Credit Score Scenarios

Which component has the MOST impact on your credit score?

• Payment History

• Amount Owed

• Length of Credit History

• New Credit

• Credit Mix

You were charged a late fee for not paying your credit card statement on time.

How will this impact your credit score?

• Increase

• Decrease

When we say one of the components is "New Credit", what does that mean?

• How many different credit cards or loans you are open/closing

• Whether you have different kinds of loans (car AND credit cards)

• How long you have had you accounts open.

• The percent of your credit limit you are using.

You cut back on your spending this month and used the extra money to pay off some of the debt that you owe.

How will this impact your credit score?

• Increase

• Decrease

You have closed three different credit cards this year and opened two new ones.

How will this impact your credit score?

• Increase

• Decrease

Jimmy John has a credit score of 675. What category does he fall into?

• Poor

• Fair

• Good

• Very Good

• Excellent

You paid your credit card balance in full this month.

How will this impact your credit score?

• Increase

• Decrease

Which life events are affected by your credit score?

• Getting a Car Loan

• Renting an Apartment

• Going on Vacation

• Winning the Lotto

• Getting a Credit Card

You have been managing your credit for over 10 years.

How will this impact your credit score?

• Increase

• Decrease

You are utilizing almost all of the credit available to you on your credits cards and are often close to your credit limit.

How will this impact your credit score?

• Increase

• Decrease