1. Credit score and review for test

2. Bell Ringer 1/25/16 What is a credit score? How do you go about building a GOOD score? How do you get a BAD score? Just put down what you know/think!

3. Criteria for Credit Score: How your score is determined Do you pay on time? Are you employed? What is your debt/credit ratio? Debt/ income ratio?

4. What is a credit score? Your credit score is the number that reflects your credit worthiness (can and will you pay a debt back?)

5. Credit Score video: watch and take notes Credit Score= trust score Range of credit score= 450-990 There are 3 companies that most often determine your credit score (and with varying degrees of value for each criteria) Equifax Experian TransUnion

6. After your credit score is determined, then a business can determine your ‘acceptable risk’ or the higher the risk (for not paying a loan back), the higher the interest and vice versa So how is your credit score determine? 1. Payment history: have you paid people back ON TIME 2. Outstanding debt/credit ratio: How much do you OWE based on the line of CREDIT that you have? For example: if you owe $500 on a $500 credit card limit, you have a HIGH debt to credit ratio 3. Account History: length of your accounts open 4. Recent Inquiries: How often do companies/businesses check your credit report? How often do you? 5. Types of credit: Do you have a mortage, credit card, and a car loan? Do you have all credit cards?