Give yourself some credit diane jane gultiano
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Transcript of Give yourself some credit diane jane gultiano
Give Yourself Some CreditUnderstanding You Credit Report
Diana Jane GultianoEconomics 101
Credit Report Fundamentals
Generated by three companies Experian, Equifax, TransUnion
FactorsHow much you owe to each companyPayment history for each company• Includes utilities, medical expenses, rent
How FICO is Calculated
Range – 760 (excellent) to 620 (poor)35% - Payment history30% - Amounts owed15% - Credit history length10% - New credit10% - Credit Types
Improve Your FICO Score
Pay bills on timeAvoid opening many new accounts
Open only if you intend to useKeep balances low
Less than 25% of credit limitReview credit report yearly