Credit Safety

Credit

Sesar Villagrana 4B 12/5/2014

11th

Good Credit Score.

Define (Credit):Ability of a customer to obtain goods or service before payment, based on the trust that payment will be made in the future.


Five ways to calculate you credit score

1.payment history,

2.level of debt,

3.credit age,

4.mix of credit,

5.recent credit.

But not everything can affects your credit score.

ex: checking account overdrafts and utility payments won’t really help (or hurt) your credit score.

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Improve Your Credit Score

This is some ways you can Improve your credit score.


-Pay your bills on time, everytime.

-Don't get close to your credit score.

-A long credit history will help your score.

-Only apply for credit that you need.

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Good & Bad Credit Score.

Good:

A good credit report score in the 680-and-up range is good news. You can still get decent terms from lenders, but not as nice as those offered to borrowers with truly excellent credit scores. You'll also be able to refinance your mortgage for better terms on an existing payment structure.

Bad:

If your credit falls somewhere in this credit score range, financing terms will cost you big-time. For long-term loans, such as a 30-year mortgage, expect to see interest rates that are at least three percent higher than interest rates awarded to borrowers with good credit. For shorter-term loans, like a 36-month auto loan.

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Whats Credit Score And Why Its Important?

A good credit score allows you to save money on insurance and security deposits on new utilities and cell phone service. It's all about how you use credit that lets you to keep a good score.

A credit score is a number that strongly indicates to lenders and creditors how likely you are to pay back the debt you own.

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3 Habits That Lender You To A Good Credit Score.

  • Double-check the due date each month when your billing statement arrives. It's easy to remember, since your payment is always due on the same date each month.
  • Consider paying online to avoid delays in the mail
  • Sign up to have alerts sent to your computer or mobile device to remind you when your payment is due
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Reason Why Credit Score Is Important.

It determines the cost of future purchases.

It’s true that your GPA could determine certain aspects of your future, but your credit score is guaranteed to influence one thing – the cost of the big purchases you’re going to make after graduation.