As a Non-Profit, Capital Good Fund Provides Financial Services That Better the Lives of Rhode

Islanders

Financial CoachingMicroloans

3

The Coaching Process

Find us Online: www.capitalgoodfund.org

Budgeting

Reframe the way you think about your spending

The Credit System

Credit ScoreLearn what factors affect your credit score.

35%

30%

15%

10%

10%

Score Breakdown

Payment History

Amounts Owed

Length of Credit History

Types of Credit in Use

New Credit

How does your credit score impact your life?

* Insurance

* Applying for a job

* Interest rates

*Getting an apartment

Building Credit Tips

1. ALWAYS make at least minimum payments and pay current credit card bills and loans on-time.

2. CHECK your credit report for free once a year from www.annualcreditreport.com and write dispute letters if needed.

3. FOCUS on feeding your credit report new, positive information.

4. PAY DOWN your balances until you have no more than 30% borrowed of your available credit.

5. AIM for a healthy mix of installment loans and credit cards.

6. LIMIT hard inquiries to targeted periods of time.

7. MAKE SURE your credit limits are properly listed on the credit report.

8. NEVER close your oldest active account in good standing.

Fringe & Predatory ServicesFinancial services and agencies to avoid:

-Payday lenders-Rent-to-own store-Pre-paid debit cards-Pawnshops-Check Cashers-Tax Preparation

AlternativesCapital Good FundNavigant Credit Union

Banks and credit unions can replace check cashers and pre-paid debt cards with free or low cost accounts.