1. Brody Babosh, Austin Francis, Kjerstin Lacina, Samantha Riley
5 C’s of Credit
Brody Babosh, Austin Francis, Kjerstin Lacina, Samantha Riley

2. The 5 C’s of Credit
Character
Capacity
Capital
Collateral
Conditions

3. Credit Score & How It’s Calculated
A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of the person.

5. What Affects your Credit Score
Payoff History
Bankruptcy
Collections
Amount Owed vs. Available Credit
Closed Accounts
The Types of Credit Used
Inquiries

6. How to maintain and improve your credit score.
Pay bills on time
Create a monthly budget
Don’t blow money on things you don’t need
To Improve:
Check your credit report
Pay off the most expensive accounts first
Set up payment reminders

7. How to apply for Credit and Loans
Applying for Credit:
Know your credit score
Reduce your debt
Shop around
Include all of your income on the application
Applying for Loans:
Check your credit
Research before you buy
Get everything you need for the loan application
Start local

8. What info you need and where you can apply for different forms of credit
What’s Needed:
Mortgage: W-2, pay stubs, most recent tax return, List of Debts, List of Assets, Canceled Checks for Mortgages
Auto Loan: Proof of income, Credit and Banking History, Proof of Residence, Vehicle info, Proof of insurance
Credit Card: Legal Name, Birth Date, SS#, and annual income
Where to go to Apply:
Mortgage: Your bank, in person or online
Auto Loan: Your Bank in person or online
Credit Card: Online or At your bank

9. Equal Credit Opportunity Act
Prohibits creditors from discriminating against credit applicants on the basis of race, religion, and sex

10. What does it mean for creditors?
Credit applicants will have equal opportunity

11. What kind of protection does it offer?
Protection in organizations that extend credit

12. Credit Bureaus Ensure that creditors have the information they need.
The people who are using the credit
Information about you is given to them by banks, public records, credit cards, etc.

13. 3 Main Credit Bureaus
Equifax
Experian
TransUnion

14. Works cited www.investopedia.com/terms/c/creditbureau.asp