Decoding Credit History: How Reports, Scores, and Algorithms Shape Your Financial Future скачать в хорошем качестве

Decoding Credit History: How Reports, Scores, and Algorithms Shape Your Financial Future

In this episode, we dive into the complex world of credit history, breaking down the difference between a credit report and a credit score. We explain how lenders use these records to determine your "creditworthiness"—essentially your ability and willingness to repay debts. Tune in to learn: • The FICO Formula: How the standard scoring model calculates your score based on five specific factors: payment history (35%), debt levels (30%), length of credit history (15%), account diversity (10%), and new credit inquiries (10%). • Hard vs. Soft Inquiries: Why checking your own score doesn't hurt you, but applying for multiple loans might. • Real-World Consequences: How "adverse credit" can lead to higher interest rates and even affect your ability to secure housing or employment. • Consumer Rights: The legal timelines for disputing errors on your report and your right to access free records annually. • The Immigrant Experience: Why credit history rarely travels across borders and the challenges of starting from scratch in a new country. Whether you are looking to improve your utilization ratio or just want to understand what lenders see when they pull your file, this episode covers the essential mechanics of consumer credit.