Balancing Credit and Debt to Maintain Credit Worthiness.

Slides:

Advertisements

Similar presentations

Understanding Your Credit Purdue Employees Federal Credit Union.

Advertisements

Give Yourself Some Credit Understanding Your Credit Report Melanie Hurley Economics 101.

Unit 6: Credit Section 1: Your Credit Score. I CAN: Define Credit List and describe the 5 Cs of credit Explain how bureaus report credit worthiness Evaluate.

C REDIT H ISTORY A ND R ATINGS 1 Copyright © Texas Education Agency, All rights reserved.

Establishing Credit Presented By:. What is credit? Credit is more than a plastic card you use to buy things --- it is your financial trustworthiness.

Give Yourself Some Credit Understanding Your Credit Report Kaylee Prochniak Economics 101.

Credit.  Credit (from Latin credere translation. "to believe") is the trust which allows one party to provide resources to another party where that second.

Credit Scoring and Scorecard Lending LESE 306 Fall 2008.

Credit Scoring and Scorecard Lending Agribusiness Finance LESE 306 Fall 2008.

Managing In Tough Times “Bits & Tips” Credit History and Credit Score.

Credit Scores and Scorecard Lending AGEC 489/690 Spring 2009 Slide Show #12.

Lending Team Analysis AGEC Spring Factors to Consider Credit scores assessing the borrower’s existing credit history. Business plan and.

The importance of understanding credit reports The choices you make today directly impact your future. Your credit score can influence how much interest.

A Four Corners Activity. What is a “credit report?” How does someone’s credit report impact his or her financial opportunities?

© 2006 Consumer Jungle Credit Scores & Reports. Learning Target I can explain what can affect my credit score and how to improve it. © 2006 Consumer Jungle.

Costly Credit Cards - Credit on Campus -

Credit Scoring Beyond the Numbers MASFAA Conference 2006.

Credit. Bell Ringer 1.Is a credit card good or bad? 2.What would be considered good credit? 3.On average how many credit cards does the average household.

What you “look” like at the credit bureau What creditors see when they pull up your records.

Financial Literacy Topic Important Steps to Being Financially Fit 1 ©2014 Mapping Your Future, Inc.

Please… Please place your notes from yesterday in the basket Log into Moodle and complete today’s Bell Ringer.

Key Terms Section 10.1 & 10.2  Why should you be careful not to take on more debt than you can easily repay? *Credit *Equity *Creditworthiness *Character.

CREDIT – Part 2 Business Issues. Credit Cards Paid over a variable amount of time Finance charge (interest) is called annual percentage rate (APR) expressed.

© 2006 Consumer Jungle Credit Scores & Reports. Are you Creditworthy? Have you ever borrowed money? Did you pay it back? Did you pay it back quickly?

Six Ways to Increase Wealth Laura Connerly, Ph.D. Assistant Professor.

Credit Basics. Some old stats 83% of college students have at least one credit card 45% of college students are in credit card debt –Average debt over.

By Lonnie R. Mathews. Lonnie R. Mathews Who is American Consumers The average salary in the U.S is $50, The average consumer has 13 credit cards.

Credit Reports. What is a Credit Report? Credit Report: A record of past borrowing and repayment of debts.

Personal Finance. The three Cs of Credit 1. Capacity  Do you have a steady job?  What is your salary?  How reliable is your income?  Do you have other.

COSTLY CREDIT CARDS - CREDIT ON CAMPUS -

Credit Cards Heaven or Hell?. Would you borrow money from these guys… If you wanted to buy a new Mercedes-Benz? If you wanted to buy a new Mercedes-Benz?

2.6.1.G1 Credit Reports and Scores Take Charge G1 © Take Charge Today – August 2013– Credit Reports and Scores– Slide 2 Funded by a grant from.

Give Yourself Some Credit Understanding Your Credit Report Student Name - Economics 101.

Establishing Credit Presented By:. Credit is more than a plastic card you use to buy things --- it is your financial trustworthiness. What is credit?

Entrance Ticket What are the two major lines of credit available to you? What options do you have to pay them back?

CREDIT REPORT HOW TO UNDERSTAND YOUR PERSONAL CREDIT REPORT PREDICTIVEMETRICS.COM.

UNDERSTANDING YOUR CREDIT REPORT Student Name - Economics 101 Give Yourself Some Credit.

What is Credit? Credit is borrowed money that you can use to purchase goods and services when you need them. You and the credit grantor are in agreement.

Credit  When goods, services, and/or money is received in exchange for a promise to pay back a definite sum of money at a futre date.  Lender: the person.

Credit The Good, the bad, and the ugly. CREDIT CREDIT CAN MAKE OR BREAK YOUR FUTURE PLEASE PAY ATTENTION TO THIS IMPORTANT LIFE LESSON – IT IS SERIOUSLY.

Credit Test Review. What card takes money directly from your checking or savings account?  Debit Card.

Key Terms Section 10.1 & 10.2  Why should you be careful not to take on more debt than you can easily repay? *Credit *Equity *Creditworthiness *Character.

Credit score and review for test. Bell Ringer 1/25/16 What is a credit score? How do you go about building a GOOD score? How do you get a BAD score? Just.

Money Matters Personal Financial Management. Why Personal Finance is Important Where are you? Where are you going?

PERSONAL FINANCE & CREDIT

Credit Scoring and Scorecard Lending

Credit The ability to borrow money with the agreement to pay it back later Usually includes interest Debtor—a person who borrows money.

Credit Score What is a credit report and why is it important to you?

CREDIT BUREAU A credit bureau is a private company that gathers account information from various creditors and provides that information to consumer reporting.

CREDIT BUREAU A credit bureau is a private company that gathers account information from various creditors and provides that information to consumer reporting.

Do Now 12/7/16 On a half sheet of paper answer the following:

7.6.7 Simple Interest.

Mr. Rosenstock Economics San Fernando High School

Credit Score Consumer Math.

Give Yourself Some Credit

Give Yourself Some Credit

Thursday, March 31, 2016 Objective: Students will be able to examine ways to avoid identity theft and evaluate your personal credit history. Purpose: Maintaining.

Henderson County 4-H Loren Stanford, Extension Agent 11

PERSONAL FINANCE & CREDIT

Which of these people would you give a loan to?

Give Yourself Some Credit

Give Yourself Some Credit

Give Yourself Some Credit

FICO/Credit Score What is FICO/Credit Score?

Which of these people would you give a loan to?

Copyright © Texas Education Agency, All rights reserved.

Credit Profile Basics Credit Profile Basics Credit Profile.

Presentation transcript:

Balancing Credit and Debt to Maintain Credit Worthiness

 A numerical expression of a person’s creditworthiness  Based on a formulaic calculation by different rating agencies  Rating agencies ◦ Experian ◦ Equifax ◦ Transunion  May contact these agencies when there is a discrepancy between reported score and actual financial activity

Average score is “Fair” for American – primarily a result of the typical negative savings rate for most Americans.

Influences on Individual Credit Score

Many people have what is considered to be “good” credit