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Give Yourself Some Credit

Give Yourself Some Credit

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Give Yourself Some Credit

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  1. Give Yourself Some Credit Understanding Your Credit Report Stephanie Soto Economics 101

  2. Generated by three companies • Experian, Equifax, TransUnion • Factors • How much you owe to each company • Payment History for each company • Includes utilities, medical expenses, and rent Credit Report Fundamentals

  3. Range – 760 (excellent) to 620 (poor) • 35%- Payment history • 25%- Amounts owed • 20%- Credit history length • 10%- New credit • 10%- Credit types How FICO is Calculated

  4. Pay bills on time • Avoid opening many new accounts • Open only if you intend to use • Keep balances low • Less than 25% of credit limit • Review credit report yearly Improve Your FICO Score