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Credit Scores

Credit Scores. Balancing Credit and Debt to Maintain Credit Worthiness. Credit Score. Rating agencies Experian Equifax Transunion May contact these agencies when there is a discrepancy between reported score and actual financial activity.

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Credit Scores

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  1. Credit Scores Balancing Credit and Debt to Maintain Credit Worthiness

  2. Credit Score • Rating agencies • Experian • Equifax • Transunion • May contact these agencies when there is a discrepancy between reported score and actual financial activity • A numerical expression of a person’s credit-worthiness • Based on a formulaic calculation by different rating agencies

  3. Credit Score Scale-Provides lenders with a rating system for determining rates for a potential customer Average score is “Fair” for American – primarily a result of the typical negative savings rate for most Americans.

  4. Influences on Individual Credit Score

  5. Breakdown of Rates Many people have what is considered to be “good” credit

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