Hello everyone! My name is Brenda Butnick , and I am a financial coach at Jewish Family Service in Dallas. I work one-on-one with clients to help them achieve financial self-sufficiency.
In my last blog, I talked about credit scores, and today I will discuss additional information about credit scores.
What Are the Three C’s of Credit Scores? Character, capital (or collateral), and capacity make up the three C’s of credit scores. Credit history, collateral, and sufficient finances for repayment are all factors in establishing credit.
Reasons Your Credit Score Can Be Low Even If You Pay Your Bills on Time
- Limited or thin credit history
- High credit utilization
- Recent credit applications
- Identity theft
- Closing old accounts or paying off loans
- Mistakes on your credit report
- Unsecured borrowing
I will talk about how to repair your credit in my next post on Friday, September 19.
That is all for your Financial Fitness today! Until next time, take care and stay financially fit.
