This is a basic slideshow about the costs and benefits of credit. Especially informative for young adults or those who are applying for credit for the first time.

1. Money Wise CreditFrom debt to wealth

2. Benefits of good credit Convenience and emergency protection for unexpected disasters Allows budget flexibility Can help lower your overall cost of living by making you eligible for best rates on insurance, interest, etc.

4. Insufficient Income

5. Too short a period of residency or employment

6. Derogatory Credit history

7. Too many Inquiries

8. Overextended with Credit

10. 1-800-685-1111 www.equifax.com Equifax PO Box 740123 Atlanta, GA 30374-0123 1-800-888-4213 www.transunion.com Transunion PO Box 2000 Chester, PA 19022 1-888-397-3742 www.experian.com Experian 475 Anton Blvd. Costa Mesa, CA 92626 www.annualcreditreport.com 1-877-322-8228 Annual Credit Report Request Service PO Box 105283 Atlanta, GA 30348-5283 How to obtain credit reports & scores

11. What is credit scoring? A numerical score between 300-850 Determines if credit is granted, the amount offered, and interest rate Bill payment history, number and types of accounts, late payments, collection actions, outstanding debt and age of accounts are all factors in assigning a credit score

12. Determining credit scores An individual’s data is compared to consumers with a similar profile and a score is assigned based on factors that predict who is most likely to repay a debt

13. Credit scoring at a glance

15. The inquiry shows who accessed the credit report and the date of that action

17. Chapter 13 Bankruptcy filing stays 7 years from date of filing

18. Chapter 7 Bankruptcy stays on credit record for 10 years

20. Average debt per household

21. Average interest rate per household

23. Breaking the Cycle of Debt Put yourself in control Find out where you are today Establish or update your Spending Plan Track your successes Reward yourself along the way

25. Paying off debt vs. managing interest

27. Set short-, medium-, and long-range financial goals

28. Be focused and consistent

30. DO pay yourself first

31. DO pay bills on time, every month

32. DO reconcile your bank and credit card statements monthly

33. DON’T make just the minimum payment on your credit cards

34. DON’T live above your means

35. DON’T abuse credit

36. DON’T forget that credit card terms and costs benefit the card issuer