somebody in customer service or in billing or in technical support, they have really limited access to the discounts and promotions that are available . But if you go through the process like you’re canceling, those people have all sorts of special deals and they will try to entice you to stay,” he says.

One pitfall he says to avoid, however, is getting talked into additional services under the pretense that it will save you money. “Every cable company wants to sell you on additional services. The most common ploy is that you’ll call and ask for a lower rate and they will say if you add a landline, you will lower your bill. That’s almost never worthwhile.” Ben says there are two problems with that. “One is cable companies will always tell you the prices before taxes and fees, but services like TV come with as much as $30 of taxes and fees that you wouldn’t have with an internet-only bill. The other problem is that after a year, when your promotion expires, instead of $79.99 a month, you are going to $129 a month of TV and internet services.”

3. Always be friendly. “It really is true that you catch more flies with honey than vinegar,” says Ben. “The reps for these companies basically have total control which discounts and promotions they are going to offer you, so if you are one of the people who calls up and screams at them and throws a fit, they are going to say, ‘I’m sorry, but there’s nothing we can do.'” Instead, he says, start by asking them about their day and having a friendly conversation. This will usually compel them to go out of their way to find a special promotion that might apply to your account.

4. Be skeptical. “Reps, in general, tend to make a lot of mistakes when you are negotiating your own bill, and they will also flat-out lie to you. So when you get told there’s nothing better they can do, it’s worth your while to call back and try again. Even if you get told there are savings, it’s very common for someone to get their next bill and find absolutely nothing has changed.” Ben suggests that after you call and negotiate a bill, call a second time and speak to someone different to make sure they tell you all the same details. “Then you don’t have to wait a full month to find out you didn’t save any money,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-02-10  Authors: barbara booth
Keywords: news, cnbc, companies, lower, really, monthly, bill, build, wealth, minutes, ben, bills, say, rate, negotiate, going, thats, getting


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Amazon says it will create 15,000 jobs in Bellevue, Washington, and build its biggest tower ever

Amazon will hire more than 15,000 employees in the Seattle suburb of Bellevue, the company said Thursday. Amazon said it expects to bring the 15,000 jobs to Bellevue over the next few years. More than 2,000 employees currently work in Bellevue, and the company has about 700 job openings in the city. The company opened its first office building in Bellevue in 2017. So far, Amazon has hired 400 employees to work out of leased offices in Crystal City, Virginia.


Amazon will hire more than 15,000 employees in the Seattle suburb of Bellevue, the company said Thursday.
Amazon said it expects to bring the 15,000 jobs to Bellevue over the next few years.
More than 2,000 employees currently work in Bellevue, and the company has about 700 job openings in the city.
The company opened its first office building in Bellevue in 2017.
So far, Amazon has hired 400 employees to work out of leased offices in Crystal City, Virginia.
Amazon says it will create 15,000 jobs in Bellevue, Washington, and build its biggest tower ever Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-06  Authors: annie palmer
Keywords: news, cnbc, companies, company, office, seattle, jobs, washington, create, build, tower, expects, work, city, employees, bellevue, amazon, biggest, building, 15000


Amazon says it will create 15,000 jobs in Bellevue, Washington, and build its biggest tower ever

Amazon will hire more than 15,000 employees in the Seattle suburb of Bellevue, the company said Thursday. Many will work out of the new tower the company is building there.

Planning for the 43-story tower, its tallest yet, is currently underway. Amazon’s plans for the proposed building, referred to as Bellevue 600, were unveiled last July. The building will have about 1 million square feet of office space and is expected to be completed by 2024.

Amazon said it expects to bring the 15,000 jobs to Bellevue over the next few years. More than 2,000 employees currently work in Bellevue, and the company has about 700 job openings in the city.

The company opened its first office building in Bellevue in 2017. The city is also where Amazon got its start. Amazon CEO Jeff Bezos founded the company in 1994 out of a 1,540-square-foot house in West Bellevue.

Amazon, which is headquartered in nearby Seattle, has continued to expand there despite rising tensions with local officials. Last month, the Seattle City Council passed a bill that establishes new restrictions on corporate donations in local elections, which serves as a blow to Amazon, after it donated a record $1.5 million into Seattle’s city council races in 2019. Additionally, Seattle city council member Kshama Sawant has recently reignited efforts to enact a “head tax” on the city’s largest companies, such as Amazon, with the goal of using it to fight Seattle’s housing crisis.

