Understanding Your Credit Score and How You Can Improve It
|
|
- Stella Rogers
- 8 years ago
- Views:
Transcription
1 Understanding Your Credit Score and How You Can Improve It
2 How is your score calculated? The exact formula is a mystery and protected by the Federal Trade Commission Think of it as a secret recipe. Credit Score scales generally range from 300 to 850 or 350 to 950. The higher the score, the better the credit risk The lower the score, the worse the credit risk
3 Why is your Credit Score important? Understanding credit scoring can help you manage your credit. By knowing how credit risk is evaluated, you can take actions that will lower credit risk, and you can raise your score over time.
4 How is your score calculated? (Cont.) Generally, a credit score of 719 is the average score of approved home loans (on the 850 scale). The market is moving to where you want to shoot for a score of 750 or above (on a 850 scale).
5 Your Credit Report Shows Debts and payment history with creditors: Loans with credit card companies, banks, department stores, and finance companies Whether bills were paid on time and proper amounts How much debt you currently have and if loans are not paid back History of tax liens, bankruptcies, and other public records even if they happened several years ago How often you have applied for credit in the past two years.
6 In the Secret Recipe Payment History = Approximately 35% of the score: Includes information from public records on bankruptcies, foreclosures, tax liens, etc. Number of months since most recent 30-day or higher level of delinquency reached. Highest level of delinquency reached in the last 12 months.
7 Past Payment History HIGH RISK LOW MONTHS SINCE MOST RECENT MAJOR DELINQUENCY
8 Recent Changes to the Model That May Affect Your Score One 30 day late payment hurts your score less than in the past, but More than one late payment, or even one late payment that rolls to 60 or more days will hurt your credit score even more!
9 In the Secret Recipe Outstanding Debt Utilization = 30% of your score: Average Balance on revolving accounts Percentage owed on revolving accounts Ratio of revolving debt to total revolving limits Percentage owed on open installment loans Note: Rule of thumb has changed from 50% triggering risk to anything over 30%!
10 Outstanding Debt Utilization HIGH RISK LOW RATIO OF TOTAL BALANCES TO TOTAL LIMITS ON REVOLVING ACCOUNTS
11 In the Secret Recipe History & Length of Credit = 15% of your score: Number of months since the oldest active revolving account opened Number of months since the oldest installment account opened Credit Surfing can be a problem
12 The Amount of Time Credit Has Been Established HIGH RISK LOW NUMBERS OF MONTHS SINCE OLDEST REVOLVING ACCOUNT OPENING
13 In the Secret Recipe Type of Credit Being Used = 10% of your score: Number of bank cards being used Number of retail or department store cards being used Number of finance company accounts
14 What is a Healthy Mix? A mix of credit cards, retail accounts, installment loans, and finance company accounts. It is not necessary to have one of each, and it is not a good idea to open credit accounts just to have them in the mix. The credit mix usually will not be a key factor in determining a score, but it will be more important if a credit report does not have a lot of other information.
15 In the Secret Recipe New Credit Inquiries = 10% of your score: How many inquiries impact the score Which inquiries impact the score Number of inquiries in the last 12 months
16 Top 10 Reasons for Low Credit Scores 1. Serious delinquency 2. Serious delinquency and public record or collection filed 3. Derogatory public record or collection file 4. Time since delinquency is too recent or unknown 5. Level of delinquency on accounts 6. Number of accounts with delinquency 7. Amount owed on accounts 8. Proportion of balances to credit limits on revolving account too high 9. Length of time accounts have been established 10. Too many accounts with balances **Note that the specific wording given by lender may be different from these.
17 Credit Scoring Example Credit scoring is a technology used by credit grantors to qualify the risk associated with extending credit to a given consumer. Characteristics Attributes Points # bankcard accounts or more # finance accounts # months in file <
18 To have an established Credit Score One account has to have been open for six months or more. Enough information and enough recent information in the report on which to base a score. Credit reporting agencies do not score any disputed accounts.
