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Give Yourself Some Credit Understanding Your Credit Report Marc  Kantlon  Economics 101
Credit Report Fundamentals      Generated by three companies                 Experian, Equifax, Trans Union      factors                 How much you owe to each company                  Payment history for each company                         Includes utilities, medical expenses, rent
How FICO Is Calculated       Range-760(excellent)to 620(poor)                   35%-Payment history                   30%-Amounts owed                   15%-Credit history length                   10%-New credit                   10%-Credit types
Improve Your FICO Score     Pay bills on time     Avoid opening many new accounts            Open only if you intend to use     Keep balances low            Less than 25% of credit limit     Review credit report yaerly.
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Presentation1

  • 1. Give Yourself Some Credit Understanding Your Credit Report Marc Kantlon Economics 101
  • 2. Credit Report Fundamentals Generated by three companies Experian, Equifax, Trans Union factors How much you owe to each company Payment history for each company Includes utilities, medical expenses, rent
  • 3. How FICO Is Calculated Range-760(excellent)to 620(poor) 35%-Payment history 30%-Amounts owed 15%-Credit history length 10%-New credit 10%-Credit types
  • 4. Improve Your FICO Score Pay bills on time Avoid opening many new accounts Open only if you intend to use Keep balances low Less than 25% of credit limit Review credit report yaerly.