The company has been growing its overall headcount and footprint. In its annual filing submitted last week, Amazon disclosed that it now has 798,000 workers across the globe, which is a 23% increase from the year-ago period. On the company’s fourth-quarter earnings call, Amazon CFO Brian Olsavsky said some of the hires were delivery workers, as it builds out one-day and same-day delivery for Prime subscribers.

Amazon is also growing in New York, where it recently signed a deal to lease more than 335,000 square feet of office space in Hudson Yards and expects to hire more than 1,500 employees. The move comes after Amazon abandoned its efforts to build a second headquarters in New York’s Long Island City neighborhood.

The company is also expanding operations in northern Virginia, where it’s building its second headquarters, dubbed HQ2. So far, Amazon has hired 400 employees to work out of leased offices in Crystal City, Virginia. It also plans to bring 5,000 jobs to Nashville, Tennessee, where it expects to build two towers.


Company: cnbc, Activity: cnbc, Date: 2020-02-06  Authors: annie palmer
Keywords: news, cnbc, companies, company, office, seattle, jobs, washington, create, build, tower, expects, work, city, employees, bellevue, amazon, biggest, building, 15000


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SpaceX restarts negotiations to build its Starship rockets in the Port of Los Angeles

A SpaceX facility under construction in this aerial photograph taken in April 2018 above the Port of Los Angeles. The new rocket factory would build SpaceX’s massive, next-generation rocket called Starship. SpaceX is talking to government officials about building a major manufacturing facility in the Port of Los Angeles, CNBC confirmed on Wednesday. This deal would add 18 acres in the heart of the Port of L.A., on Terminal Island. Port of Los Angeles spokesman Phillip Sanfield confirmed that neg


A SpaceX facility under construction in this aerial photograph taken in April 2018 above the Port of Los Angeles.
The new rocket factory would build SpaceX’s massive, next-generation rocket called Starship.
SpaceX is talking to government officials about building a major manufacturing facility in the Port of Los Angeles, CNBC confirmed on Wednesday.
This deal would add 18 acres in the heart of the Port of L.A., on Terminal Island.
Port of Los Angeles spokesman Phillip Sanfield confirmed that neg
SpaceX restarts negotiations to build its Starship rockets in the Port of Los Angeles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-30  Authors: michael sheetz
Keywords: news, cnbc, companies, negotiations, build, angeles, deal, restarts, rocket, rockets, starship, los, spacex, buscaino, texas, facility, port


SpaceX restarts negotiations to build its Starship rockets in the Port of Los Angeles

A SpaceX facility under construction in this aerial photograph taken in April 2018 above the Port of Los Angeles.

“We know the significance of building Starship in San Pedro,” Buscaino told CNBC. “If San Pedro is good enough for Elon Musk , then it will be good for other innovators.”

The new rocket factory would build SpaceX’s massive, next-generation rocket called Starship. But the deal itself is not entirely new: The company already had approval to build the facility in 2018, with the city and port signing off on a 10-year lease at $1.4 million per year. But SpaceX backed out last year, a move that L.A. City Councilman Joe Buscaino said “was just crushing” given the city’s high hopes for redeveloping the port.

SpaceX is talking to government officials about building a major manufacturing facility in the Port of Los Angeles, CNBC confirmed on Wednesday.

BOCA CHICA, TX – SEPTEMBER 28: Space enthusiasts look at a prototype of SpaceX’s Starship spacecraft at the company’s Texas launch facility on September 28, 2019 in Boca Chica near Brownsville, Texas.

SpaceX already leases more than 8 acres of land in the outer harbor of San Pedro. Yet the company largely uses those grounds as a transition point for when its rocket boosters land on a barge and need to be shipped back to SpaceX headquarters near Los Angeles International Airport. This deal would add 18 acres in the heart of the Port of L.A., on Terminal Island.

SpaceX declined CNBC’s request for comment on the discussions. Port of Los Angeles spokesman Phillip Sanfield confirmed that negotiations were ongoing with SpaceX but declined to comment further.