19 Why you might not have a Credit Score? You may not have any established credit history. For example, you may not have the type of credit that is typically reported to the credit bureau: Contract for Deed Rent Small banks that do not report to a credit bureau
20 What is your score used for? Approving New Accounts Application Instant Credit Approval Existing Account Management Increasing Lines Reissuing or Canceling Cards
21 Things that can hinder you from getting the best rate Bad debt: Late payments 30 days reported to credit bureau Large lines of credit Judgments and collections Too many cards Over your limit $ given
22 What is your score used for: Determining what RATE you pay Year/ Model Term FICO FICO FICO FICO FICO /2008 Up to
23 What is your score used for: Determining what RATE you pay Tier Level Score Program Pricing New Level Base Rate Level Base +.35% Level Base % Level Base % * Shown as an example only.
24 Home Loan Costs Representative Credit Score 60.00% % $ % % % % % 0.000% 0.000% 0.000% 0.000% 0.000% 0.000% % 0.000% 0.000% % 0.000% 0.000% % 0.500% 0.500% % 0.500% 0.500% % 0.500% 1.000% 1.500% 1.000% 0.750% 0.750% % 1.000% 2.000% 2.500% 2.250% 1.750% 1.750% % 1.250% 2.500% 3.000% 2.750% 2.250% 2.250% % 1.500% 3.000% 3.000% 3.000% 2.750% 2.750% % 1.500% 3.000% 3.000% 3.000% 3.000% 3.000%
25 How do people score? Above % 745 to % 690 to % 620 to % Below %
26 Your Credit Score is part of your Credit Report Your are entitled to 1 free credit report each year from each credit reporting agency However, there is generally an extra charge for your credit score ($5.95 to $6.95)
27 How do I get my Free Credit Report? Go to From this website you can access all 3 Credit Bureaus. Consultation with your local bank.
Taking Charge of Your Financial Future
Taking Charge of Your Financial Future Why is Your Credit Score Important? Understanding credit scoring can help you manage your credit. By knowing how credit risk is evaluated, you can take actions that
More informationFICO Score Factors Guide
Key score factors explain the top factors that affected your FICO Score. The order in which your FICO Score factors are listed is important. The first indicates the area that most affected your FICO Score
More informationInsurance Score Models
Insurance Score Models Prepared by State of Alaska Division of Insurance Department of Community and Economic Development www.dced.state.ak.us/insurance (907) 465-2020 Insurance Score Models Some insurers
More informationReason Statement Full Description Actions You Can Take or Keep this in mind
Factors Guide - Experian The consumer-friendly reason descriptions and actions a consumer can take (or things to keep ) below are provided for use within your FICO Open Access customer displays. The table
More informationIMPROVE YOUR CREDIT SCORE. Effective Credit Management At Your Fingertips
IMPROVE YOUR CREDIT SCORE Effective Credit Management At Your Fingertips Introduction In this ebook, you will get valuable information including: What is a credit score The score breakdown Managing your
More informationCredit Score Management Seminar. Manage, protect and improve your Credit Score!
