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Credit Report Analysis - my credit score is very high...

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Weinstein 1 Colin Weinstein Professor Boyce FCE 238 1 February 2010 Credit Report Analysis I reviewed my credit report from Experian and it showed my payments for my two credit cards sorted out by month. It said that both of my accounts are in good standing and have never experienced a late payment. The report displays my recent balance and each credit card’s limits. My Visa card does not have a limit on it which came to a surprise to me because I thought they both had a fifteen thousand dollar limit. After seeing all those numbers, I decided to type in all my monthly credit card bills into Microsoft Excel and I was astounded when I realized that I had spent thirty thousand seven hundred and twenty-three dollars in 2009. Then I took that number and divided it by my monthly payment, which is one hundred and twenty-seven dollars, and I was amazed when I realized that if I just paid the minimum each month it would take me twenty years just to pay off my credit card debt that I had accumulated from only one year. I believe that
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Unformatted text preview: my credit score is very high because I am very smart with my credit card and never spend more than what I have currently possess. I always pay off my debt completely each month so I don’t get behind on my payments. I am proud to say I was able to cut down my spending by ten thousand dollars from 2008 to 2009. My credit score would probably improve if I stopped using my credit card as often as I do, and start using my debit card so I know I am using money that I have in my checking account. Considering I only have two credit cards and each of them are paid off each month, I know why my credit score is in the eight hundreds. I was offered the Visa Weinstein 2 Black card which is only offered to one percent of the United States population because of how well I handle my credit, which came to a surprise to me and it will hopefully be a sign of whats to come after I graduate college....
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