The Daily Breeze, a local L.A. daily newspaper, first reported the news.

Buscaino said that SpaceX CFO Bret Johnsen came to his office two weeks ago and apologized for backing out of the deal the first time, adding that SpaceX had a new vision for how to continue developing Starship. The rocket, designed to be fully reusable and carry as many as 100 people to space, has so far been built and tested at SpaceX facilities in Texas and Florida. But the majority of SpaceX’s more than 6,000 employees work at its headquarters within driving distance of the Port of L.A., so Buscaino believes it’s a natural addition for the company.

“I’m happy to know that Brett saw that it is fitting today, that it is a good business decision to keep its employees in the area,” Buscaino said.

According to the councilman, the new factory would bring 300 jobs – more than two-thirds of which would come from SpaceX HQ. Additionally, Buscaino said Johnsen pushed to see how quickly a new agreement could be drawn up. The facility itself would be a large tent-like structure, similar to those used when Tesla was ramping production of its cars in recent years.

“They want to be up and running within the next 90 days,” Buscaino said.

The Port of L.A.’s commissioners will discuss the permit next Thursday, with a deal coming as soon as the commission’s Feb. 20 meeting.

“We have daily calls with SpaceX and the city entities just to make sure that we’re continuing to be on the same page,” Buscaino said. “This would be a long-term lease agreement with SpaceX, with the investment coming from SpaceX itself.”

The port would provide SpaceX with immediate access to water, key to transporting its immense rocket from a production facility to launch sites in either Texas or Florida. SpaceX currently moves Falcon 9 rockets across the highway on super long trucks, but Starship and its “Super Heavy” booster would be too large to transport on the road.

Buscaino personally is a fan of Musk’s, writing in a tweet that the billionaire “is the modern-day Henry Ford, Leonardo Da Vinci, and Howard Hughes all rolled into one.”

“My message to Elon Musk and other innovators: If you want to try something new, come to my district,” Buscaino said. “We won’t get in the way.”


Company: cnbc, Activity: cnbc, Date: 2020-01-30  Authors: michael sheetz
Keywords: news, cnbc, companies, negotiations, build, angeles, deal, restarts, rocket, rockets, starship, los, spacex, buscaino, texas, facility, port


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How to build credit and achieve a good credit score

When you have good credit, you increase your qualification odds for credit cards and receive some of the best interest rates on various credit products. Below, CNBC Select reviews credit score basics and credit building tips that can help improve your credit score over time. How to build creditUnderstand what is a credit scoreLearn how credit scores are calculatedPay bills on time and in fullMaintain a low utilization rateLimit new credit applicationsAlternative ways to build creditWhat is a cre


When you have good credit, you increase your qualification odds for credit cards and receive some of the best interest rates on various credit products.
Below, CNBC Select reviews credit score basics and credit building tips that can help improve your credit score over time.
How to build creditUnderstand what is a credit scoreLearn how credit scores are calculatedPay bills on time and in fullMaintain a low utilization rateLimit new credit applicationsAlternative ways to build creditWhat is a cre
How to build credit and achieve a good credit score Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-27  Authors: alexandria white, elizabeth gravier
Keywords: news, cnbc, companies, achieve, build, youre, cards, balance, griffin, good, card, credit, utilization, scores, score


How to build credit and achieve a good credit score

Achieving a good credit score is essential if you care about your overall financial health. When you have good credit, you increase your qualification odds for credit cards and receive some of the best interest rates on various credit products. But building good credit doesn’t happen overnight. Instead, you need to consistently practice responsible credit behavior, such as paying bills on time and limiting debt. “Building a credit history takes time, so it’s a good idea to start early so credit is there to work for you when you need it,” Rod Griffin, director of public education for Experian, tells CNBC Select. Below, CNBC Select reviews credit score basics and credit building tips that can help improve your credit score over time.

How to build credit

Understand what is a credit score

Learn how credit scores are calculated

Pay bills on time and in full

Maintain a low utilization rate

Limit new credit applications

Alternative ways to build credit

What is a credit score?

