Lesson 7: Understanding Credit - Template
Credit Report Analysis Worksheet
Credit Report Access
Credit Reference Agency | Date Accessed | Method of Access | Report Saved? |
Experian | â–¡ Yes â–¡ No | ||
Equifax | â–¡ Yes â–¡ No | ||
TransUnion | â–¡ Yes â–¡ No |
Credit Score Summary
Agency | Your Score | Score Range | Rating | Previous Score | Change |
Experian | 0-999 | ||||
Equifax | 0-700 | ||||
TransUnion | 0-710 |
Credit Report Review
Element to Check | Experian | Equifax | TransUnion | Action Needed |
Personal details correct | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | |
Electoral roll registration | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | |
Current accounts listed | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | |
Closed accounts removed | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | |
Payment history accurate | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | |
No unrecognized accounts | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | |
Financial associations correct | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | |
Credit searches accurate | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No | â–¡ Yes â–¡ No |
Credit Improvement Plan
Current Credit Issues
Issue | Impact on Score | Action Plan | Target Date |
High/Medium/Low | |||
High/Medium/Low | |||
High/Medium/Low |
Credit Score Improvement Goals
Timeframe | Current Score | Target Score | Key Actions |
3 months | |||
6 months | |||
12 months |
Credit Card Inventory
Current Credit Cards
Card Name | Credit Limit | Current Balance | Interest Rate | Annual Fee | Rewards/Benefits | Purpose |
£ | £ | % | £ | |||
£ | £ | % | £ | |||
£ | £ | % | £ | |||
TOTALS | £ | £ | Avg: % | £ |
Overall Credit Utilization: _____% (Total Balance ÷ Total Credit Limit × 100)
Credit Card Strategy
Card | Primary Use | Payment Strategy | Keep/Cancel/Replace |
â–¡ Full balanceâ–¡ Fixed amountâ–¡ Minimum | â–¡ Keepâ–¡ Cancelâ–¡ Replace | ||
â–¡ Full balanceâ–¡ Fixed amountâ–¡ Minimum | â–¡ Keepâ–¡ Cancelâ–¡ Replace | ||
â–¡ Full balanceâ–¡ Fixed amountâ–¡ Minimum | â–¡ Keepâ–¡ Cancelâ–¡ Replace |
New Credit Card Consideration
Need/Goal | Card Options | Annual Fee | Interest Rate | Benefits | Decision |
£ | % | ||||
£ | % |
Other Credit Products
Current Loans/Credit
Type | Lender | Original Amount | Current Balance | Interest Rate | Monthly Payment | End Date | Notes |
£ | £ | % | £ | ||||
£ | £ | % | £ | ||||
TOTALS | £ | £ | Avg: % | £ |
Overdraft Details
Bank Account | Overdraft Limit | Current Usage | Interest Rate | Fee Structure | Notes |
£ | £ | % | |||
£ | £ | % |
Credit Application Planning
Upcoming Credit Needs
Credit Need | Timeframe | Estimated Amount | Preferred Product | Preparation Steps |
£ | ||||
£ |
Application Strategy
- Spacing between applications: _____ months
- Order of applications: _______________________
- Pre-application preparation: _______________________
Identity Theft Protection Plan
Current Protection Measures
Measure | Implemented? | Notes |
Credit report monitoring | â–¡ Yes â–¡ No | |
Fraud alerts | â–¡ Yes â–¡ No | |
Credit freezes | â–¡ Yes â–¡ No | |
Strong unique passwords | â–¡ Yes â–¡ No | |
Two-factor authentication | â–¡ Yes â–¡ No | |
Secure mail handling | â–¡ Yes â–¡ No | |
Document shredding | â–¡ Yes â–¡ No |
Identity Theft Response Plan
If you suspect identity theft:
- Contact details for credit reference agencies:
- Experian: _______________________
- Equifax: _______________________
- TransUnion: _______________________
- Contact details for banks/card issuers:
- Action Fraud contact: _______________________
- Police reporting procedure: _______________________
Credit Monitoring Schedule
Task | Frequency | Next Due Date | Notes |
Check Experian report | |||
Check Equifax report | |||
Check TransUnion report | |||
Review credit card statements | |||
Check for unauthorized inquiries | |||
Update fraud alerts | |||
Reassess credit improvement plan |