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Credit Profile Basics Credit Profile Basics Credit Profile.

Published byῬαμά Αναστασιάδης Modified over 5 years ago

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Presentation on theme: "Credit Profile Basics Credit Profile Basics Credit Profile."— Presentation transcript:

1 Credit Profile Basics Credit Profile Basics Credit Profile

2 The Term ‘Credit’ Is Used In Several Ways
Credit history Credit score Credit report Credit bureaus Credit profile Credit Profile Basics Credit Profile

3 How Buying On Credit Works
Credit Profile Basics Credit Profile

4 Three Credit Bureaus Experian TransUnion Equifax Credit Profile Basics

5 Credit Terms Defined Credit History
Information about how you have managed debt Credit Bureaus Companies that collect information about your debt Credit Score A numerical representation of your creditworthiness Credit Report A summary of your credit history and scores Credit Profile Basics Credit Profile

6 Understanding Your Credit Profile

7 How The Credit Bureaus Produce Reports
Understanding Your Credit Profile Credit Profile

8 Credit Reports Include The Following Information About Each Account
Date opened Type of account – installment vs. revolving Joint or individual Balance When the last payment was made Any past due information Limit Any additional terms Account status – current/open, closed, charged off, sent for collection Understanding Your Credit Profile Credit Profile

9 Credit Score Calculations Are Determined By
Fair Isaac Corporation (FICO) –independent from the bureaus VantageScore – joint venture among the bureaus

10 FICO Grading System Understanding Your Credit Profile Credit Profile

11 VantageScore Grading System
Understanding Your Credit Profile Credit Profile

12 Understanding Your Credit Profile

13 Tips For Getting And Keeping Great Credit
Pay all your bills on time Keep debt low Maintain a good credit score Keep inquiries to a minimum Have health and auto insurance Check your credit once a year Understanding Your Credit Profile Credit Profile

14 Access Your Credit Report
Credit Profile

15 Elements Of A Credit Plan
Access Your Credit Report Credit Profile

16 How To Obtain Your Credit Report
Go to AnnualCreditReport.com Click on “Request your free credit reports” Enter your personal information and click “next” Choose the bureau from which to request your report Verify information Access your free report Print or save as PDF file Access Your Credit Report Credit Profile

17 Sample Credit Plan Credit Report Credit Score
Pull from all 3 bureaus at once Get one from each bureau every 4 months Credit Score Free score from a company Purchase your accurate credit score Review the data for accuracy Start a credit report file Look for trends and identify long-term solutions Monitor regularly and set reminders Access Your Credit Report Credit Profile

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