Lab 1-1 PPT - Give Yourself Some Credit

Lab 1-1 PPT - Give Yourself Some Credit - 620(poor ◦ 35...

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Click to edit Master subtitle style  9/20/11 Give Yourself Some Credit Understanding Your Credit Report Marc Kantlon Economics 101
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 9/20/11 Credit Report Fundamentals Generated by three companies Experian, Equifax, TransUnion Factors How much you owe to each company Payment history for each company Includes utilities, medical expanses, rent
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 9/20/11 How FICO Is Calculated Range –  760  (excellent) to 
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Unformatted text preview: 620 (poor) ◦ 35% - Payment history ◦ 30% - Amounts owed ◦ 15% - Credit history length ◦ 10% - New credit ◦ 10% - Credit types 9/20/11 Improve Your FICO Score Pay bills on time Avoid opening many new accounts ◦ Open only if you intend to use Keep balance low ◦ Less than 25% of credit limit Review credit report yearly...
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