Your Credit Score and Why it Matters

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Credit scores are like permanent records at school: they’re a summary of how well you pay your bills, how likely you are to pay loans back, and how much credit you can receive, and they follow you around wherever you go. Good stuff, like getting a higher credit limit from a credit card and paying your bills on time, raises your credit score. Bad stuff, like late bill payments and reductions in your credit limit lower it.

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Your Credit Score and Why it Matters

  1. 1. Your credit scoreand why it matters © 2011 Kiboo LLC. All Rights Reserved. www.kiboo.com
  2. 2. Your credit score and why it mattersCredit scores are like permanent records at school:they’re a summary of how well you pay your bills,how likely you are to pay loans back, and how muchcredit you can receive, and they follow you aroundwherever you go.Good stuff, like getting a higher credit limit from acredit card and paying your bills on time, raisesyour credit score. Bad stuff, like late bill paymentsand reductions in your credit limit lower it. © 2011 Kiboo LLC. All Rights Reserved. www.kiboo.com
  3. 3. Your credit score and why it mattersThe most common model used to calculate yourcredit score is called FICO, named after thecompany who created it.While some lenders use these other ways ofcalculating your score, your FICO number is stillthe most widely used and the most important. © 2011 Kiboo LLC. All Rights Reserved. www.kiboo.com
  4. 4. Your credit scoreand why it matters © 2011 Kiboo LLC. All Rights Reserved. www.kiboo.com
  5. 5. Your credit scoreand why it matters © 2011 Kiboo LLC. All Rights Reserved. www.kiboo.com
  6. 6. Your credit scoreand why it matters © 2011 Kiboo LLC. All Rights Reserved. www.kiboo.com
  7. 7. Your credit scoreand why it matters © 2011 Kiboo LLC. All Rights Reserved. www.kiboo.com
  8. 8. Your credit scoreand why it matters © 2011 Kiboo LLC. All Rights Reserved. www.kiboo.com
  9. 9. Learn more at www.kiboo.com facebook.com/kiboo twitter.com/kiboomoney youtube.com/kiboomoney © 2011 Kiboo LLC. All Rights Reserved. www.kiboo.com

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