Credit Score Management Seminar Manage, protect and improve your Credit Score! Overview What is a Credit Score How Lenders Use Your Credit Score How Your Credit Score Impacts You What Makes Up Your Credit
More informationUnderstanding Your Credit Score and Credit Report. George Williams, CPA, JD, LLM Ross, Rosenthal & Company, LLP June 21, 2012
Understanding Your Credit Score and Credit Report George Williams, CPA, JD, LLM Ross, Rosenthal & Company, LLP June 21, 2012 What is a Credit Score? What is a Credit Report? A credit score is a number
More informationUnderstanding your Credit Score
Understanding your Credit Score Understanding Your Credit Score Fair, Isaac and Co. is the San Rafael, California Company founded in 1956 by Bill Fair and Earl Isaac. They pioneered the field of credit
More informationHow to improve your FICO Score in perilous times By Blair Ball. National Distribution of FICO Scores
How to improve your FICO Score in perilous times By Blair Ball When you re applying for credit whether it s a credit card, a car loan, a personal loan or a mortgage lenders want to know your credit risk
More informationFICO Score Factors Guide - TransUnion
Factors Guide - TransUnion The consumer-friendly reason descriptions and things to keep in mind below are provided for use within FICO Open Access customer displays. The table includes a reason description
More informationEstablishing and maintaining good credit is an important part of financial planning. Typically most individuals do not have enough cash on hand for
Basics of Credit Establishing and maintaining good credit is an important part of financial planning. Typically most individuals do not have enough cash on hand for emergencies, or to make major purchases
More informationAbout credit reports. Credit Reporting Agencies. Creating Your Credit Report
About credit reports Credit Reporting Agencies Credit reporting agencies maintain files on millions of borrowers. Lenders making credit decisions buy credit reports on their prospects, applicants and customers
More informationManaging Your Credit Report and Scores. Apprisen. 800.355.2227 www.apprisen.com
Managing Your Credit Report and Scores Apprisen 800.355.2227 www.apprisen.com Managing Your Credit Report and Scores Your credit score is one of the most important aspects of your personal finances. From
More informationUNDERSTANDING YOUR CREDIT REPORT (Part 1) By Bill Taylor
UNDERSTANDING YOUR CREDIT REPORT (Part 1) By Bill Taylor Most studies about consumer debt have only focused on credit cards and mortgages. However, personal debt also may include medical expenses, school
More informationYour Credit Score. It s Not As Bad Or As Permanent As You May Think. Presented by Jennifer Matthews, MBA President and CEO
Your Credit Score It s Not As Bad Or As Permanent As You May Think Presented by Jennifer Matthews, MBA Things to Know What a credit score is Where to get a free credit report What goes into your credit
More informationThe Truth About Credit Repair
The Truth About Credit Repair Discover The Insider Secrets Of How The Credit System Really Works and How To Beat The Credit Bureaus At Their Own Game. David Shapiro Esq. Applied Credit Repair Solutions
More informationCredit Counts... Know the Score!
Credit Counts... Know the Score! Understanding the Importance of Credit Scoring 2004 by Access Group, Inc. All rights reserved. Do you know the score? QUESTION What can a lender learn from your credit
More informationA summary of your financial reliability
A summary of your financial reliability Used by banks and other financial institutions, landlords, utility companies and insurance companies 3 major credit bureaus: Transunion, Equifax, Experian 1. Identifying
More informationRoad to Good Credit.
Road to Good Credit. Now is the time for you to start building your credit. Why is credit important to you? Where can you fi nd your credit history? How do you get started? Have you ever wondered how to
More informationEarning Extra Credit. Understanding what it takes to maintain and manage good credit now and for your future
Credit 101 Why Credit is Important 3 Your Credit Score 5 FICO Scoring - From Good to Bad 7 Credit Bureaus 8 Credit-Worthy vs. Credit-Ready 9 Are you Drowning in Debt? 10 2 Why Credit is Important College
More information$uccessful Start and the Office of Student Services Present: THE WINNING SCORE
$uccessful Start and the Office of Student Services Present: THE WINNING SCORE QUESTIONS TO BE ANSWERED How is a credit score calculated? Why is a credit score important? How can I improve my credit score?
