Credit Ratings and Credit Scores

Front

Identify the three main credit bureaus.

Back

Experian, TransUnion, Equifax

Front

What information is included in a credit report?

Back

Personal information, types of debt, payment history

Front

What is the range of credit scores that Kayla might be referring to?

Back

300-850

Front

Which factors should you focus on to improve your credit score?

Back

Payment history, credit utilization, length of credit history

Front

What is the purpose of credit bureaus?

Back

They track individuals' financial lives and calculate credit scores

Front

What should Keyin do to improve his credit score?

Back

Pay his bills on time and reduce her outstanding debt

Front

How do credit bureaus collect information?

Back

They collect information from lenders and merchants who report spending and repaying behavior

Front

What is the purpose of the 'public information' section in a credit report?

Back

To provide details about any liens, bankruptcies, lawsuits, and foreclosures.

Front

Why might credit scores from different bureaus be different?

Back

Each bureau uses a different version of the FICO® formula

Front

Who tracks all of your credit information?

Back

Credit reporting agencies (Equifax, Experian and TransUnion)