Credit

5 best things to establish credit

1 Get a credit card 2 Use credit cards wisely 3 Get another form of credit 4 Pay all bills on time 5 Don't close an unused card account

Credit Mix

10%

New Credit

10%

◻ What is a good credit score? ◻

700 is good credit. 500-700 is okay not that good. Good credit you will have low interest rates and bad credit you will have high interest rates. 820 is the golden number for credit. People will spend more with a credit card than cash. The credit company makes money everytime you swipe your card.

◻ How can you build credit?

◻ HAVE a CREDIT CARD! Loans. Pay your bills on time

Length of Credit History

15%

Amounts Owed

30%

Payment History

35%

What are the effect of bad credit?

Higher interest rates. No/ difficulty getting a loan, hard time getting a place to live with bad credit (mortages & rent), insuarance rates go up, can have impact on your job if you work with finances.

How many FREE credit scores can every consumer get each year? .

One free credit score from each company

Ways to establish good credit and how bad credit can affect you financially

Some ways to establish good credit is by getting a credit card, paying your bills on time, get other forms of credit, use your credit card wisely, and don't close your accounts.Credit can affect a person's financial stability throughout life because it can be more difficult to get a loan or to rent a place due to the fact that you have a bad credit score. A bad credit score can say that you do not know how to spend your money or that you can't be trusted to pay your bills on time.

◻what is credit?

◻ Delayed payment. IF you don't pay it back when you are suppose to then you will have bad credit, pay interest, and lose trust. Credit is so easy to get but so easy to mess up. ability to borrow or to purchase goods and services with payment delayed beyond delivery. 30 days to pay it off or you pay interest