More informationIntroduction. Purpose. Student Introductions. Agenda and Ground Rules. Objectives
Introduction Instructor and student introductions. Module overview. 1 2 Your name. Student Introductions Your expectations, questions, and concerns about credit. Purpose will: Show you how to read a credit
More informationA Credit Smart Start. Michael Trecek Sr. Risk Analyst Commerce Bank Retail Lending
A Credit Smart Start Michael Trecek Sr. Risk Analyst Commerce Bank Retail Lending Agenda Credit Score vs. Credit Report Credit Score Components How Credit Scoring Helps You 10 Things that Hurt Your Credit
More informationGREENPATH FINANCIAL WELLNESS SERIES
GREENPATH FINANCIAL WELLNESS SERIES UNDERSTANDING YOUR CREDIT REPORT & SCORE Through financial knowledge and expertise, we provide high-quality products and services that enable people to enjoy a better
More informationFinancial payment profile Fair Isaac Corporation (FICO) 300 to 850 the higher, the better
What is a credit score? Financial payment profile Fair Isaac Corporation (FICO) 300 to 850 the higher, the better National distribution of FICO scores What a low score could cost you? Tens of thousands
More informationCredit Reports and Credit Scores
Credit Reports and Credit Scores This program is made possible by a grant from the FINRA Investor Education Foundation through Smart Investing@Your Library, a partnership with the American Library Association.
More informationCREDIT BASICS About your credit score
CREDIT BASICS About your credit score Your credit score influences the credit that s available to you and the terms (interest rate, etc.) that lenders offer you. It s a vital part of your credit health.
More informationSolving the Credit Puzzle. L G & W Federal Credit Union
Solving the Credit Puzzle L G & W Federal Credit Union Knowledge Check How much do you already know about credit scoring? Sample Credit Report Credit Bureaus Equifax TransUnion Experian Who Can Pull Your
More informationWhat is a credit report?
What is a credit report? - Consumer Financial Protection Bureau RETURN TO ORIGINAL QUESTION What is a credit report? UPDATED 6/21/2013 A credit report contains information about your credit history and
More informationCredit Score Secrets Revealed
Credit Score Secrets Revealed This Complementary Special Report was prepared by: 2 The Secrets Behind Your Credit Scores Your life is your credit. And your Credit Score is the key to everything. As important
More informationUnderstanding Credit Scoring
The Ultimate Guide to Understanding Credit Scoring www. Table of Contents The Basics Of Credit Scoring...3 5 Factors That Make Up A Credit Score...4 Rate Shopping...6 Late Payments...7 Common Credit Myths...8
More informationCredit Histories & Credit Scores
Credit Histories & Credit Scores Credit Histories - Definition A continuing record of a borrower s debt commitments and how well they have been honored. (Similar to a transcript) Credit Score - Definition
More informationCredit Reports & Credit Scores
Credit Reports & Credit Scores Reviewing: Information that is and isn t in your credit report. What information determines your credit score. Tips to improve your credit score. What s In Your Credit Report
More informationUnderstanding Credit Reports and Scores and How to Improve It!
Understanding Credit Reports and Scores and How to Improve It! Robin Minor, CCCC What Will We Cover? When we are finished, you will understand: Credit Reports and Credit Scores - What they are and how
More informationCredit 101. Learn how to get and keep your credit in shape! From Silverton Mortgage
Credit 101 Learn how to get and keep your credit in shape! From Silverton Mortgage Table of Contents What is a credit score? 2 Why is it important? 2 How is a credit score determined? 3 How can I see my
More informationCredit Builders Alliance
Credit Builders Alliance June 8, 2014 Maxine Sweet Vice President, Public Education Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc.
More informationCredit Scoring and Wealth
the Problem In most games, it is wise to understand the rules before you begin to play. What if you weren t aware that you were playing a game? What if you had not choice whether to play or not? Everyone
More informationFICO Scores. John Meeks Federal Deposit Insurance Corporation
FICO Scores John Meeks Federal Deposit Insurance Corporation What is your most valuable asset? Frank Abagnale of Catch Me if You Can fame once remarked that if you don t own a house it is most likely your
More informationUnderstanding Your Credit Score
Understanding Your Credit Score Contents An Introduction to Credit Scores...... 1 How Credit Scoring Helps You........ 2 Your Credit Report The Basis of Your Credit Score........ 4 How Scoring Works................
