Credit Base Icks
Credit NEWS
He Shoots He Scores!
Bad Habits or Good?
Weather Report
100
Lenders
Who Provides Credit?
100
Experian, Equifax, or TransUnion.
What are the credit bureaus?
100
Payment History
Which credit score factor is the MOST important?
100
Opening many accounts in a short time
What is a Bad Credit Habit — it lowers your score?
100
What method pays off the highest interest debt first?
200
Principle
What is the original amount borrowed?
200
Payment history, balances, credit limits, accounts, inquiries
What are items that appear on a credit report.
200
The percent of credit you’re using.
What is credit utilization?
200
Name one good credit habit.
What is...Low balances, paying early, monitoring credit reports, budgeting.
200
Creates Faster Motivation
What is the snowball method?
300
Ex. Revolving Credit
What is a Credit Card
300
Keeping balances below ___% is recommended.
What is 30%?
300
True or False: Minimum payments help you avoid interest.
❌ False — interest still builds.
300
This Method saves the most money long term
What is an AVALANCHE! method
400
Credit
What is Borrowing money now and paying it back later with interest.
400
A record of your borrowing and payment history.
What is a Credit Report?
400
300 - 850
What is a credit score range?
400
Paying bills on time.
What is the best habit to improve credit?
400
What method pays off the smallest debt first?
500
Ex. Installment Credit
What is
Car loan, student loan, mortgage.
500
Late payments, high balances, collections, too many inquiries, ignoring errors.
What are things that can hurt your credit report?
500
How is your Credit Score Calculated?
Your credit score is calculated based on the information in your credit report.
500
Explain how missing one payment affects your credit.
It lowers your score and stays on your report for up to 7 years.
500
You have three debts:
$200 at 12%
$900 at 20%
$3,000 at 6%
Which does each method target first?
Snowball → $200 first
Avalanche → $900 first