Assignment: Your Credit Report

Good personal credit standing is integral to financial success. As an individual, you are judged by your personal credit. Your credit rating is not only used to determine your ability to borrow on a mortgage, car, or credit card, but it is also used to judge whether you can rent an apartment, obtain insurance, or even get a job. As a college student, your success is determined by your grade point average (GPA). Once you are a working professional, it is your credit score that measures your financial success in life. This assignment will help you understand your own credit as well as factors that determine your current credit.

Based on your credit report, write a paper to address the following questions. Do not share personal information that may be confidential.

1. What is your initial reaction to your credit report? Describe any surprising elements you noted in the report.

2. Which elements in your report do you think would have a positive impact on your credit score and which elements would have a negative impact on your credit score? Explain your answer.

3. How do you think you could improve your credit score? Create a five-point plan to raise or maintain your credit score. Be sure to do the following:

a. Specifically reference the guidance in your textbook to address this question.
b. Use credible Web sites to guide you.

4. In addition to your credit report, what are the other events/areas in your life, which specifically relate to your financial goals that are impacted by your credit rating? Explain at least three of these events/areas..

Write a 3-4-page paper in Word format. Apply APA standards to citation of sources.