Your credit score is three-digit number, ranging from 300 to 850, that is the result of an analysis of your credit file. Lenders use your credit score to judge your potential credit risk and ability to repay loans. Credit score ranges vary based on the model used (FICO versus VantageScore) and the credit bureau (Experian, Equifax and TransUnion) that pulls the score. FICO scores are used in 90% of lending decisions, so those ranges are listed below, using estimates from Experian. Very poor: 300 to 579

300 to 579 Fair: 580 to 669

580 to 669 Good: 670 to 739

670 to 739 Very good: 740 to 799

740 to 799 Excellent: 800 to 850 Take action: Check your credit score for free now

How are credit scores calculated?

Credit scores are calculated by looking at five key factors. Here are the key factors FICO considers. Payment history (35%): Whether you’ve paid past credit accounts on time Amounts owed (30%): The total amount of credit and loans you’re using compared to your total credit limit, also known as your utilization rate Length of credit history (15%): The length of time you’ve had credit New credit (10%): How often you apply for and open new accounts Credit mix (10%): The variety of credit products you have, including credit cards, installment loans, finance company accounts, mortgage loans and so on

Pay bills on time and in full

“Making payments on time and keeping your balances low are the two most important factors when it comes to building credit,” Griffin says. In fact, payment history is the most important factor making up your credit score. Your credit score considers whether you make payments on time or late and if you carry a balance month to month or pay it off in full. It’s a good idea to pay off your bill in full each month to avoid potential late payment fees, penalty APRs and interest charges that often result from carrying a balance. (Learn when a credit card payment is considered late.) “Before you open a credit account, you should know why you’re opening the account, what you will use it for and how you will pay the balance off,” Griffin says. As a rule of thumb, set up autopay for at least the minimum payment, so you can avoid unnecessary mishaps. You can also schedule email, text or push notifications through your card issuer.

Maintain a low utilization rate

“If your balances increase over time, your credit scores will suffer. Your utilization rate, or balance-to-limit ratio, is the second most important factor in scores, behind your payment history,” Griffin explains. To calculate your utilization rate, add up the total balances on all your credit cards and divide by the total of your credit limit across all cards. Let’s say you have two credit cards: Card A: $1,000 balance and $3,000 credit limit

$1,000 balance and $3,000 credit limit Card B: $3,000 balance and $5,000 credit limit Your total balance would be $4,000 and total credit limit $8,000. That makes your utilization 50%, which is high. You should aim for a low utilization rate around 30% to improve your credit score. “It’s important for consumers to remember, the lower your utilization rate, the better,” Griffin says. “While any balance can cause scores to decrease, utilization greater than 30% can cause scores to decrease more rapidly because of a much greater chance of default.” If you find it hard to keep track of the percentage of credit you use, take advantage of various alerts card issuers set, such as when your balance exceeds a certain amount or when you’re approaching your credit limit. If you have no problem paying your balance in full each month, you can also call your card issuer and ask them to increase your credit limit.

Limit new credit applications

“More isn’t always better when it comes to building credit,” Griffin warns. “Opening too many accounts at one time can make you look like a greater risk to a lender and have a negative impact on your credit scores.” Each time you apply for credit, an inquiry appears on your credit report, regardless if you’re approved or denied. This can temporarily lower your credit score by roughly five points, though it will bounce back in a few months. While one credit inquiry isn’t likely to hurt your score, the effect can add up if you apply for multiple cards within a short period of time. If you want to open more credit cards, consider doing it over time instead of within the same month. While there’s no number of credit cards that’s too many, it’s not wise to apply for several cards at once. It’s a good idea to space them out — I opened 10 credit cards over a span of five years.

