final essay com156 - Credit Scores Dont See The Whole...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Credit Scores Don’t See The Whole Picture Brandon Wilson Com/156 10/12/10 Dr. Ronald Malcolm
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Credit Scores Don’t See The Whole Picture There is no doubt that many Americans raise questions about credit scoring. The process it takes to find out what that credit score is and if it is fair to judge a person’s creditability on that score. This is a big problem with young America and some middle class people. Something’s that are in your credit score does not give a real look at what is going on in the life of the actual person and how they have come to the point they are at. Although people do not have control of something’s that happens to them financially, the lenders still need a system or guide to measure the risk that it takes to give out money. Which brings us to believe that credit score are a fair measurement to help lenders estimate potential risk. What’s in your Credit Score? Things that make up a credit score are a person’s payment history, amount owed and length of credit history just to name a few. Payment history is 35% of your credit scores, amount owed or debt to credit line ratio is 30%, length of credit history is 15% and inquires meaning creditor checks your credit is 10% according to Wikipedia.org. Payment history is all the information on specific types of accounts such as
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/29/2011 for the course PHYCOLOGY 270 taught by Professor Black during the Spring '11 term at University of Phoenix.

Page1 / 5

final essay com156 - Credit Scores Dont See The Whole...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online