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Understanding Your Credit Score: A Comprehensive Guide by Forrest Wasko

Gain insight into your credit with "Give Yourself Some Credit: Understanding Your Credit" by Forrest Wasko. This essential guide explains the factors that impact your credit score from Experian, Equifax, and TransUnion. Learn about key elements such as payment history, credit utilization, and account age, which contribute to your FICO score. Discover practical tips on maintaining a healthy credit profile, including managing balances, timely bill payments, and strategic account management. Review your credit report annually to enhance your financial standing.

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Understanding Your Credit Score: A Comprehensive Guide by Forrest Wasko

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  1. Give Yourself Some Credit Understanding Your Credit Forrest Wasko Economics Guru

  2. Generated by three companies • Experian™, Equifax™, TransUnion™ • Factors • How much you owe to each company • Payment history for each company • Includes utilities, medical expenses, rent Credit Card Fundamentals

  3. Range-760(excellent) to 620(poor) • 35%- Payment History • 30%- Amounts owed • 15%- Credit history length • 10%- New credit • 10%- Credit types How FICO Is Calculated

  4. Pay bills on time • Avoid opening many new accounts • Open only if you intend to use Keep Balances Low • Less than 25% of credit limit Review credit report yearly Improve Your FICO Score

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