Did You Know?

The factors involved in calculating your credit score are loan repayment history, amounts owed, length of credit history, new credit account, credit applications and types of credit used. Contact the Financial Literacy Counselor, Jacqueline Walker for a financial literacy consultation.

Credit and Credit Scores, Why are they important to you?

• A credit score is a three digit number ranging from 300-850, that is derived from your credit history.
• A credit score provides a lender with a fast, objective measurement of your credit risk.
• Banks, credit card companies, auto dealers, retail stores, and most other lenders use credit scores to summarize your credit history, to determine risk for repayment or non payment of credit.

Saving Tips

• Create a budget (utilize online tools like mint.com or YNAB.)
• Pay credit card bills on time
• Use cash instead of credit to avoid spending more than your budget allows
• Find a car insurer who provides discounts for good grades
• Open a free student checking account
• Get low interests rates on your credit card