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  • Lab 1-1 Credit

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    Kimberly Anne SP Padilla
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    Credit reports are generated by three major companies and provide information on payment history, amounts owed, and timeliness of payments to utilities, medical providers, lenders, and landlords. A FICO credit score typically ranges from 300 to 850, with over 35% determined by payment history and under 30% by amounts owed. Maintaining a good payment record, limiting new credit applications, keeping balances below 25% of credit limits, and annually reviewing credit reports can help improve one's FICO score.

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    Laboratory 1-1 Credit Computer Subject

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    Credit reports are generated by three major companies and provide information on payment history, amounts owed, and timeliness of payments to utilities, medical providers, lenders, and landlords. A FICO credit score typically ranges from 300 to 850, with over 35% determined by payment history and under 30% by amounts owed. Maintaining a good payment record, limiting new credit applications, keeping balances below 25% of credit limits, and annually reviewing credit reports can help improve one's FICO score.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    25 views4 pages

    Lab 1-1 Credit

    Uploaded by

    Kimberly Anne SP Padilla
    Credit reports are generated by three major companies and provide information on payment history, amounts owed, and timeliness of payments to utilities, medical providers, lenders, and landlords. A FICO credit score typically ranges from 300 to 850, with over 35% determined by payment history and under 30% by amounts owed. Maintaining a good payment record, limiting new credit applications, keeping balances below 25% of credit limits, and annually reviewing credit reports can help improve one's FICO score.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 4

    Give Yourself Some Credit

    Understanding Your Credit Report


    Eldie E. Padilla Economics 101

    Generated by three companies


    Experian, Equifax, TransUnion

    Factors
    How much you owe to each company Payment history for each company
    Includes utilities, medical expenses, rent

    Credit Report Fundamentals

    Range 760 (excellent) 620 (poor)


    35% 30% 15% 10% 10% Payment history Amounts owned Credit history length New credit Credit types

    How FICO Is Calculated

    Pay bills on time Avoid opening many new accounts

    Open only if you intend to use

    Keep balances low


    Less than 25% of credit limit

    Review credit report yearly

    Improve Your FICO Score

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