Credit Scores

561 views

Published on

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

  • Be the first to like this

No Downloads
Views
Total views
561
On SlideShare
0
From Embeds
0
Number of Embeds
169
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Credit Scores

  1. 1. Credit Scores A+ 650 720 Excellent Approved Denied 800 Experian Equifax Vantage
  2. 2. 3 Major Credit Bureaus Maintain A Report On You <ul><li>TransUnion </li></ul><ul><li>Equifax </li></ul><ul><li>Experian </li></ul>
  3. 3. You Are Graded!
  4. 4. <ul><li>Developed By Fair Isaac Corporation </li></ul><ul><li>Used By Majority Of Lenders </li></ul><ul><li>Score For Each Of 3 Credit Bureaus </li></ul>www.myfico.com
  5. 5. FICO Credit Score Scale 750-850 Excellent 700-749 Very good 650-699 Good credit 600-650 Fair 550-600 Poor
  6. 6. How’s Your FICO Credit Score Calculated? Payment History 35% Amounts Owed 30% Types Of Credit 10% New Credit 10% Length Of History 15%
  7. 7. But wait… there’s more
  8. 8. + + = Vantage Score
  9. 9. Vantage Gives You A Letter Grade 500-599 “ F” 600-699 “ D” 700-799 “ C” 800-899 “ B” 900-990 “ A”
  10. 10. The Vantage Score Payment History 32% Utilization 23% Available Credit 7% Recent Credit 10% Balances 15% Depth of Credit 13%

×