FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Why is it important to be consistent and pay your bills
on time every time?
Your credit score:
How it's calculated
POOR
EXCELLENT
10%
New credit
10%
35%
Types of credit
in use
Payment history
695
15%
30%
Credit Score
695 national average score
as of August, 2015
Length of
credit history
Amounts owed
Length of credit history is the largest part of
your credit score
Amounts owed is the largest part of your
credit score
Payment History is the largest part of your
credit score
New credit ( taking out a new loan or credit
card) is the largest part of your credit score
Types of credit used (credit mix) is the
largest part of your credit score
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