Credit Score outline - Credit Score I Credit scores are not...

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Credit Score I. Credit scores are not a fair measurement to help lenders estimate potential risk. A. What’s in your credit score? B. What’s not in you credit score C. Personal experiences II. What’s in your Credit Score? A. Payment History 1. Payment history is 35% of your credit scores according to a chart made by myfico.com. a. Payment history is all the information on specific types of accounts such as installment loans, mortgage, credit cards,ect. 1. Public records are included such as bankruptcy, judgments, suits,ect. 2. Severity of delinquency, amount past due, time since your last past due items, number of past due items and number of accounts paid as agreed are all things that are looked at. B. Amount Owed 1. Amount owing on accounts on specific types of accounts. 2. Number of accounts with a balance. 3. The proportion of credit card lines used and installment loans still owing all make a difference. C. Length of credit history 1. Time since accounts was open, by type of accounts. 2.
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Credit Score outline - Credit Score I Credit scores are not...

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