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Creating the Foundation   for Success
 
 
Credit Scores –  FICO ,[object Object],[object Object],[object Object]
[object Object],What Do the Scores Mean?
[object Object],[object Object],What Do the Scores Mean?
[object Object],[object Object],[object Object],[object Object],What Do the Scores Mean?
[object Object],[object Object],[object Object],[object Object],[object Object],What Do the Scores Mean?
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],What Do the Scores Mean?
CREDIT SCORE! Consumer Default: What are the Odds?
Odds on Consumers: 90 Days Late   Score     Odds Above 800 1292 to 1 760 to 799     597 to 1 720 to 759     323 to 1 700 to 719     123 to 1 680 to 699     55 to 1
Score    Odds   660 to 679    38 to 1   620 to 659    26 to 1   500 to 600     8 to 1   Below 500   Odds on Consumers: 90 Days Late FORGET IT!
 
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Cost of  Bad  Credit ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Copyright 2009 Wellness Credit
The Cost of  Bad  Credit ,[object Object],[object Object],[object Object],[object Object],Copyright 2009 Wellness Credit
A Low Credit Score Can Cost You BIG!  30 yr fixed rates on a $200,000 loan: FICO Score APR Rate Monthly Payment Interest Paid 720-850 5.125% $1,089 $192,033 700-719 5.375% $1,120 $203,180 680-699 5.5% $1,136 $208,807 620-679 5.875% $1,183 $225,904 620- N/A N/A N/A
Jack & Brad:  $200,000/30yr. Fixed   Only a 42 Point Difference! Jack Brad Salary Equal Equal Credit Score 721 679
  Jack & Brad :  $250,000/30yr. Fixed   Jack Brad Salary Equal Equal Credit Score 721 679 Yearly Savings $1,500 0
  Jack & Brad :  $250,000/30yr. Fixed   Jack Brad Salary Equal Equal Credit Score 721 679 Yearly Savings $1,500 0 Interest Saved over 30 Years $33,871 0
CREDIT SCORE! What are the determining factors?
[object Object]
1. Payment History… 35%   of  Credit Score
[object Object],Payment History : 35% of Credit Score
[object Object],[object Object],Payment History : 35% of Credit Score
[object Object],[object Object],[object Object],Payment History : 35% of Credit Score
[object Object],[object Object],[object Object],[object Object],Payment History : 35% of Credit Score
CREDIT SCORE! How long do delinquencies stay?
Delinquencies on Credit Reports ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Revolving Debt Ratio 30%   of  Credit Score
Revolving Debt Ratio:  30% of Score ,[object Object],[object Object],[object Object],[object Object],[object Object]
Revolving Debt Ratio:  30% of Score ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],Revolving Debt Ratio:  30% of Score
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Revolving Debt Ratio:  30% of Score
15%   of  Credit Score Average Age of Credit File…
Average Age of Credit File… ,[object Object]
Average Age of Credit File… ,[object Object],[object Object]
Average Age of Credit File… ,[object Object],[object Object],[object Object]
10%   of  Credit Score
Mix of Credit:  10% of Credit Score ,[object Object]
Mix of Credit:  10% of Credit Score ,[object Object],[object Object]
Mix of Credit:  10% of Credit Score ,[object Object],[object Object],[object Object]
Mix of Credit:  10% of Credit Score ,[object Object],[object Object],[object Object],[object Object]
Mix of Credit:  10% of Credit Score ,[object Object],[object Object],[object Object],[object Object],[object Object]
Inquiries … 10%   of  Credit Score
Inquiries: 10% of Credit Score ,[object Object]
Inquiries: 10% of Credit Score ,[object Object],[object Object]
Inquiries: 10% of Credit Score ,[object Object],[object Object],[object Object]
Inquiries: 10% of Credit Score ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Inquiries: 10% of Credit Score ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Overview of  Good  Credit ,[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],Overview of   Challenged   Credit
Overview of  Alternative  Credit ,[object Object],[object Object],[object Object],[object Object],[object Object]
CREDIT SCORE! Now you Know!
Wellness Credit - Our Program ,[object Object],[object Object],[object Object],[object Object],[object Object]
How We Work ,[object Object],[object Object],[object Object],[object Object]
www.myWellnessCredit.com
Questions & Answers
[object Object],[object Object],[object Object],Copyright 2009 Wellness Credit

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Credit Score Information

  • 2.  
  • 3.  
  • 4.
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.
  • 10. CREDIT SCORE! Consumer Default: What are the Odds?
  • 11. Odds on Consumers: 90 Days Late Score Odds Above 800 1292 to 1 760 to 799 597 to 1 720 to 759 323 to 1 700 to 719 123 to 1 680 to 699 55 to 1
  • 12. Score Odds 660 to 679 38 to 1 620 to 659 26 to 1 500 to 600 8 to 1 Below 500 Odds on Consumers: 90 Days Late FORGET IT!
  • 13.  
  • 14.
  • 15.
  • 16.
  • 17. A Low Credit Score Can Cost You BIG! 30 yr fixed rates on a $200,000 loan: FICO Score APR Rate Monthly Payment Interest Paid 720-850 5.125% $1,089 $192,033 700-719 5.375% $1,120 $203,180 680-699 5.5% $1,136 $208,807 620-679 5.875% $1,183 $225,904 620- N/A N/A N/A
  • 18. Jack & Brad: $200,000/30yr. Fixed Only a 42 Point Difference! Jack Brad Salary Equal Equal Credit Score 721 679
  • 19. Jack & Brad : $250,000/30yr. Fixed Jack Brad Salary Equal Equal Credit Score 721 679 Yearly Savings $1,500 0
  • 20. Jack & Brad : $250,000/30yr. Fixed Jack Brad Salary Equal Equal Credit Score 721 679 Yearly Savings $1,500 0 Interest Saved over 30 Years $33,871 0
  • 21. CREDIT SCORE! What are the determining factors?
  • 22.
  • 23. 1. Payment History… 35% of Credit Score
  • 24.
  • 25.
  • 26.
  • 27.
  • 28. CREDIT SCORE! How long do delinquencies stay?
  • 29.
  • 30. Revolving Debt Ratio 30% of Credit Score
  • 31.
  • 32.
  • 33.
  • 34.
  • 35. 15% of Credit Score Average Age of Credit File…
  • 36.
  • 37.
  • 38.
  • 39. 10% of Credit Score
  • 40.
  • 41.
  • 42.
  • 43.
  • 44.
  • 45. Inquiries … 10% of Credit Score
  • 46.
  • 47.
  • 48.
  • 49.
  • 50.
  • 51.
  • 52.
  • 53.
  • 54.
  • 55. CREDIT SCORE! Now you Know!
  • 56.
  • 57.
  • 60.