Help!! Hey y'all, anyone still here? (Yawn~ excuse me, stayed up 'til 4am this morning to finish my data struct programs.) It's 11:30 Friday night here, and I'm working on my informative speech to be presented tomorrow at 9am. After wandering around with many topics, what the heck, I decided to make my speech on improving your credit. As my prop, I'm going to show an 11x17 picture of a brand new Lexus RX-300, mention its my aspiration to own one-relay in how like many, need to finance to get the car. yadda yadda yadda, where credit enters the picture, how to one should be informed when walking into a car dealer and introduce my thesis: How to Improve your credit rating. (so that you can walk out an owner) Dang, wish I had my report w/ me! lessee, point I. keep utilization ratio under 10% II. keep inquiries to a minimum 3. minimize # of accounts w/ balance 4. time- improves w/ age 5. credit portfolio: 1 retail 4 major issuers: amex, discover, visa, mc at least 1 paid installment loan -discuss how, start w/ bank loan secured w/ frozed savings or cd account a mortgage an auto loan coclusion, reiterate, yadda yadda, walk out of car dealer an owner. any suggestions? input? greatly appreciated. : )))
Sigh*, while everyone's out drinking and hooking up... I sit here finishing my speech outline. Thesis Statement: The five factors that the FICO risk score considers. Introduction: Introduce SUV aspiring to have. Need to finance. How to improve credit rating, need to know what factors are taken into the FICO scoring model. I. Payment history, 35% A. Payment information on all types of accounts B. Collection items and public records Bk, foreclosure, liens, judgement &, garnishments C. Details on delinquencies, lates, repos II. Keep utilization ratio under 30% A. Total amount owed, whatâ??s on the statement balance B. Showing balance on certain types of credit C. Number of accounts w/ balances D. % Utilization of revolving accounts E. Installment loan still owed vs. original loan amount III. Length of credit history, 15% A. How long credit accounts have been established Considers age of oldest account Considers average age of all accounts B. How long specific account established IV. Not open too many new credit, 10% A. Openning new accounts B. Length of accounts C. Recent inquiries or requests for credit Does not consider self inquiry Account review/Promotional review not counted Time since inquiry, score consider w/in year, report for 2 yr on file D. Good recent inquiry outweighs past problem, also known as rebuilding V. Keep the following credit mix portfolio, 10% A. 1 retail account B. 4 major credit issuers Visa MasterCard American Express Discover C. At least 1 paid installment loan D. A mortgage E. Minimize loans through finance companies Conclusion: reiterate the 5 factors, conclude w/ knowing factor to help increase score and walk out of the car dealer an owne. got all this from myfico. got my Lexus RX300 printed, ready to roll ))) heh heh lol Works Cited: http://www.myfico.com TransUnion and Equifax credit report
I like it. Of course, I would mention ways to make money with your credit. Methods of exercising ones credit, but I am biased, so ignore me. www.creditsense.com
