Credit Reports
Score Enhancement
Credit Report Codes
Transunion score
The 5 Cs of Creditworthiness
100
Barry has:
- Great credit history - all loans are paid on time
- Minimal unsecured debt
- Mix of borrowing (Auto, Credit Cards, Installment Loans and a Mortgage)
- Good mix proportion of installment and revolving debt
- High available capacity or credit utilization
- Established credit history
730+ Platinum
100
Delinquencies, Collections, Charge-offs and judgements stay on a members credit report for how many years?
What is 7 years
100
A tradeline that shows the member represented by a C shows that they are what type of borrower on that account
What is a Joint or Joint Contractual owner
100
Your TU credit score is affected by 11% when a member has this type of credit
What is New Credit
100
This C refers to your credit history and how you've managed debt in the past
What is Character
200
Victor has:
- A good credit history - all loans paid on time
- An ok mix of borrowing (Auto, Credit Cards, and an Installment Loan)
- Moderate available capacity or credit utilization
- Established credit history
680-729 A
200
Making payments on-time for this type of loan is the #1 thing that can help your score
What is a Mortgage
200
Using this tradeline what is the balance remaining on this credit card?
What is $919
200
This aspect of an individual's credit history is the most heavily weighted at 41% of their score
What is Payment History
200
This C includes your savings, investments and assets that you are willing to put toward your loan
What is Capital
300
Ann has
- A poor credit history
- Minimal unsecured debit
- Mix of borrowing (Auto, Credit Cards, Installment Loans
- 2 Credit cards past due and an auto Loan 1 month past due, charged of installment loan
- Low available capacity or credit utilization
- Poor credit history
550-599 D
300
Besides paying off their credit card debt, what is the next best way to help a member with their utilization percentage?
What is Open new or increase credit lines
300
In the Credit Summary section what does the number after NEG represent
What is the # of delinquencies
300
This 20% factor in the TU credit score relates to the usage of your credit available
What is Utilization or Capacity
300
This C refers to something you can provide as security for a loan
What is Collateral
400
Roy has:
- Newly establish credit history - all loans paid on time
- An ok mix of borrowing (Auto with a co-signer, Authorized User on a Credit Card and a Student Loan in deferment)
- High available capacity or credit utilization
An invalid Credit Score
400
Approximately how many points does a member lose if they have 20% utilization/capacity available
What is 80 points (1 point for every % used)
400
The date for this is found at the top of the credit report under 'Infile'
What is the Oldest Tradeline date
400
Out of the following, which does not affect your credit score: Inquiries, Income, Balances, Bankruptcy
What is Income
400
This C shows the members ability to repay a loan
What is Capacity
500
Helen has:
- Length of credit history short
- An ok mix of borrowing (Auto, Credit Cards and Installment)
- Low available capacity or credit utilization
- 2 Credit cards past due and an auto Loan 1 month past due
- Moderate credit history
600-639 C
500
Besides not opening new lines of credit, what is the thing a member should not do to help their Age of Credit?
What is Don't close your oldest Tradeline
500
RVL represents revolving debts: which of the following is an example of a revolving debt?
Auto Loan, Mortgage, Reserve Line of Credit, Personal Loan
What is Reserve Line of Credit
500
Having a all types of mortgage, secured loans, and unsecured loans is measured in this TU score factor
What is Age/Mix of Credit
500
This C includes any other information that helps determine whether you qualify for credit and the terms you receive
What are/is Conditions
600
Igor has:
- An average credit history
- An ok mix of borrowing (Auto, Credit Cards, and an Installment Loan)
- An Auto loan that while current, was past due a couple months ago
- Established credit history
640-729 B
600
A member has the following accounts, what is the average age for these accounts?
Citibank CC 10Years
Target Card 2 Years
GAP CC 0 Years
Kohls CC 0 Years
What is 3 years (12 years/4 accounts)
600
On an Auto Loan tradeline, what does 72M400 mean?
What is a 72 month loan with a $400 payment
600
The TransUnion Vantage 4 uses unique key factors like tracking early payments and full payoff data to give us this kind of credit score?
What is Trended Score or Trended Data
600
All 5 of these C's are used to judge a members what?
What is Creditworthiness