Credit Score Essay

Thesis Statement: Credit scores are a fair measure to help lenders estimate potential risk.
Thesis Statement: Credit scores are a fair measure to help lenders estimate potential risk.

IThere are many different companies that specialize in credit scores. Some of these companies include Experian, Transunion, and Equifax are the three most popular credit bureaus in use today.
A.Equifax – most up to date information, information good format and easy to understand
B.Experian – very reliable information can be old data that is being used to estimate score. Not updated regularly and site is user friendly
C. Transunion – very out of date information and site was hard to navigate with very confusing information
D. Talk about different information that is on site II Each credit bureau finds and handles their information differently and each creit bureau has their own formula for defining a persons credit score.
A. The generalized factors
B. each bureaus individual factors
C. how to boost those factors to help your score III For most people the idea of a credit score is daunting because until recently credit scores have not had such an impact on peoples borrowing.
A. discuss what score actually is
B. Who uses the scores
C. ways to protect yourself against a bad score
IV Recently with the newfound importance of a persons credit score, there have been issues with people falsely obtaining lines of credit using other peoples information
A. discuss fraud and identity theft
B. how to find out if you have been a victim
C. how to correct then protect yourself in the future
V With the wide varitey of information that lenders do use to estimate a persons potential risk and the amount of information that is used to compute a persons credit score, it can be said with relief that a persons credit score is a fair measure when a lender is looking at an individuals risk potential.
A. overview what is credit score made of
B. how is