More informationYOUR CREDIT SCORE. Payment History - 35%
YOUR REDIT SORE Many of our clients are concerned about their ability to obtain credit in the future. There are several issues related to those concerns. redit reporting agencies (Experian, Equifax, and
More informationHow To Know Your Credit Risk
Understanding Your FICO Score Understanding FICO Scores 2013 Fair Isaac Corporation. All rights reserved. 1 August 2013 Table of Contents Introduction to Credit Scoring 1 What s in Your Credit Reports
More informationReviewing C Your Credit Report
chapter 2 Reviewing C Your Credit Report What do your creditors have to say about the way you handle money? Having a good credit score can help you turn your home-buying dream into a reality. There s much
More informationCredit Scores. www.howtogainwealth.com. Copyright 2009 How to Gain Wealth. All rights reserved.
Credit Scores Why is my Credit Score important? Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses
More informationFWA HSBC Financial Backpack Program
FWA HSBC Financial Backpack Program Understanding Credit All materials are on FWA.ORG Follow us on FACEBOOK Top Lessons Credit has many advantages and disadvantages Understand costs of credit: principal,
More informationTopic 3 Credit Report
Topic 3 Credit Report Questions to Think About: What are the different types of credit and why is credit important? What are its advantages and disadvantages? What is a credit report? How do you read it
More informationImprove Your Credit Put Bad Credit Behind You
Improve Your Credit Put Bad Credit Behind You Improve your credit While it s possible to get by without credit, access to credit is essential for buying a home, financing a car or getting a credit card.
More informationBuilding Good Credit and Improving Your Credit Score
Building Good Credit and Improving Your Credit Score US Consumer Debt Statistics August 2014 Consumer Debt = $11.74 Trillion 5% Increase over 2013 9% Delinquent Mortgages = $8.24 Trillion Avg. Mortgage
More informationFICO Vantage Will Include Rent # of People in this category
What You Must Know About Your Credit Report and Score Must Know: There is more than one company reporting on your credit; you need to know most websites and rental companies use vantage scores and most
More informationCREDIT REPORTS WHAT EVERY CONSUMER SHOULD KNOW ABOUT MORTGAGE EQUITY P A R T N E R S
F WHAT EVERY CONSUMER SHOULD KNOW ABOUT CREDIT REPORTS MORTGAGE EQUITY P A R T N E R S Your Leaders in Lending B The information contained herein is for informational purposes only. The algorithymes and
More informationUnderstanding Your FICO Score
Understanding Your FICO Score 2013 Fair Isaac Corporation. All rights reserved. 1 August 2013 Table of Contents Introduction to Credit Scoring 1 What s in Your Credit Report 1 Checking Your Credit Report
More informationYour Credit Score. 800-491-2328 www.congressionalfcu.org. score of at least 620 for approval and 760 for the best interest rate.
800-491-2328 www.congressionalfcu.org Your Credit Score Your credit score can have a major impact on your life. Not only do creditors typically check your score when deciding whether or not to approve
More informationPA HealthCare Credit Union. The Credit Clinic. The PA HealthCare Credit Union contributes to the financial success of our members.
PA HealthCare Credit Union The Credit Clinic The PA HealthCare Credit Union contributes to the financial success of our members. 1 Copyright 2006 Agenda Welcome & Introduction Overview Product Rate Credit
More informationStudent Loans and Credit Reports
Student Loans and Credit Reports Presented by: Debbie Murphy We Will Discuss: The role of credit in personal finance Review of credit terms and factors Impact of student loans on reports and scores Next
More informationUnderstanding Your Credit Score
Understanding Your Credit Score Contents Your Credit Score A Vital Part of Your Credit Health...... 1 How Credit Scoring Helps You........ 2 Your Credit Report The Basis of Your Score............. 4 How
More informationMedical School Loan Repayment & Building Credit
Medical School Loan Repayment & Building Credit Presented by: Thomas Murphy Harvard University Employees Credit Union Presentation Objectives Medical School Loan Overview Forbearance or Repayment Understanding
More informationUnderstanding Credit Reports and Scores and How to Improve it!
