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What is a credit score? A number similar to a GPA.

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Presentation on theme: "What is a credit score? A number similar to a GPA."— Presentation transcript:

1

2 What is a credit score? A number similar to a GPA.
Brand is FICO, BEACON, etc

3 What makes up the number?
Payment History 35% Amount Owed 30% Length of Credit History 15% New Inquiries/Accounts 10% Types of Credit 10%

4 Why is it important? Getting a loan Getting a lower rate loan
House, car, Student, business, emergency Car insurance Utilities, cell phone Jobs 42% of adults say that knowing someone’s credit score would affect their willingness to date them.

5 Now, ignore the number

6 Pull your reports, yearly for free

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10 Protect Yourself Contact each bureau Free now
Who still has access: you, current creditors Protect Yourself

11 How can you build credit?

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