Review: CreditDemystified.com

Posted on 27. Apr, 2007 by in Credit & Debt, Real Estate

The following is a paid review of CreditDemystified.com.

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CreditDemystified is actually a site sponsored and presented by Countrywide Home Loans. The goal of CreditDemystified, other than to promote Countrywide Home Loan products, is to educate and inform anyone interested in credit or credit-related topics.

Lets break it down:

Looks:
As always, a site needs to make a good aesthetic first impression before I spend anytime looking beneath the surface. Call me shallow, but it’s true. When I first visited CreditDemystified, I didn’t really know what to make of it. From the homepage, I counted 4 large Countrywide Home Loan ads shouting “Call Now!” It was only later that I realized that they were not only an advertiser… but that they were the only advertiser. But, other than the huge banner ads asking you to call for a loan quote, the rest of the site is set up just like any other blog – with numerous posts under each of the categories – Improving Your Credit, Credit Learning Center, Credit Quotient Quiz, Credit Scores, Home Loans, and Library.

Amount of Content: If you couldn’t already tell by the number of “topics” that CreditDemystified covers, the site has information on just about everything related to Credit. I was impressed, however, with the way in which the site was organized – so that the amount of information wasn’t overwhelming. The site has not only a “Tag Cloud” on the homepage but the information is organized in an intuitive manner.

Let’s say that you were thinking about buying a car and needed some sort of loan. Simply click on Credit Learning Center and you’re presented with a laundry list of credit types – from Mortgages and Home Loans to Types of Business Loans. Drill down further into Auto Loans (for this example), and you’ll learn about the different types of auto loans and how to shop for one.

I should say that I was a little nervous about Countrywide Home Loan giving advice on how to shop for a loan – since the entire point of the website is to get you to take out a loan… from them. But I was impressed with the unbiased information they presented to users. The advice is practical, if not common sense.

Quality: If you’re looking for specific things you can do to improve your credit score after a bankruptcy… keep looking. But if you are interested in finding overall ways to improve your own credit score… this is the perfect place to start! Start by taking the Credit Quotient Quiz (I got a perfect 10!). You’ll get an idea of how much (or little) you know about credit. As a result, you’ll know where to start looking for more information. For example, did you know that you can get a free credit report from each of the three reporting agencies each year? Or do you know the definition of the word “Principal?” (I’ll give you a hint… it isn’t the man you visited during Elementary school)

One of the most interesting parts of the site is its Library. The library of CreditDemystified.com is unique in that it offers a number of PDF informational “guides” on popular credit topics. These guides would be perfect to email to a friend or family member who might be thinking of buying a house, or having credit problems. The library also includes a few podcasts on life-changing events that might alter your credit situation. However, I wish the site had built this section out a bit further – with more interesting podcasts and other PDF guides, it does provide a firm foundation for further study.

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