Credit Scores and Reports

Credit Scores and Reports

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Storyboard Description

PF 2nd Period

Storyboard Text

  • Tim asked Jan for financial advice, so they are meeting here to discuss.
  • It's a pleasure to meet you Tim. My name is Jan. I'll be your Financial Advisor.
  • Nice to meet you too! I'm thankful you're here to help because I have some questions about credit.
  • Can you please explain everything about credit scores to me, because it's quite confusing.
  • What are your questions?
  • Your credit score is a numeric value that shows lenders how risky it is to lend money to you.
  • Also, lenders create Credit Reports to show an individual's credit history. A credit history is a record of a borrower's past credit and loan-related transactions.
  • Okay, that makes more sense. But my parents didn't have a good credit history. So what can I do to have a positive credit history?
  • That's a good question. Here are 3 steps you can follow to build a positive credit history:
  • Step 1: Pay your bills on time. Not paying them on time will negatively affect your credit, and reliability with individuals. Step 2: Have a mix of credit accounts. If you mess up one, and you only have one, your credit will be negatively affected. And Step 3: Check your credit report annually. You want to be able to know how your credit is looking in case you need to borrow money.
  • I'll be sure to do that. Thank you for your help.
  • Of course! Just e-mail me if you have anymore questions.
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