Credit scores can seem like vague and intangible concepts at times. It’s hard to discern what criteria is used to determine that final figure and you could be left in the dark with a bad credit score and not even know it. The Credit Tracker Template was designed to shed some light on the subject. You can use this free template to keep track of any line of credit to better help determine your credit score and use that information to try and improve that number all year long. By entering simple facts, such as the limit of your credit line, payments, and interest, you will begin to determine where you stand when it comes to your credit.
Using the Credit Tracker Template
Downloading the free Credit Tracker Template is as simple as clicking the link at the bottom of this template.
The next step is to enter the name of your lender and your information in the indicated areas at the top of the Credit Template page. Next, choose your largest line of credit and enter the limit and the “Day in Year” the company considers to be their annual cycle (usually 365 days).
The calculator will take the information you have listed and give you the total payments, disbursements, total interest accrued, total interest paid, and the amount you currently owe.
In the table below, you will also find each of your payments displayed below. In the graph to the right, you will see the amount you owe versus your payments.
Keeping track of this information is crucial for understanding your current credit score and how quickly interest can accrue if you don’t make the proper payments as well.
You can use the information you gain from using this document to create your own credit report and stay informed on the status of your largest line of credit.
Download: Credit Tracker
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