Financial
Empowerment Videos

Why Should I Know My Credit Score

Financial Empowerment Coach

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Empowerment Videos
  • What Makes Up A Credit Score
  • Money and Mindset
  • Budgets and Spending
  • Taking Control of Shopping Security
  • Budgeting Shopping Events with the Companion Card
  • A Customer Story on How to Avoid Overdraft Fees
  1. What affects my credit score?
    Every situation is unique, but in general experts say five factors affect your credit score:
    Source: www.myFICO.com
    • Amounts owed – 30% of score
    • Length of credit history – 15%
    • Payment history on accounts – 35%
    • Types of credit used – 10%
    • New credit – 10%
  2. How can I get my credit report and credit scores for free?
    • CreditKarma.com provides free credit reports and lets you track and optimize your credit score free online.
    • AnnualCreditReport.com provides a free annual credit report you can view and print online.
  3. Where can I get advice?
    • myFICO.com provides information on how to repair and improve your FICO credit score.
    • Sign up here for the FDIC’s free Money Smart program. (in English and Spanish)