MODULE 5
2. Credit Score Breakdown
Let’s Break it Down!
Watch this video and use page 14 in your workbook as a reference. I’ll break down your credit score and explain each component separately.
Tips to Remember…
Don’t close your accounts when you pay off a debt! Let your accounts age so you have a nice, long credit history.
Think long and hard before applying for new credit. This shouldn’t be something you take lightly. Only seek out new credit accounts after careful thought and planning.
Check your credit card balance and make sure it isn’t getting too high. The closer you are to reaching your credit limit, the more it can negatively impact your score.