Alternative ways to build credit

“Remember, credit cards aren’t the only option for building credit. If you have a personal loan, student loan, auto loan or mortgage, you’ll want to make sure you are managing these responsibly as well,” Griffin explains. Here are some alternative ways to build credit. Apply for a secured card If you struggle to get approved for a credit card, there are alternative options. You can consider secured cards, which are built for people looking to build or rebuild credit. A secured card is nearly identical to an unsecured card, but you’re required to make a security deposit (often $200) in order to receive a line of credit. The amount you deposit usually becomes your credit limit. With a secured card, such as the Discover it® Secured, you can build credit when using the card responsibly, then graduate to an unsecured card after responsible account management. Discover will review your account starting at eight months from account opening to see if you can get your security deposit back, which takes the guesswork out of wondering when you’ll qualify for an unsecured card. Become an authorized user Another option is to ask a family member or close friend to add you as an authorized user on their credit card account. This is a relatively low-risk way to build credit since you’re not responsible for bill payments and can simply piggyback off of someone else’s credit. Before you’re added as an authorized user, make sure the account owner has good credit. Get credit for paying eligible bills If you want to avoid credit cards altogether, you’re not out of options. You can get credit for paying monthly utility and cell phone bills on time with Experian Boost, which is free to use. “Two out of three people see instant increases to their credit scores with an average increase of more than 10 points,” Griffin says. “As you develop good credit habits overtime, you’ll be rewarded as your credit score responds positively.”

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.


Company: cnbc, Activity: cnbc, Date: 2020-01-27  Authors: alexandria white, elizabeth gravier
Keywords: news, cnbc, companies, achieve, build, youre, cards, balance, griffin, good, card, credit, utilization, scores, score


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Europe can build 5G network without Huawei, analyst says


Europe can build 5G network without Huawei, analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20
Keywords: news, cnbc, companies, network, analyst, europe, huawei, build


Europe can build 5G network without Huawei, analyst says


Company: cnbc, Activity: cnbc, Date: 2020-01-20
Keywords: news, cnbc, companies, network, analyst, europe, huawei, build


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Gary Cohn says Trump’s tariffs ‘totally hurt the United States’ and ‘collided’ with the tax cut

Former White House chief economic advisor Gary Cohn said Sunday that President Donald Trump’s tariffs hurt the U.S. economy and undermined the stimulative impact of the administration’s massive tax cut passed in 2017. Cohn, in an interview with CBS’ Face The Nation, said Trump’s steel and aluminum tariffs “collided” with his tax policy by undermining a provision that allowed companies to write off their capital expenditures. “I think it’s totally hurt the United States,” Cohn said, referencing t


Former White House chief economic advisor Gary Cohn said Sunday that President Donald Trump’s tariffs hurt the U.S. economy and undermined the stimulative impact of the administration’s massive tax cut passed in 2017.
Cohn, in an interview with CBS’ Face The Nation, said Trump’s steel and aluminum tariffs “collided” with his tax policy by undermining a provision that allowed companies to write off their capital expenditures.
“I think it’s totally hurt the United States,” Cohn said, referencing t
Gary Cohn says Trump’s tariffs ‘totally hurt the United States’ and ‘collided’ with the tax cut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-19  Authors: spencer kimball
Keywords: news, cnbc, companies, trumps, tariffs, states, white, collided, hurt, cut, gary, capital, totally, build, companies, cohn, steel, tax, united


Gary Cohn says Trump's tariffs 'totally hurt the United States' and 'collided' with the tax cut

Former White House chief economic advisor Gary Cohn said Sunday that President Donald Trump’s tariffs hurt the U.S. economy and undermined the stimulative impact of the administration’s massive tax cut passed in 2017.

Cohn, in an interview with CBS’ Face The Nation, said Trump’s steel and aluminum tariffs “collided” with his tax policy by undermining a provision that allowed companies to write off their capital expenditures.

“I think it’s totally hurt the United States,” Cohn said, referencing the tariffs. “[…]We’re missing a big component. We’re missing the capital expenditures from companies in the United States.”

Companies buy steel and aluminum to build factories and equipment, but the metal tariffs increased input costs and diminished the benefits of writing off these capital expenditures under the tax law, Cohn said.

“So all of the sudden, the advantages that we were trying to give companies to help stimulate the economy, to build facilities, to go out and hire people, to drive wages, we took away that advantage by taxing the input that they needed to build,” Cohn told CBS.

The former Goldman Sachs president played an instrumental role in formulating Trump’s tax policy, but he clashed with protectionists in the administration on the issue of tariffs. He also criticized the White House over Trump’s response to a white nationalist rally in Charlottesville, Virginia in which a civil rights activist was killed in 2017.

Cohn resigned from the administration in March of 2018.


