Acclaimed presenter, Eric Counts teaches you how to make your personal credit work for you instead of against you! Take an extensive look at scoring models and how credit utilization can impact credit score as profoundly as late payments, high revolving account balances and other factors. Learn about the credit monitoring industry and how the three credit monitoring companies became the gate keepers for personal finance. Eric will also share with you detailed strategies that you can implement immediately to manage you own credit more effectively, regardless of what your score is today. With comic relief and engaging dialogue, Eric Counts entertains as well as educates. Learn why it might not be you and it really is the bank. Find the latest credit trends and information you need to know. Come learn what it means to make the best credit choices possible and why sometimes “good” financial sense does not equal “good” credit sense.
Understanding Credit Class Day 1 Segments
This Pre-Assessment is to raise awareness of your current knowledge level and give you a glimpse of the information covered in this course.
Eric Counts, president and founder of Credit Nerds, loves teaching people about credit. He is one of the premier authorities in the country on managing and building credit. He teaches how to apply this information in an honest and ethical fashion.
03 HISTORY OF CREDIT
Credit is as old as recorded history. Learn here how it all began.
04 WHAT IS A CREDIT REPORT?
A credit report is not a static document but, instead, is a constantly changing readable form of data.
05 WHERE DOES YOUR CREDIT PROFILE COME FROM?
Do magic data fairies enter your data into magical credit databases?
06 WHAT INFORMATION IS IN MY CREDIT PROFILE?
Your credit report is a data form of your personal history, including such information as date of birth, place of birth, marriages, and much more.
07 WHO CAN VIEW MY CREDIT PROFILE?
Court or federal jury, creditors, employers and many others can view your profile – but it is not available to the general public.
08 WHAT DOES MY CREDIT REPORT LOOK LIKE?
Eric takes you through an Experian credit report, line by line.
09 WHAT IS MY CREDIT SCORE?
Credit score and credit report are two different things. Credit scores do not come from the three main credit bureaus; they come from a third party system. Credit scores are varied depending on where the report is pulled from.
10 DIFFERENT BUREAUS, DIFFERENT REPORTS, & THE TRI-MERGE REPORT
Each credit bureau has several different reports. Learn about them here.
11 CHECKMY3SCORES.COM AND Q&A
Eric shares where to go to get your most complete credit info, and then answers studio questions.
12 HOW CREDIT COMPANIES CAN IMPACT YOUR SCORE
Credit scores are based solely on risk. Learn how it works in this segment.
13 CREDIT SCORING – FICO VS. VANTAGE
Eric explains why FICO is more like Apple and VANTAGE is more like Android.
14 HOW CREDIT REPORTING WORKS
Payment history is only 35% of your overall report. Eric teaches what makes up the other 65%.
15 UTILIZATION RATIOS – TRENDED PAYMENT DATA & OVERALL INDEBTEDNESS
Eric explains trend payment data and how it factors into your credit report.
16 MANAGING RATIOS FOR CREDIT IMPROVEMENT
Eric discusses the credit utilization “sweet spot.”
17 HOW AGE OF FILE IMPACTS YOUR CREDIT PROFILE
Age of credit can have an impact on your overall credit. Learn about the impacts here.
18 MIX OF CREDIT & YOUR CREDIT PROFILE
A healthy mix of consumer debt, mortgages, auto loans, and others creates a positive credit profile.
19 WHY INQUIRIES MATTER & HOW THEY AFFECT YOUR PROFILE
Lots of inquiries and new accounts in a short period of time can hurt your credit, but inquiries are not necessarily bad.
20 DIFFERENCES BETWEEN FICO 08 & FICO 9 SCORING MODELS
What changed between FICO 8 and FICO 9?
21 BUILDING A GOOD CREDIT REPORT
Eric teaches some of the tricks of building a good credit report.
22 5 QUESTIONS TO ASK BEFORE OPENING NEW CREDIT
Eric teaches the 5 questions to ask before opening any account.
23 QUESTIONS & ANSWERS PART 1
Questions from the studio audience are answered.
24 QUESTIONS & ANSWERS PART 2
More questions from the class are answered and Eric wraps up the day.
This Post-Assessment is to measure your increased knowledge and see how much information you have retained from the course.