What Determines Your Credit Score? (Video)

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Report cards don’t stop once you graduate. As an adult, you get a new kind of report card–a credit report. In this video, we go over why it’s important to have a good credit score as well as how your actions affect your score.

Here’s a breakdown of how banks view various credit scores:

Excellent Credit: 750+
Good Credit: 700-749
Fair Credit: 650-699
Poor Credit: 600-649
Bad Credit: below 600

For all of you newcomers who are just joining us, this video is part of a series called #BrokeUniversity where we break down the most important personal finance basics in 90-second videos.

Did you miss the first seven #BrokeUniversity classes? Check them out!

Orientation
Class #1 – The Easiest Way To Start Budgeting
Class #2 – What To Do With The Money You Save
Class #3 – 401(k), IRA, Traditional and Roth
Class #4 – How The Wealthy Think About Income
Class #5 – How Taxes Affect Your Paycheck
Class #6 – Borrowing Money? Then You Need To Understand Interest Rates

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