Introduction to Credit

Course details

Your credit score might just look like a number—but it’s a number that defines you. Your score is checked when you make major purchases, apply for loans, and even sometimes when you start a new job. In this course, you can learn how to pull yourself out of bad credit, how to get started if you have no credit, and how to keep your credit score high. You can explore the types of credit as well as the seven factors affecting your score—in both a positive and negative direction. Remember: Good credit is a marathon, not a sprint. The sooner you start, the sooner you’ll be able to take advantage of all the opportunities that good credit has to offer.

Topics include:
What is credit?
Why credit equals leverage
Three types of credit
Buying a home or car with credit
Factors affecting your credit score
Boosting your credit score
Using credit effectively

Concepts

0. Introduction

01 - Introduction to credit and why it can make you successful
02 - Financial disclaimer

1. A Two-Minute History Lesson on Credit

03 - Determining how likely you are to pay back your debts

2. Why Credit Equals Leverage

04 - An example of how credit can build the economy
05 - Net profit and the law of infinite returns
06 - The formula for return on investment and how it works

3. Three Types of Credit

07 - Revolving credit and its functionality
08 - Ongoing credit and how it contributes to your financial life
09 - Using installment loans and acting on its payment schedule
10 - Raising awareness on what debit cards actually are

4. Why Credit Is Important

11 - Buying or renting a home with your credit
12 - How credit can impact your way to stay connected with others
13 - Having good credit as it pertains to buying a car and your future

5. Seven Factors That Affect Your Credit Score

14 - The importance of your payment history
15 - Amounts owed and how that factors into your credit
16 - Making small purchases and paying them off completely and immediately
17 - Length of credit history and new credit
18 - Types of credit used and how they factor into your spending
19 - Tax liens and bankruptcy and how to avoid them

6. How to Boost Your Credit Score

20 - Getting a secured credit card and spending responsibly
21 - Why growing your credit is important for making larger purchases

Conclusion

22 - Finding a mentor, coach, and underwriter to help you through your credit
23 - Actionable steps to staying on top of your credit score
24 - Educate yourself on how you can use credit most effectively