Credit Scores - Strategies to Improve If you Get Into Trouble by https://padlet.com/waynekennedy3/1bnxctea2izps2z4 GNED-1119 Money Matters Assignment 2 by Wayne Kennedy en-us 2022-11-20 13:11:56 UTC 2022-11-25 10:59:52 UTC hello@padlet.com waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391407645 1. What did you learn about the topic that most surprised you? 

What surprised me the most, was how simple the steps really are to improving your credit score. At a quick glance, the credit score system can seem intimidating and even a little confusing. With a bit of patience, and some research, you can quickly begin to understand just how simple the credit score system works. As well, once you understand it, it becomes easier to manage and improve your credit score by following the simple steps that are out there. 

2. Provide a real-life example of how this topic is relevant or interesting for you?

This topic is relevant to me because, just a few years ago I had a very low credit score. I couldn't even get approved for a credit card without having to a security deposit. After three years of monitoring and managing my debts and repayments, I was able to bring my credit score up several hundred points, and now I have sufficient credit cards with limits I never thought I could ever have. Getting approved for any type of financing or loans is a lot easier now.

3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on? 

The biggest and most important thing I have learned regarding credit scores and how to improve them is to watch your credit utilization, and stay within a manageable amount. Make payments regularly, even if it's just the minimum, and never miss a scheduled payment.  

]]> 2022-11-20 13:16:18 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391407645 Website 1: Credit Karma waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391410293 Credit Karma is a great resource for monitoring and tracking your credit score. The company offers tips and suggestions on ways to improve your credit score. They also suggest different credit cards that you may be eligible for based on your score. If you need to build or establish credit, a lot of the cards suggested are great!]]> 2022-11-20 13:21:05 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391410293 Website 2: Canada.ca waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391412034 The Government of Canada website offers tips on how to manage and improve your credit score.]]> 2022-11-20 13:24:08 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391412034 Website 3: Capital One waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391413642 Capital One is one of biggest credit card issuers for people with little to no credit established. Generally, when issuing your first credit card, Capital One, will ask for a security deposit. This security deposit can be anywhere from 25% to 100% of what the total credit limit of the card is. In most cases, the credit limit will small starting out, but with proper and responsible usage, Capital One will offer to increase your limit and return your security deposit in full.]]> 2022-11-20 13:26:53 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391413642 Video 1: 6 Credit Card Mistakes to Avoid as a Beginner by: Daniel Braun waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391415384 In this video, the creator goes over 6 credit card mistakes to avoid for beginners that are just getting started. These credit card mistakes are easy to avoid. Some mistakes worth mentioning are applying for too many credit cards, maxing out credit cards, 0% APR credit cards.]]> 2022-11-20 13:29:56 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391415384 Video 2: When to Pay your Credit Card Bill by: Daniel Braun waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391415761 This video, the creator goes over when to pay your credit card bills to avoid interest and when to pay to build your credit. The creator also goes on to explain what to look for on a credit card bill summary, and understanding when the bill cycle takes place.]]> 2022-11-20 13:30:43 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391415761 Video 3: Improve Your Credit Score by: Canadian In A T-Shirt waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391416283 In this video the creator goes over the seven most common steps for improving your credit. Those steps include; checking your credit score, using credit cards instead of cash, always paying bills on time, decreasing credit utilization, credit history, credit mix, and hard inquiries on your credit report.]]> 2022-11-20 13:31:36 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391416283 Image 1: 10 Simple Steps to Improve your Credit Score waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391417072 An image of a list with ten great tips to maintain and improve your credit score. Following these ten steps is the best way to ensure a strong and healthy credit score. These suggestions are simple but very effective!]]> 2022-11-20 13:33:00 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391417072 Image 2: What is A Good Credit Score? waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391417824 This is an image of how a credit score ranges, from poor to excellent. Understanding your credit score within the scope of this range is the best way to know where you stand and how much further you may need to improve.]]> 2022-11-20 13:34:21 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391417824 Image 3: Factors Affecting Your Credit waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391418244 This image shows the factors that affect your credit score rating. Understanding these factors is just another way to utilize and improve your credit score. It is quite helpful to see how these factors are broken down, and to compare them to your own breakdown of your credit usage and maintenance.]]> 2022-11-20 13:35:08 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2391418244 Website 4: Equifax.com waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2395481464 Equifax is an American credit reporting bureau, one of three of the largest credit reporting bureaus in North America. They provide consumers and businesses with consumer credit monitoring, identity theft prevention, commercial identity and fraud solutions, financial marketing and analytical services.]]> 2022-11-23 11:49:48 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2395481464 Video 4: How To Improve your Credit Score by: Equifax waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2395483073 In this quick video by Equifax, it offers some tips on how to improve your credit score, as always, tips like; paying your bills on time, checking for any signs of fraudulent activity, keeping your credit utilization low, limit applying for new accounts, and keeping old accounts open. ]]> 2022-11-23 11:51:26 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2395483073 Image 4: 5 Tips on Using Credit Cards Wisely waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2395499772 This is a simple, yet effective image showing 5 easy to understand tips on how to use your credit card(s) wisely. Misuse of your credit card on a repeated basis could severely impact your credit score. By being responsible and following these 5 guidelines can help ensure you maintain and build your credit successfully.]]> 2022-11-23 12:07:36 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2395499772 waynekennedy3 https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2397580600 In this padlet, I have provided various resources on ways you can improve and maintain your credit score. Credit scores are an important part of you every day finances. They provide a snapshot to credit card companies, banks, and financiers on your management of repaying credit/loans that are issued to you. Having a strong credit score, as well as a strong overall credit report is vital within today's society.]]> 2022-11-25 05:54:47 UTC https://padlet.com/waynekennedy3/1bnxctea2izps2z4/wish/2397580600