Explaining Credit Scores to Clients With One Simple Chart
But I’ve never had anything repossessed!
How many times have you had to explain to a frustrated client how credit bureaus rank credit scores and that it isn’t always about whether or not something was repossessed or foreclosed upon, that sometimes it’s more about how many times you pay late and how late you pay, determining the amount of risk a lender takes when loaning money? Don’t take for granted that it’s common sense to you, some people have never considered their credit before!
It can be heartbreaking for someone who thought they were in the clear or for those who have just been declined for a loan. Perhaps if they learned from your blog prior to their application process in a visual way how credit scores work, they would understand more thoroughly (not everyone learns from being told out loud or via email, sometimes it takes tools like infographics). It might be helpful to post the following chart on your own blog and teach your consumers how credit works and what local options people have for each credit level.
Credit scores chart
click the image to enlarge, courtesy of SpendOnLife.com
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This article published on Tuesday, January 26th, 2010 at 12:02 am | Contact the editor
Topics: Economy
About this Columnist (Full Profile)
AGBeat Editor-in-Chief: Lani, named one of Real Estate’s 100 Most Influential, as well as 12 Most Influential Women in Real Estate, is a business writer hailing from the great state of Texas in the city of Austin. As a digital native, Lani is immersed not only in advanced technologies and new media, but is also a stats nerd often burried in piles of reports. Lani is a proven leader, thoughtful speaker, and vested partner at AGBeat.
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Explaining Credit Scores to Clients With One Simple Chart: But I’ve never had anything repossessed!
How many times… http://bit.ly/5h1g1v
Explaining Credit Scores to Clients With One Simple Chart: But I’ve never had anything repossessed!
How many times… http://bit.ly/5h1g1v
Share with your clients, cool info graphics Explaining Credit Scores to Clients With One Simple Chart http://bit.ly/6m8ocG
@agentgenius Explaining Credit Scores to Clients With One Simple Chart http://bit.ly/6m8ocG
Ever wonder how a late payment affects your credit score? Check out this chart to find out. http://bit.ly/dlzeOs
RT @agentgenius Share with your clients, cool info graphics Explaining Credit Scores to Clients With One Simple Chart http://bit.ly/6m8ocG
RT @PattyOBrian: RT @agentgenius Share with your clients, cool info graphics Explaining Credit Scores to Clients With One Simple Chart http://bit.ly/6m8ocG
Explaining Credit Scores to Clients With One Simple Chart http://sty.im/FG8E0w
explaining credit to consumers in a handy simplified graphic: http://bit.ly/mM4toD [great to use on your blog or FB page]