What Determines Your Credit Score? (Video)

Report cards don’t stop once you graduate. As an adult, you get a new kind of report card–a credit report. In this video, we go over why it’s important to have a good credit score as well as how your actions affect your score.

Table of Contents

Here’s a breakdown of how banks view various credit scores:

Excellent Credit: 750+
Good Credit: 700-749
Fair Credit: 650-699
Poor Credit: 600-649
Bad Credit: below 600

For all of you newcomers who are just joining us, this video is part of a series called #BrokeUniversity where we break down the most important personal finance basics in 90-second videos.

Did you miss the first seven #BrokeUniversity classes? Check them out!

Orientation
Class #1 – The Easiest Way To Start Budgeting
Class #2 – What To Do With The Money You Save
Class #3 – 401(k), IRA, Traditional and Roth
Class #4 – How The Wealthy Think About Income
Class #5 – How Taxes Affect Your Paycheck
Class #6 – Borrowing Money? Then You Need To Understand Interest Rates

Read the original article on Invibed, Copyright 2015. Invibed is an online destination that makes personal finance relevant, accessible and entertaining to millennials. Follow Invibed on Facebook and Instagram.

Author

Dani Pascarella, Invibed

Prior to founding Invibed, Dani was an Investment Specialist at J.P.Morgan, where she managed assets for ultra high net worth individuals ($25MM+). She holds a M.S. in Journalism from Columbia University and previously worked at CNBC on the show Mad Money with Jim Cramer. Dani is fluent in sarcasm and has a deep appreciation for dance parties and all things neon.
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