Understanding Credit Reports and Scores and How to Improve it! Apprisen What Will We Cover? When we are finished, you will understand: Credit Reports and Credit Scores - What they are and how they are
More informationUnderstanding Your FICO Score
Understanding Your FICO Score Contents Your FICO Score A Vital Part of Your Credit Health............ 1 How FICO Scores Help You................. 2 Your Credit Report The Basis of Your FICO Score..............
More informationUnderstanding Your Credit Score Contents Your Credit Score A Vital Part of Your Credit Health...... 1 How Credit Scoring Helps You........ 2 Your Credit Report The Basis of Your Score............. 4 How
More informationCredit Repair Personal injuries can destroy credit. Learn all about your credit score & how to repair it. Ross A. Jurewitz JUREWITZ LAW GROUP
Credit Repair Personal injuries can destroy credit. Learn all about your credit score & how to repair it. Ross A. Jurewitz JUREWITZ LAW GROUP DISCLAIMER THIS IS NOT LEGAL ADVICE. This is not financial
More informationHow To Check Your Credit Report For Not Credit History
Your Credit Report P.O. Box 15128 Spokane Valley, WA 99215 800.852.5316 www.hzcu.org You may not think about them every day, but your credit report and the three little digits that make up your credit
More informationYOUR GOOD CREDIT The Importance of Your Credit Report and Your Credit Score Maintain Good Credit Combat Identity Theft FACT Act Rights
YOUR GOOD CREDIT The Importance of Your Credit Report and Your Credit Score Maintain Good Credit Combat Identity Theft FACT Act Rights WHY YOU NEED TO KNOW ABOUT CREDIT REPORTS & CREDIT SCORES Having good
More informationCREDIT REPORTS & SCORES:
CREDIT REPORTS & SCORES: A Guide to Understanding and Improving Your Credit NYLAG Financial Counseling Division Workshop Financial Counseling Division New York Legal Assistance Group (212) 613-5000 NYLAG
More informationCredit Reporting. Commonly Asked Questions
Credit Reporting Commonly Asked Questions What is a credit score and how does it affect a consumer? A credit score is a number that lenders use to predict how likely an individual is to repay a loan or
More informationImproving Your Credit
Teacher Homebuyer Guide to: Improving Your Credit By John Godbey, Founder and Broker of Teacher Homebuyer Real Estate Introduction Thank you for signing up for our Ebook "Improving Your Credit." We find
More informationGood Credit Why is Having Good Credit Important?
Good Credit Why is Having Good Credit Important? Many people in the United States have fi nancial problems. They have poor credit, are in debt, have little savings or have a combination of all three. One
More informationStudent Loans and Credit Reports
Student Loans and Credit Reports We Will Discuss The role of credit in personal finance Review of credit terms and factors Impact of student loans on reports and scores Next steps you can take to encourage
More informationThe ABCs of Credit Credit Scores Establishing Credit Maintaining Good Credit Credit Cards Managing Credit Challenges
The ABCs of Credit Credit Scores Establishing Credit Maintaining Good Credit Credit Cards Managing Credit Challenges CREDIT DEFINITIONS Credit Trust given to another person for future payment of a loan,
More informationUnderstanding a Credit Report! April 21, 2011. New York City Department of Consumer Affairs. All rights reserved.
Understanding a Credit Report! Questions to Think About What are the different types of credit and why is credit important? What is a credit report? How does credit impact future financial goals? 3 What
More informationMust Know: There is 11% 29% 21% 300-499 501-599 20% 19% (Cost $1..00) a year) compare. will help FICO. Vantage. Primary Search.
