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University of Phoenix Material

Credit Score

Resources:
• Credit Karma website (www.creditkarma.com)
• Fair Isaac website (www.myfico.com)

Directions

Go to the Fair Isaac Co. website, www.myfico.com. Do not buy a credit score unless you choose to do so. For this activity, go to “Learn about scores”. Review this page, and follow the link to “What’s in your score”. From this page, follow the links to learn more about credit scores.

Note: You do not have to share your personal credit score or other details in this worksheet.

Using what you have learned about credits scores and the Five C’s, respond to the following in 50-to 100-words each:

1. Your household cash flow helps to determine which C? Describe this C.

2. When are the five C’s important?

3. Why is a credit score important?

4. What are the top 2 factors in your FICO score? What actions can you take to earn the most points in these categories?

Credit Reports

DIRECTIONS:

Go to www.annualcreditreport.com, the only site authorized by the Federal Trade Commission to provide free consumer credit reports. Request one free credit report from one of the three credit reporting agencies (if you are unable to download a report, complete this activity using a sample credit report from www.experian.com)

Using what you have learned about credits reports, respond to the following in 50-to 100-words each:

1. What type of information is included on your credit report?

2. What did you find surprising about credit reports?
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