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Give Yourself Some Credit

Give Yourself Some Credit. Understanding Your Credit Report Grethel Beaton CGS1060. Generated by three companies ◦ Experian, Equifax, TransUnion Factors ◦ How much you owe to each company ◦ Payment history for each company Includes utilities, medical expenses, rent.

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Give Yourself Some Credit

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  1. Give Yourself Some Credit Understanding Your Credit Report Grethel Beaton CGS1060

  2. Generated by three companies ◦ Experian, Equifax, TransUnion • Factors ◦ How much you owe to each company ◦ Payment history for each company • Includes utilities, medical expenses, rent Credit Report Fundamentals

  3. Range - 760 (excellent) to 620 (poor) • ◦ 35% - Payment history • ◦ 30% - Amounts owed • ◦ 15% - Credit history length • ◦ 10% - New credit • ◦ 10% - Credit types How FICO Is Calculated

  4. Pay bills on time • Avoid opening many new accounts ◦ Open only if you intend to use • Keep balances low ◦ Less than 25% of credit limit • Review credit report yearly Improve Your FICO Score

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