Must Know: There is more than one company reporting on your credit; you need to know most websites and rental companies use scores and most mortgage companies use FICO scores. The chart below will help
More informationUnderstanding Credit. UMassFive College Federal Credit Union
Understanding Credit UMassFive College Federal Credit Union Objectives Understand the role of credit bureaus Discuss the importance of your credit report Review the components of a credit score Explain
More informationCredit Score and Report Overview
Credit Score and Report Overview Have you ever wondered how your credit score is calculated? Have you ever asked, but are always given vague answers? I will tell you exactly how credit scores are determined
More informationUnderstanding and managing your credit
Understanding and managing your credit Overview Understanding how credit works and how it affects your chances of getting approved for a loan is important. In this presentation, you ll learn helpful ways
More informationUnderstanding Your Credit Report
Understanding Your Credit Report What is credit? Credit is the use of someone else s money in exchange for a promise to pay it back on a given date. There are two major types of credit: Revolving and Installment.
More informationCredit Reports. published by AAA Fair Credit Foundation
Credit Reports published by AAA Fair Credit Foundation Credit Reports 1. What is a Credit Report?..........................................................2 2. What Your Credit Report Reveals About You...................................4
More informationUnderstanding Your Credit Score
Understanding Your Credit Score Prof. Michael Staten Director, Take Charge America Institute Norton School of Family and Consumer Sciences FEFE Conference, Baltimore, MD April 30, 2010 A Good Credit Score
More informationCredit Law Solutions. Credit Repair Services www.creditlawsolutions.com. Kristen Sirles (818)593-4209 Kristen@creditlawsolutions.
Credit Law Solutions Credit Repair Services www.creditlawsolutions.com Kristen Sirles (818)593-4209 Kristen@creditlawsolutions.com About the Company Credit Law Solutions is an industry leading credit repair
More informationUnderstanding Credit. Megan Stearns, Credit Counselor
Understanding Credit Megan Stearns, Credit Counselor Obtaining your free credit report will lower your credit score. Closing old accounts can help your credit score. Paying off the balances on your credit
More informationCredit Cards: Rules of Thumb
Name: Date: Credit Cards: Rules of Thumb Rule 1: Never carry a credit card balance. When you use your credit card to purchase items, you will receive a statement at the end of each month that will need
More informationClearing Up the Confusion
Credit Scores Credit Reports & Insurance Scores: Credit Scores, Credit Reports & Insurance Scores: Clearing Up the Confusion Credit Scoring Scoring is based on the theory that a customer with a poor credit
More informationWeek 2: Personal Guarantor
Week 2: Personal Guarantor Before you begin the credit building process, you need to identify who will personally guarantee the business credit lines. Your choices are as follows: yourself, someone you
More informationREVIEW.The Credit Process
REVIEW.The Credit Process Credit when goods, services, and/or money are received in exchange for a promise to pay back a definite sum of money at a future date. Wants to acquire an item Does not have enough
More informationHow to Improve and Maintain your Credit Score
How to Improve and Maintain your Credit Score Special points of interest: Factors that influence your credit score How your credit score is calculated Improving your credit score How to fix flawed credit
More informationSpouses, ex-spouses and children are a major example of what causes credit report errors, identity theft and confusion of reporting data.
