It's a real credit to you

There is much talk about helping people out of poverty through one program or another. One hurdle everyone faces, especially the poor, is the credit score system. A good score helps in lowering borrowing costs for large items like furniture, a car, major appliances and a mortgage. A bad credit score means (a) that sometimes businesses won't lend at all, or (b) a borrower cannot get favorable terms on their loans - that is, everything costs more for those with bad credit.

So a key question is this: What goes into the credit scoring system that banks and businesses use to judge one's creditworthiness?

This story explains the five components that make up the FICO credit scoring system and should become familiar to everyone from the poor, to college students, to the middle class.

Believe it or not, bad credit scores can prevent you from getting a job.

http://www.creditcards.com/credit-card-news/bad-credit-employment-checks-1265.php?aid=7704c6a5