Unless they are trying to get a loan to buy a new car or home, credit scores aren’t something that most people think about regularly.

And when asked what factors influence one’s personal credit rating, many people would be hard-pressed to give a concrete answer.

Knowing this, WomenSource officials have planned a special program for Thursday from 6 p.m. until 7:30 p.m. at the Senior Life Center, located at 430 Prior St. in Gainesville.

WomenSource is a local nonprofit organization that is dedicated to connecting women with the “professional sources for practical help by providing educational programs, facilitating peer-support groups and counseling.”

“This is the fourth program in a six-month series, The Road to Financial Health and Stability, which we (are providing) free of charge in partnership with Consumer Credit Counseling Service,” said Lindsay Wells, WomenSource program coordinator.

“At each program in this series, participants get practical advice for managing their finances. At this week’s program, participants will learn how their credit score is created and what can affect it, as well as how they can work to improve their credit score.”

Credit scores are based on a scale of 300 to 850, with 850 being the best. It can be used to not only determine eligibility for financing, but also the amount of said credit.

Scores are generally calculated by three main agencies: Experian, TransUnion and Equifax. Various factors such as debt and payment history can affect a person’ credit score — negatively or positively.

Although the WomenSource programs are geared more toward a female audience, men also are welcome to attend, Wells says.
“We feel that financial literacy for women is an important topic,” Wells said.

“Especially during these uncertain economic times when many families have lost income sources and are living on less.”