Repair Credit? Repair Credit Scores? Is it Worth all the Extra Effort? 850 750 300 You should check your credit reports and official credit scores at least once a year, or more often, when you are preparing
More informationOffice of Student Financial Management
September 2013 Office of Student Financial Management Kasia Palm: Director of Student Financial Management What is Credit? - The ability to obtain goods/services before payment based on the trust that
More informationCreditAbility: Build a Strong Credit History. Brought to you by Duke University FCU
: Build a Strong Credit History Brought to you by Duke University FCU Seminar Objectives Learn: Who needs to build good credit, and why Significance of credit report and score How to establish credit if
More informationOffice of Student Financial Management
February 2015 Office of Student Financial Management Kasia Palm: Director of Student Financial Management What is Credit? - The ability to obtain goods/services before payment based on the trust that a
More informationSecrets of the Credit Score UCCS Employee Seminar 10/21/2014
Secrets of the Credit Score UCCS Employee Seminar 10/21/2014 Schuyler (Skip) Wells, Ent Federal Credit Union Question!! What do credit reports, the number of and use of credit cards, inquiries, credit
More informationHow to Analyze a Credit Report. Credit Scores and Scoring Factors: Why the score is what it is
How to Analyze a Credit Report All credit reports contain the following information but presented in various formats. Learn how and where to look for vital information that will help the customer. I.D.
More informationMax Out Your Credit Knowledge
Max Out Your Credit Knowledge Sponsored by Elevations Credit Union October 27 th, 1014 Presented by Laura Zavala & Lauren Barbary Agenda What is Credit? What Composes My Credit Score? Bankruptcy Impact!
More informationTracking Your Credit History By Mark Schug
By Mark Schug Financial institutions (banks, savings and loan associations, credit unions, and consumer finance companies) are private, profit seeking businesses. They expect to be paid back most of the
More informationUnderstanding Credit Reports
Understanding Credit Reports What is a Credit Report and Score? Your success in managing credit is reflected in your credit report and score. A credit report is a history of everything you are doing with
More informationAbout your credit score. About FICO Score. Other names for FICO Score. http://www.myfico.com/crediteducation/creditscores.aspx
http://www.myfico.com/crediteducation/creditscores.aspx About your credit score Your credit score influences the credit that s available to you and the terms (interest rate, etc.) that lenders offer you.
More informationStandard 7: The student will identify the procedures and analyze the 3 responsibilities of borrowing money.
TEACHER GUIDE 7.3 BORROWING MONEY PAGE 1 Standard 7: The student will identify the procedures and analyze the 3 responsibilities of borrowing money. Your Credit Score Priority Academic Student Skills Personal
More informationStudent Loans and Credit Reports
Student Loans and Credit Reports We Will Discuss The role of credit in personal finance Review of credit terms and factors Impact of student loans on reports and scores Next steps you can take to encourage
More informationCredit Repair For Court Reporters. When Bad Dings Happen To Good People. By Julie Samford Realtime Ready. Julie Samford julie@realtimeready.
Credit Repair For Court Reporters When Bad Dings Happen To Good People By Realtime Ready 1 $96,634.00 difference! That s $5,496.00 straight out of your pocket when you could have had 0% interest! (Info
More information3/13/2013. US Consumer Credit Restoration Association 2013 All Rights Reserved
1 FREE REPORT How to Settle Collections and Request That They Be Deleted! Jim Hogle Your Credit Expert Resource Internationally known public speaker Author of numerous publications, articles and training
More informationA LESSON PLAN TO UNDERSTANDING. Credit Scores. Provided by
A LESSON PLAN TO UNDERSTANDING Credit Scores Provided by A LESSON PLAN TO UNDERSTANDING Credit Scores Provided by INTRODUCTION A credit score is a three-digit number derived from a mathematical interpretation
More informationYour Credit Report. 595 Market Street, 16th Floor San Francisco, CA 94105 888.456.2227 www.balancepro.net
Your Credit Report 750. 670. 620. 575. You may not think about them every day, but your credit reports and the three little digits that make up your credit score probably influence your life in many ways.
More informationLending 101 The Basics
Lending 101 The Basics Overview Loan categories Credit types Different loan types Interest rate Applying for a loan Credit & credit reports Simple loan tips Test Loan Categories Secured loan - a loan that
More informationBasics of Credit Reports and Credit Scores
Basics of Credit Reports and Credit Scores What is a Credit Score? A credit score is a number lenders use to help them predict the likelihood (risk) that you will repay your debt as agreed. For this reason,
More information