Page 6 - Credit Builidng Toolkit By Adrean Yancy jr 3
P. 6
Credit Builder Toolkit
Credit Building Toolkit: What It Is
A "Credit building toolkit" encompasses Here are some general knowledge and
many different products and services, all tips you need to know and understand to
designed for one thing—improving your make your journey of building your
credit score! A credit building toolkit is a dream credit score easier:
comprehensive set of tools and information
to help you understand the basics of credit, . Credit Score: Your credit score is the
build your credit score, and protect yourself number lenders use to decide whether or
against identity theft. There are many ways not they'll give you money when
that you can improve your credit score, but it applying for loans. There's no such thing
takes time. You have to be patient and as an "ideal" credit score requirement;
disciplined with these methods. The best way this number will vary depending on who
to start improving your score is by checking your lender is because there are many
out the detailed guidelines in this book. different ways to calculate it. You might
have heard that your FICO® score
measures how likely you are to repay a
The first section covers the most typical loan, which influences what those
credit builder cards from different credit numbers mean, but some lenders might
card issuers and bonuses on the Lists of use other methods to calculate your
authorized card issuers from companies like credit score, including the number of late
Chase, American Express, and common payments you've made and how much
questions and answers on authorized cards. debt you currently have. You can learn
Then you have credit builder checking more about what's in a good credit score
account or debit cards sections featuring for different kinds of loans here:
Varo, Extra, and Zoro. Later sections cover - Credit Bureaus
three major topics—credit builder installment - Consumer Reporting Agencies (CRA)
loans, consumer finance installment loans,
and credit building tools, plus everything you You're entitled to an annual free report
need to know before choosing credit- from each CRA once per year. This
building tools. That's not all; there is a bonus means that every 12 months, you'll be
section on how to write dispute letters. able to see all three reports at no cost as
long as it's within this time frame: a day
before your birthday; 30 days after
opening a new account or having one
closed due to delinquency; if there is a
material change in information like if
someone opens up a line of credit in
your name. Visit
AnnualCreditReport.com to get yours 3
now, or call 1-877-322-8228.