Company: cnbc, Activity: cnbc, Date: 2020-01-19  Authors: spencer kimball
Keywords: news, cnbc, companies, trumps, tariffs, states, white, collided, hurt, cut, gary, capital, totally, build, companies, cohn, steel, tax, united


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Inside Kanye West’s struggle to build a Yeezy sneaker empire

Inside Kanye West’s struggle to build a Yeezy sneaker empireTo get their hands on a pair of Yeezys, people have camped outside shoe stores, hired freelancers to wait in line on their behalf, and used sneaker-buying bots to nab a pair online before they sell out in seconds. But recently, some of that excitement has turned to skepticism. Many are wondering aloud whether Yeezys “are dead.” Certain Yeezy models cost a lot less on the resale market than they used to. It turns out, this is all part of


Inside Kanye West’s struggle to build a Yeezy sneaker empireTo get their hands on a pair of Yeezys, people have camped outside shoe stores, hired freelancers to wait in line on their behalf, and used sneaker-buying bots to nab a pair online before they sell out in seconds.
But recently, some of that excitement has turned to skepticism.
Many are wondering aloud whether Yeezys “are dead.”
Certain Yeezy models cost a lot less on the resale market than they used to.
It turns out, this is all part of
Inside Kanye West’s struggle to build a Yeezy sneaker empire Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17
Keywords: news, cnbc, companies, used, wondering, wests, turns, turned, kanye, inside, struggle, sneaker, wait, empire, yeezy, pair, yeezys, build


Inside Kanye West's struggle to build a Yeezy sneaker empire

Inside Kanye West’s struggle to build a Yeezy sneaker empire

To get their hands on a pair of Yeezys, people have camped outside shoe stores, hired freelancers to wait in line on their behalf, and used sneaker-buying bots to nab a pair online before they sell out in seconds. But recently, some of that excitement has turned to skepticism. Many are wondering aloud whether Yeezys “are dead.” Certain Yeezy models cost a lot less on the resale market than they used to. It turns out, this is all part of West’s grand plan for his sneaker empire. Here’s how.


Company: cnbc, Activity: cnbc, Date: 2020-01-17
Keywords: news, cnbc, companies, used, wondering, wests, turns, turned, kanye, inside, struggle, sneaker, wait, empire, yeezy, pair, yeezys, build


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The key way to ‘get a salary increase,’ according to the author of ‘How to Create Your Own Luck’

Regardless of your title, your position, or how much is in your bank account, you can build a great network and develop contacts who can help you grow your career and earn more. The value of your network stems from connecting with people with different professions, backgrounds, cultures, titles, areas of expertise, and degrees of separation. For job and overall career growth, a great place to start is by building a strong internal network. This network is the one we build inside your workplace a


Regardless of your title, your position, or how much is in your bank account, you can build a great network and develop contacts who can help you grow your career and earn more.
The value of your network stems from connecting with people with different professions, backgrounds, cultures, titles, areas of expertise, and degrees of separation.
For job and overall career growth, a great place to start is by building a strong internal network.
This network is the one we build inside your workplace a
The key way to ‘get a salary increase,’ according to the author of ‘How to Create Your Own Luck’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: susan roane
Keywords: news, cnbc, companies, author, increase, key, create, inside, according, titles, career, value, workplace, salary, build, title, great, way, industry, network, luck


The key way to 'get a salary increase,' according to the author of 'How to Create Your Own Luck'

Regardless of your title, your position, or how much is in your bank account, you can build a great network and develop contacts who can help you grow your career and earn more.

Start by thinking expansively about the people in your professional and personal life. The value of your network stems from connecting with people with different professions, backgrounds, cultures, titles, areas of expertise, and degrees of separation. They can be industry experts, classmates, colleagues, cousins, people with titles or influence, as well as those who have none of the former — but just know other people and happen to be natural matchmakers.

For job and overall career growth, a great place to start is by building a strong internal network.

This network is the one we build inside your workplace and industry. It includes supervisors, management, co-workers, and, equally important, the support staff such as assistants, custodians, and receptionists. They give us access to the critical, and often overlooked, inside information that is passed along the “informal grapevine.”

All of this is key as you build your case for raises and promotions.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: susan roane
Keywords: news, cnbc, companies, author, increase, key, create, inside, according, titles, career, value, workplace, salary, build, title, great, way, industry, network, luck


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