Build your credit score! Luke Erickson & Lyle Hansen University of Idaho Extension

Build your credit score! Luke Erickson & Lyle Hansen University of Idaho Extension

Costs

Two Parts Video/online tutorial Gameshow activity

Video

Online Module

Online Module

Online Module

0:0 Welcome to Who Wants to be a Credit Score Millionaire? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question The website to access your free credit report with no fees is: 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: AnnualCreditReport.com B: CreditReport.com C: FreeCreditReport.com D: DudeWheresMyScore.com

Adults N= Gender 0 or older % Age Male % 0- % - % 0- % Female % 0- % 0- % African American % Hispanic % Race or Ethnicity Caucasian % Other % Asian % Native American % Eskimo/ Pacific Islander 0% $k-$, % $k-$, % $k or more % Income $k-, % $, or less % $k- $, % $k-$, %

Youth N= Gender Eskimo/pacific Islander % Native American % Race or Ethnicity Other 0% African American % Asian % Female 0% Male 0% Hispanic 0% Caucasian %

Credit Score Millionaire (Adults). I know how to build a good credit score. I am confident in my ability to increase my credit score.. I (plan to) regularly obtain my free credit report at annualcreditreport.com to ensure an accurate and improving credit record. After class Before class. I (plan to) take action to improve my credit score.. I (plan to) teach others how to build a good credit score. 0% 0% 0% 0% 0% 00% Agree or Strongly Agree (%)

CSM (Adults) Not use a finance company for any more purchasing. Pull my credit report and look for errors. Pay down my credit card. Watching debt/limit ratios. The six industries which utilize credit scores. Will use all of the information in my classes. I plan to go over the five factors in determining your FICO credit score.

Credit Score Millionaire (Youth). I know how to build a good credit score. I am confident in my ability to increase my credit score.. I (plan to) regularly obtain my free credit report at annualcreditreport.com to ensure an accurate and improving credit record. After class Before class. I (plan to) take action to improve my credit score.. I (plan to) teach others how to build a good credit score. 0% 0% 0% 0% 0% 00% Agree or Strongly Agree

CSM (Youth) Build good credit score by paying my debts. Never get a bankruptcy. : )) Ask parents what their credit score is. Build my credit score when I m in college. Try to be smart with my credit score (in the future) and not miss a payment. To not let my score get below 0.

0:0 Welcome to Who Wants to be a Credit Score Millionaire? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question The website to access your free credit report with no fees is: 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: AnnualCreditReport.com B: CreditReport.com C: FreeCreditReport.com D: DudeWheresMyScore.com

0:0 $,000 Question The website to access your free credit report with no fees is: 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: AnnualCreditReport.com B: CreditReport.com C: FreeCreditReport.com D: DudeWheresMyScore.com

0:0 $,000 Question Which of the following causes the most damage to your credit score? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: Bankruptcy B: Foreclosure C: Short Sale D: Repossession

0:0 $,000 Question Which of the following causes the most damage to your credit score? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: Bankruptcy B: Foreclosure C: Short Sale D: Repossession

0:0 $,000,000 Question The closer your balance to your credit limit, the greater the negative impact. Anything above % is considered a high debt ratio & can drop your score. 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: 0% B: % C: 0% D: 0%

0:0 $,000,000 Question The closer your balance to your credit limit, the greater the negative impact. Anything above % is considered a high debt ratio & can drop your score. 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: 0% B: % C: 0% D: 0%

YOU WIN $ MILLION DOLLARS!

0:0 Welcome to Who Wants to be a Credit Score Millionaire? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

PowerPoint template by Mark E. Damon (used with permission) Content from The Road to 0 by Al Bingham Created by Luke Erickson Madison County Extension erickson@uidaho.edu Download for free at idahostwocenttips.com

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $00 Question Which of the following is NOT one of the three major credit bureaus? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: FICO A: FICO B: Experian C: Equifax D: TransUnion

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $00 Question Which of the following is NOT used to match information on your credit report? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: Email Address B: Social Security # C: Name D: Birth Date

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $00 Question The single most important factor in building good credit is: 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: Never use a credit card B: Never miss a payment! C: Never close an old account D: Never check your own score

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $00 Question This type of loan will damage your credit score even when paid back on time. 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: Auto Loan B: Credit Card C: Finance Co. Loan D: Mortgage

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question Which two factors make up % of your FICO credit score? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: New accounts & length of accounts B: New accounts & types of credit C: Payment history & amount owed D: Types of credit & length of accounts

the $,000 Milestone!

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question The website to access your free credit report with no fees is: 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: AnnualCreditReport.com B: CreditReport.com C: FreeCreditReport.com D: DudeWheresMyScore.com

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question Which of the following causes the most damage to your credit score? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: Bankruptcy B: Foreclosure C: Short Sale D: Repossession

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question What is highest possible FICO score? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: 00 B: 00 C: 0 D: 0

Distribution of FICO Credit Scores

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question Studies show that about % of all credit reports have at least one error. 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: 0% B: 0% C: % D: %

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question The total potential increased costs of having a credit score of instead of 0 is: (includes 0 yr $00k mortgage, yr 0k auto loan, $0k balance credit card, homeowner s and auto insurance) 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: $00,000 B: $0,000 C: $0,000 D: $,000

the $,000 Milestone!

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question The difference (+/-) between a FICO score and a FAKO score (any score other than FICO) can be up to points. 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: B: C: 00 D:

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000 Question Which of the following has the smallest negative impact on a credit score? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: Short Sale B: Foreclosure C: Walk Away D: Deed in Lieu

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $0,000 Question Golden accounts add substantial value to your FICO score. How long must you have an account for it to be considered golden. 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: 0 years B: years C: years D: D: 0 0 years

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $00,000 Question A chapter bankruptcy (debt restructuring) remains on your credit report for seven years from the filing date. How long does a chapter bankruptcy (liquidation) remain on your report? 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: 0 years B: years C: 0 years D: years

0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00

0:0 $,000,000 Question The closer your balance to your credit limit, the greater the negative impact. Anything above % is considered a high debt ratio & can drop your score. 0 $ Million $00,000 $0,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $00 $00 $00 $00 A: 0% B: % C: 0% D: 0%

YOU WIN $ MILLION DOLLARS!