1. 1 Module 1.2 Analyze Your Credit Report and Score Core PFRP for Transition Module 1.2

2. 2 Module 1.2 Analyze Your Credit Report and Score Analyzing Your Credit Report & Score 2 13.3

3. 3 Module 1.2 Analyze Your Credit Report and Score Credit Reports 3 A credit report is a record of an individuals credit history. It contains: Credit Employment Residences Judgments Tax Liens Bankruptcies Inquiries

4. 4 Module 1.2 Analyze Your Credit Report and Score Credit Report Components 4 Personal Identification Name Address Date of Birth Social Security Number Employment Information Payment History (Trade Lines) – Credit Accounts Inquiries - List of everyone who accessed your credit report within the last two years Public Record Information Public recordsWage attachments LiensBankruptcies JudgmentForeclosures 13.4

5. 5 Module 1.2 Analyze Your Credit Report and Score Credit Reporting Agencies 5

6. 6 Module 1.2 Analyze Your Credit Report and Score FACT Act Provisions One free copy of your report from each CRA each year Right to a copy of your credit score for a reasonable fee One-call fraud alerts Active-duty alerts Trade-line blocking 6

7. 7 Module 1.2 Analyze Your Credit Report and Score 7

8. 8 What to Expect 8 Youll need to provide and validate: Name Address SSN Date of birth Current & previous address (if moved in last 2 years) Other information listed on your file An additional free report can be obtained if: Denied credit, insurance, employment, rental housing Adverse action was taken against you based on your credit file Unemployed Receiving public welfare assistance Your state offers a free or reduced-price credit report Youve been a victim of identity theft

9. 9 Module 1.2 Analyze Your Credit Report and Score What Is A Credit Score? 9

10. 10 Module 1.2 Analyze Your Credit Report and Score What Is A Credit Score? 10 Vantage

11. 11 Module 1.2 Analyze Your Credit Report and Score The Score Matters Higher scores = lower interest rates & more credit 11

12. 12 Module 1.2 Analyze Your Credit Report and Score Where To Get A Score 12 13.5

13. 13 Module 1.2 Analyze Your Credit Report and Score Credit Score Components 13

14. 14 Module 1.2 Analyze Your Credit Report and Score Improving A Score 14 Ensure credit report is accurate Make all payments promptly Stay within credit limits Take advantage of auto payment plans/options Set up a bill-payment calendar Match credit to appropriate purchase Dont exceed 10% of the limit on a credit card Pay down installment loans Dont add new accounts to lower balances on older ones Establish new credit only if you have little existing history Keep your older accounts in good standing Limit inquiries

15. 15 Module 1.2 Analyze Your Credit Report and Score Correcting A Report 15 Request positive missing information be added Request errors/erron eous information be removed Request outdated information be removed Place a consumer statement on the report Avoid credit repair agencies!

16. 16 Module 1.2 Analyze Your Credit Report and Score Fixing A Report 16

17. 17 Module 1.2 Analyze Your Credit Report and Score Fair Credit Report Act Consumers have the right to: Consumers have the right to: – know the contents of their report – an accurate and complete file – have mistakes fixed – tell their side of the story – a fresh start – understand their report – know who has seen their report – confidentiality – know if their report has been used against them – sue the CRA 17

18. 18 Module 1.2 Analyze Your Credit Report and Score Who Can See Your Credit Report? 18

19. 19 Module 1.2 Analyze Your Credit Report and Score Whats Worth Knowing? Wrap-Up 19