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Wise Credit Management Understanding Your Credit Score. Credit Bureaus. Equifax Experian TransUnion. What’s in your credit report?. Identification – name, address, SS# Employment – current and previous Credit – accounts, limits, payments Inquiries – requests for info.

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Wise credit management understanding your credit score l.jpg

Wise Credit ManagementUnderstanding Your Credit Score


Credit bureaus l.jpg
Credit Bureaus

  • Equifax

  • Experian

  • TransUnion


What s in your credit report l.jpg
What’s in your credit report?

  • Identification – name, address, SS#

  • Employment – current and previous

  • Credit – accounts, limits, payments

  • Inquiries – requests for info.

  • Public Record – foreclosure, tax liens, bankruptcy. (Negative information remains for 7 years. Bankruptcy remains 10.)


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How to order your credit report

Annual Credit Report

  • Online at www.annualcreditreport.com

  • Phone

  • Mail


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If you find errors:

  • Notify the credit bureau

  • Notify the creditor

    • Send documentation

    • Describe the error

    • Mail to “billing inquiries” address, not the payment address

  • More information from Federal Trade Commission at www.ftc.gov


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Report Fraud

  • Contact the credit bureau

  • Post a “fraud alert”

  • Contact creditors of fraudulent accounts or unauthorized charges

  • Follow-up in writing and close accounts

  • File a report with the Federal Trade Commission www.ftc.gov/idtheft , state attorney general’s office, local police


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What’s your credit score?

  • Each Credit Bureau has it’s own score

  • VantageScore – joint credit score from the three major credit bureaus

  • Fair Issac Corporation – FICO score, most commonly used



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Purchase Your Credit Score

  • Annual Credit Report 1-877-322-8228; www.annualcreditreport.com

  • Equifax: 1-877-576-5734; www.equifax.com

  • Experian: 1-888-397-3742; www.experian.com

  • TransUnion: 1-800-680-7289; www.transunion.com


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Improve your credit score

  • Pay on time

  • Keep balances low

  • Use credit

  • Limit new accounts

  • Use a variety of types of credit


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Managing credit

  • Practice careful money management

  • Beware of credit repair scams

  • Seek credit counseling if needed


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Extension Fact Sheets on Credit

  • Credit Help for Arkansans: Names and Numbers to Know

  • Credit and Debit Card Register

  • Trim Your Credit Line

  • Managing Credit

  • Credit Reports and Credit Scores

  • Credit Repair


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Wise Credit ManagementUnderstanding Your Credit Score


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