Credit Score Builder
Understand why standard credit score factors: Payment history (35%) — most important; Amounts owed/utilisation (30%); Length of credit history (15%); Credit mix (10%); New credit/inquiries (10%).
5
Lessons in this module
How scores are calculated
Understand why standard credit score factors: Payment history (35%) — most important; Amounts owed/utilisation (30%); Length of credit history (15%); Credit mix (10%); New credit/inquiries (10%).
Payment history (35%)
Understand why predictive power is why payment history dominates.
Credit utilisation (30%)
Understand why utilisation = balance ÷ credit limit.
Length of credit history
Understand why more data reduces uncertainty.
Building credit at 18
Understand why secured cards solve the credit catch-22.
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