[Natfinwellness] Credit Scores (Starting Score)

Fri Jun 24 12:46:09 EDT 2016

Hello,

My guess is that you've seen conflicting things on this topic because the
credit score formulas used are proprietary and secret. Since different
companies use different formulas and information in determining your credit
score, there is no standard beginning score.

The CFPB has a lot of good, unbiased information on this topic:
http://www.consumerfinance.gov/askcfpb/search/?selected_facets=category_exact:understanding-credit-reports-and-scores

The FTC as well: https://www.consumer.gov/articles/1009-your-credit-history

Hope this helps,

Kate Moody
@librarikate <https://twitter.com/librarikate>

Access Services Librarian
Lane Library, Ripon College
(920) 748-8750

300 Seward Street
P.O. Box 248
Ripon, WI 54971-0248

[image: twitter] <https://twitter.com/lane_library> [image: facebook]
<https://www.facebook.com/LaneLibraryRiponCollege> [image: bloggerlogo]
<http://lane-library.blogspot.com/>

On Fri, Jun 24, 2016 at 8:22 AM, Christel, Patricia <
Patricia.Christel at navient.com> wrote:

> Hi,  Navient and EverFi offer free, open to the public interactive video
> on credit scores (along videos on student loan repayment options, how
> interest works and other topics), available here:
> https://www.navientpath.com/navientpath/curriculum/show?enrollment_id=9967228&signup=1
>
>
>
> --Patricia
>
>
>
>
>
> [image: cid:image001.jpg at 01CF4E7F.62992310]
>
>
>
>
> *Patricia Nash Christel *Vice President, Corporate Communications
>
> Navient
> 123 Justison Street, Wilmington, DE 19801
> 302.283.4076 (t) | 202.262.1531 (c)
> patricia.christel at navient.com
> * Navient.com*
>
>
>
>
>
>
>
>
>
> *From:* Natfinwellness [mailto:natfinwellness-bounces+patricia.christel=
> navient.com at lists.osu.edu] *On Behalf Of *Brenda J Cude
> *Sent:* Friday, June 24, 2016 9:08 AM
> *To:* natfinwellness at lists.osu.edu
> *Subject:* Re: [Natfinwellness] Credit Scores (Starting Score)
>
>
>
> The average score is around 690 and 720-740 is considered a good target to
> build a credit score (
> http://www.credit.org/credit-scores-good-credit-scores/?gclid=CjwKEAjwtLO7BRDax4-I4_6G71USJAA6FjN1jjQrduGk9gI4YKR8MUam_MkfOhJxpxMQPo1ERt_pdxoCoVzw_wcB).
>
>
>
>
> Average credit scores increase with age (
> https://www.creditkarma.com/trends/age) , income and state (
> http://www.valuepenguin.com/average-credit-score)
>
>
>
> I also think it's important to distinguish between FICO Scores (used by
> 90% of lenders) and VantageScores.
>
>
>
> bjc
>
>
>
> Credit.org What Credit Scores Are Good Credit Scores ...
> <http://www.credit.org/credit-scores-good-credit-scores/?gclid=CjwKEAjwtLO7BRDax4-I4_6G71USJAA6FjN1jjQrduGk9gI4YKR8MUam_MkfOhJxpxMQPo1ERt_pdxoCoVzw_wcB>
>
> www.credit.org
>
> When talking about what makes up a good credit score range, we referred to
> our infographic, “What is a good credit score?” The guidelines we use are
> fairly ...
>
>
>
>
>
> Average Credit Score in America: 2016 Breakdown
> <http://www.valuepenguin.com/average-credit-score>
>
> www.valuepenguin.com
>
> We break down what the average credit score is in America for different
> age groups, income levels, geographies and first time home buyers. We also
> break down how ...
>
>
>
> <https://www.creditkarma.com/trends/age>
>
> Credit Trends by Age | Credit Karma
> <https://www.creditkarma.com/trends/age>
>
> www.creditkarma.com
>
> Based on our data, there is a clear relationship between age and average
> credit scores. Generally speaking, younger consumers have lower credit
> scores on average.
>
>
>
>
>
> *Brenda J. Cude, Ph.D. *
>
> Professor and Undergraduate Coordinator
>
> *Department of Financial Planning, Housing and Consumer Economics*
>
> 102 Consumer Research Center
>
> College of Family and Consumer Sciences
>
> The University of Georgia
>
> 706-542-4857
> http://www.linkedin.com/in/brendacude/
>
> bcude at uga.edu
> <https://bluprd0210.outlook.com/owa/redir.aspx?C=vOIcKdF-3E-1tQaJcKgYQF7RyIsVntAImS-Xqj8YC7a38WwtY4lVWDFxHZFCLgm286cvpkiARdE.&URL=mailto%3asworthy%40uga.edu>
> Mailing Address: Department of Financial Planning, Housing and Consumer
> Economics, Dawson Hall, University of Georgia, Athens, GA 30602
>
>
>
>
> ------------------------------
>
> *From:* Natfinwellness <natfinwellness-bounces at lists.osu.edu> on behalf
> of LIPINOGA, LAUREN <LIPINOGA at mailbox.sc.edu>
> *Sent:* Thursday, June 23, 2016 6:41:19 PM
> *To:* natfinwellness at lists.osu.edu
> *Subject:* [Natfinwellness] Credit Scores (Starting Score)
>
>
>
> Greetings All,
>
>
>
> I’m working on revamping our Financial Literacy consultations and what is
> discussed during them. For our Building & Managing Credit consultation, one
> topic discussed is credit scores, including the range and if you’re just
> starting to build credit, where you generally start in terms of score? I
> know the range is obviously 300-850 but have seen conflicting things
> regarding where folks start in terms of a credit score. Does anyone know
> where I could find this information/know the answer so that I can pass on
> the appropriate information?
>
>
>
> Thanks!
>
> Lauren Lipinoga
>
>
>
> *Lauren E. Lipinoga, M.Ed.*
>
> *Coordinator of Financial Literacy, Student Success Center*
>
> Division of Student Affairs and Academic Support
>
> Thomas Cooper Library-Mezzanine
>
> 1322 Greene Street
>
> Columbia, South Carolina 29208
>
> Phone: 803.777.9972
>
> Email: lipinoga at mailbox.sc.edu
>
> [image:
> https://www.parkersearch.com/dashboard/uploads/photos/usc_long1351087132.jpg]
>
> http://www.sa.sc.edu/ssc/
>
>
>
>
> This E-Mail has been scanned for viruses.
>
> _______________________________________________
> Natfinwellness mailing list
> Natfinwellness at lists.osu.edu
> https://lists.osu.edu/mailman/listinfo/natfinwellness
>
>
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