Your SlideShare is downloading. ×
8 Things NOT In Your Credit Score
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

8 Things NOT In Your Credit Score

13,840
views

Published on

Here are 8 things that have no part in your credit score

Here are 8 things that have no part in your credit score

Published in: Economy & Finance, Business

0 Comments
3 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
13,840
On Slideshare
0
From Embeds
0
Number of Embeds
11
Actions
Shares
0
Downloads
3
Comments
0
Likes
3
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. 8 Things NOT Included In Your Credit Score
  • 2. 1. Your age • A 19 year old with good credit has an equal opportunity to qualify for a loan as an older adult and vice-versa • The same holds true for the elderly, and lenders may not age-discriminate – A 95-year old can qualify for a 30-year mortgage, just as easily as a younger person can Flickr/ Akash Kurdakar
  • 3. 2. Your salary • Whether you make $15,000 per year or $1 million, it will have no bearing on your credit score
  • 4. 3. Your employment status • Even if you’re unemployed, it won’t affect the score lenders receive • However, lenders can and will use employment information when making decisions, such as – Employed or not? – Length with employer – Salary – Employment history Chris Smith
  • 5. 4. Marital status • As long as your joint accounts are current, your martial status won’t affect your credit score • A common misconception, any individual accounts will only affect the account holder’s credit score – You do not “inherit” your spouse’s credit problems Jasen Miller
  • 6. 5. Your interest rates • While it’s true that high interest rates are generally given to high-risk borrowers, the rates are not factored into your credit score for future lending decisions Wikipedia/ Rammiefong
  • 7. 6. Child support • Any items reported as child or family support obligations don’t affect your score Flickr/ Paul Hamilton
  • 8. 7. “Soft” inquiries • Checking your own credit will not affect your score • “Promotional inquiries” are also soft inquiries – These are inquiries to “pre-qualify” you for credit offers • Administrative inquiries made by your current lenders to review your account also don’t count
  • 9. 8. Credit counseling • If you seek credit counseling services, it will not affect your credit score www.stockmonkeys.com
  • 10. Your credit card may soon be completely worthless!

×