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Credit Literacy Education

Understanding Credit – What is on a Credit Report and How is the Score Determined?

Your credit report is full of such wonderful information identifying your ability to pay back a debt over a lifetime. Your credit report will include information about you personally such as addresses and employment information. It will also include your social security number, date of birth and should always be checked for errors. It is common to find information entered …

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Understanding Credit – What is a FICO Score and How Does it Work?

FICO scores are the most commonly used scores by lenders in the United States. These scores are used to measure your credit worthiness. It is a number that predicts your likeliness of paying back a debt/loan. FICO scores are calculated based on facts stated in your credit reports at the 3 main credit bureau’s. Those are equifax, transunion and experian. …

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