Credit Score
What is a credit score?
3 digit number that represent where you get loans, mortgages, or receive a credit card
What is a credit report?
detailed record of how you've managed your credit over time (loans, credit cards, mortgages)
What do the agencies generate?
credit reports
What is another way to improve your credit score?
lowering your utilization rate and amount of debt
Why is it important to make sure your credit score is good?
can give you lower interest rates and lower insurance rates in the future
Why should you always be checking your credit report?
to avoid fraud or mistakes that could harm your credit standing
What are the 3 main things that Credit Report Agencies do?
compile, maintain, and distribute credit information on individuals and businesses
What are 2 ways that can hurt your credit score?
late payments, applying for more credit
How many digits is in a credit score?
3 digits
What are the main companies that offer free credit report?
Equifax, Experian, and Union
What are the 3 major credit reporting agencies?
Equifax, Experian, and Union
What is the best way to help your credit score?
stay consistent on your payment loans