Credit During the “Crunch” How to Thrive while others are trying to Survive!

Credit During the “Crunch”How to Thrive while others are trying to Survive!

Credit 101

1. Past Delinquencies… 35% of Credit Score

2. Revolving Debt Ratio… 30% of Credit Score

3. Average Age of Credit File… 15% of Credit Score

4. Mix of Credit … 10% of Credit Score

5. Inquiries… 10% of Credit Score

Credit Score Components • Past Delinquencies • Debt Ratio • Average Age of File • Mix of Credit • Inquiries

FICO score facts and fallacies • Closing my unused credit cards will improve my FICO score. •  True  False • My FICOcredit score should be the same at all 3 credit bureaus. •  True  False • When I get married, my credit report is merged with my spouse’s. •  True  False • Checking my own credit score will create an inquiry at the credit bureau, and that will lower my score. •  True  False • My annual household income is part of the calculation of my FICO score. •  True  False

Fair Credit Reporting Act Specifically States that Every Item Reporting on a Credit Report MUST: • Reporting Timely Information • 100% Verifiable Information • 100% Accurate Information

Credit Store is not your typical Credit Repair company! We: 1. Focus on Education 2. Assist in rebuilding 3. Provide a money back guarantee

Your Clients Credit is under ATTACK Use a Professional to help them!

Credit During the “Crunch” How to Thrive while others are trying to Survive!