Build Better Credit

A good credit history _________________.

• Increases your loan.

• Increases the confidence of lenders and creditors when they loan money to you.

• Increases your debt.

• Does not effect you at all.

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What is the first thing a lender will do when you apply for credit?

• Request your income.

• Ask you if you own or rent.

• Request a copy of your credit report.

What factors are used to calculate your credit score?

• Payment history

  Amounts owed

  Length of Credit history

  New Credit

  Types of credit used

• How much you have in your checking account.

• Use of credit cards

One of the ways for you to establish your credit is _____________

• Use Cash for everything you buy.

• Open a checking and savings account.

• Maximize your credit amounts.

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What does it mean to Establish Credit Independently?

• To have someone cosign for you.

• To have credit under your name only.

• To have credit with your partner.

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How do you restore your credit?

• Contact former creditors wi.th whom you've had a good payment record.

• Carefully review any credit card offers you receive.

• Avoid disreputable credit repair companies at all cost

• All of the above.

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CCSS.RI.11-12.3

CCSS.RI.11-12.5

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