• What your credit report and credit score mean

• Where to get your credit report - annualcreditreport.com is the ONLY place to get your full credit report for free from all 3 credit bureaus

• Where to get your credit score - first try credit card apps (Amex, Chase, Citibank, Discover, Capital One)

• How to review your credit report

• How often to review your credit score and report

Where do I get my true credit report and score and how do I review my report?

Your credit report vs. your credit score

• Credit Report

  • What it is - creditors report your credit activity to 3 credit bureau - Experian, Equifax, and Transunion

  • Where to get it - annualcreditreport.com is the only truly FREE place to get your credit report from all 3 bureaus and you can check it weekly

• Credit score

  • What it is - a scoring system based on the activity on your credit report

  • Where to get it - check your credit card apps first to get a free FICO score (Amex, Chase, Citibank, Discover, Capital One)

How to read your credit report

• Go to annualcreditreport.com and download all three reports

• Let’s go through all three reports together

  • Equifax

  • Experian

  • Transunion

How is my credit score calculated?

Random scoring system to determine your “credit worthiness”

RANGE: 350-850

BAD: below 600

FAIR: 600-650

GOOD - 650-700

GREAT - 700-760

FULL ACCESS - above 760

GOOD CREDIT = access and interest rates

HARD INQUIRY affects your credit - you are trying to borrow money (credit card,  auto loan,  mortgage, personal loan, student loan, landlord)

VS 

SOFT INQUIRY does not affect your credit - you are not trying to borrow money (you checking it, employer, utility, cellphone, insurance)

The official credit score calculation formula (as far as they'll tell us anyway)

Low or no credit score?

• Start with a secured card - we like Capital One’s secured card

• Pay down credit card balances aggressively on 1-2 cards

• Get your past and current rent payments reported through https://esusurent.com/tenants/ - cost $50/year 

• Try Experian Boost to report utility payments and other bills

• Start a savings account that builds your credit through SelfLender.com (a little pricey - you’re borrowing money from yourself at 12-15% interest)