Specific Purpose: I will inform my audience about a credit score.
Organizational Pattern: Topical
Intended Audience: COMM 101 Class
I. Attention-Getting Device: How many of you know your credit score? I want you to think of your credit score like your grade on your report card.
II. Orientation Phase:
A. Point: I will inform my audience about credit scores.
B. Adaptation: Credit score will affect everyone’s financial life.
C. Credibility: With twenty-two (22) years in the mortgage, real estate and banking business I have a lot of experience and knowledge with credit scores.
D. Enumerated Preview: I will inform my audience the definition of a credit score, describe the three (3) credit reporting agencies and how a credit score is calculated.
I. So what is the definition of a credit score?
A. According to the Dictionary of Financial Terms, published by Lightbulb Press Inc., the definition of, “a credit score is a number calculated based on information in your credit report that lenders use to assess the credit risk you pose and the interest rate they will offer you if they agree to lend you money” (Morris 2000).
1. Simply put a credit score is a three (3) digit number to which is the key to your financial life.
2. Credit score ranges from 300 to 850.
B. Credit score is often used as an interchangeable word for “FICO” score.
1. FICO is an acronym for FAIR ISSACS and COMPANY.
2. The FICO score was founded in 1956.
a. Bill Fair and Earl Isaacs invented the system of credit scores.
b. Hence the name “FICO” score.
C. Let’s look at a credit score of 750 for example.
1. Based on the range of 300 to 850 a score of 750 would be an excellent credit score....