Good day everyone! Today we are talking about the Credit Report. What in the world is it and why is it so important? A Credit Report is essentially a scorecard that judges how reliable you are at paying back borrowed money. The higher the score, the more reliable you are at paying back money. T The Basics of Borrowing You need something but have no financial ability to pay so you borrow money with a catch Like saying it will cost you $500 to borrow $20 from me The price attached with that is interest Percentage of cost Companies want you to pay the minimum balances- they earn more money Interest Varies: Rate Based on Credit History Credit Score Credit Score! Based on history, a Report Card for your finances Credit Score Breakdown Credit Score Depends on the Following Factors: Credit History Payment Debt Credit Accounts Opened Public Records Inquiries The Way to Begin Credit Repair is to look at the three Credit Agencies Transunion Equifax Experian LOOK AT IT LOOK AT IT LOOK AT IT Where to start paying back: Debt has a priority on what to pay back What impacts your Credit Score: Settlements/Collections Taxes Credit Cards Students Loans Car Payments Students Loans Home Loans Thank as always for listening! Y'all are fabulous. Instagram & Twitter: @stacksnthecity Music: www.bensound.com      

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