Your Good Credit

1. Your Good Credit Extension AgentContact Information Adapted from Georgia Cooperative Extension

2. Five C’s of Credit • Character • Capacity • Collateral • Capital • Conditions

3. Free Credit Reports • Fair and Accurate Credit Transactions Act • (http://www.annualcreditreport.com) • or call (toll free) 1-877.322.8228.

4. Information in Credit Reports • Personal Information • Credit History • Inquiries • Public Records

5. Credit Averages

6. Your Credit Score

7. Determining Your Credit Score 690? 385? 745? 510?

8. Where you borrow makes a difference Pawnshops Rent-to-Own Car Title loans Pay-Day loans Refund Anticipation Loans Most Expensive/Highest Interest Rates/ Bad Credit Secured Credit Cards “ Buy Here, Pay Here” Car Lot Loans Retail Credit Cards Other High Interest Credit Cards Consumer and Sales Finance Company Loans Debt Consolidation Loans Home Equity Lines of Credit Personal Lines of Credit Unsecured Bank credit Cards Bank Loans Secured by Large Purchases Subprime Mortgages Least Expensive/Lowest Interest Rates /Good Credit Signature Loans Premium Credit Cards Home Equity Loans Travel &Entertainment Cards Unsecured Bank Loans Prime Home Mortgages Loans against cash-value Insurance policies Interest-free Programs Free or reduced interest rate loan or credit card offers

9. Credit Dangers • Using credit cards to live beyond your means. • Relying on creditors to set your credit limit. • Carrying a balance on credit cards. • Making only the minimum payment on credit cards. • Buying the wrong items on credit.

10. Your Good Credit Depends on You • Check your credit report…often. • Address negatives on your report. • Avoid adding negative information. • Shop around for the best terms. • Use credit wisely.