Credit Scores

Which of these are types of credit that affect your credit history (or credit score)?

• Home loans

• credit cards

• borrowing money from your friend

• venmo

• loan from a bank

What is a reason you would want to have a good credit score?

• You can qualify for better interest rates on loans

• You get a prize each year if your score is over 500

• You don't have to pay as much for goods and services if you have a good credit score

• You get more friends

What is another reason you would want to have a good credit score?

• To have more umbrellas

• You need it to get a job

• If you have a good credit score, it improves your chances of getting approved for insurance, apartment rental, or phone plans

• You can always get all the money you need from your parents because they can lend you cash when you need it

How can you improve your credit score in the payment history section of your score?

• Turn in an application

• Get a calendar

• Make your payments on time

• pay to have your score improved

Should you close old credit cards?

• No, keeping them open will increase your length of credit history

• Yes, close them right away when you are done using the credit card.

• It depends on your parents

• Ask your banker

True or false: You should apply for a whole bunch of credit cards and loans all at once.

• True- the more you have, the better!

• False- having lots of recent credit inquiries will lower your credit score

How can Jassmine build credit history?

• Buy lots of things with cash

• Get a house loan

• Go to the bank to ask for credit history

• Open a student credit card

Who tracks everyone's credit in the united states?

• the government

• three major credit bureaus

• Your parents

• you have to track it yourself