Understanding Credit Reports and your Scores
Each credit reporting company – Equifax, Experian and TransUnion – is required to provide a free copy of your credit report, at your request, once every 12 months.
Late payments are the first signs of impending credit problems. When you pay late, it’s harder to get credit.
Know how you are going to repay a debt – whether you use a credit card or a loan – and stick to your plan.
Understanding your Credit History
From the Federal Trade Commission:
“A good credit rating is very important. Businesses inspect your credit history when they evaluate your applications for credit, insurance, employment, and even leases. They can use it when they choose to give or deny you credit or insurance, provided you receive fair and equal treatment. Sometimes, things happen that can cause credit problems: a temporary loss of income, an illness, even a computer error. Solving credit problems may take time and patience, but it doesn’t have to be an ordeal.”
Classroom resources from our national partners: