Mr. Stasa – Willoughby-Eastlake City Schools ©

Tesh Tip of the Day…  NEVER pay late when it comes to credit cards and other loans. Especially if you’ve had a long history of good credit - one late payment can knock 100 points off your score. If you can’t remember to mail a check every month, set up a recurring payment online.

 A credit bureau is a company that collects consumer credit information from a variety of creditors (institutions who lend money) to organize a credit report.  A credit report lists a consumer’s credit activity, including borrowing and repaying.

1. Equifax 2. Experian 3. TransUnion You are entitled to one free copy of your credit report from each of the three credit reporting bureaus during any 12-month period. bankrate.co m/finance/cr edit- cards/6- items-to- review-on- your-credit- report- 1.aspx

 AnnualCreditReport.com (free credit report)  Equifax.com  Experian.com  TransUnion.com   Your bank

 Personal information  Credit information  Negative items  Credit Inquiries

Personal Information  Name  Current and past addresses  Social security number  Date of birth  Employment history  Name – Isabella G. Langley  Date of birth – 05/04/86  Telephone numbers – &  Employers – Lucky’s Restaurant & Jane’s Daycare  Addresses – 101 Hopeful Ave. & 695 Parent Street

 Types of accounts  Date the account was opened  Credit limit or loan amount  Account balance  Payment history Isabella’s Accounts  Sam’s Electronic World  City of Anywhere  U.S. Department of Education  Financial Institution School Loan  Shop ‘Til You Drop Store Credit Card  Love to Read Store Credit Card  The Free Money Credit Card Credit Information

Negative Items  Missed payments  Collection agencies  Public records  Bankruptcy  Tax liens  Legal suits  Foreclosures Isabella’s Negative Items  Sam’s Electronic World  Past due  City of Anywhere  In Collection  Shop ‘Til You Drop  Occasional late payments  The Free Money  Over the credit limit Negative Items

Credit Inquiries  Credit Inquiries are requests for an individual’s credit report  Completed by:  Insurance agencies  Potential credit companies  Financial institutions  Landlords  Potential employers, etc.

Credit Inquiries Not all credit inquiries are the same! Type of inquiry Soft checkHard check Do they impact your credit score? Not usuallyYes Examples  Individuals checking their credit reports  Credit card companies pre- approving individuals  Pre-employment checks Permission given by the individual when seeking credit  Credit card  Automobile loan  Insurance Individuals should avoid too many hard credit checks at one time! m/credit_tutorial/credit_sc ore/pop-quiz-do-you- know-what-affects-your- credit-score.html