Credit is the ability of a customer to obtain goods or services before payment based on the trust that payment will be made in the future. Credit can be a very useful part of your financial aid toolkit if you develop good habit.
- Use your own money to make purchases
- Funds taken directly from your account
- Used in the same places as a credit card
- If bank is notified within two days $50, after two days $500
- After 60 days responsible for all charges
Your Credit Score:
Your credit history will affect you when you:
- Buy a house
- Purchase/lease a car
- Rent an apartment
- Apply for any type of loan
- Even when applying for a job!
Know what's in your credit history!
Retrieve your FREE credit report
once per year from all three agencies (Experian, TransUnion, Equifax)
Find out how to get your credit score here.
Some Credit Safety Tips:
- Keep lenders informed about changes
- Keep copies of all documents in one place
- Open all mail
- Repay your loans on time to reduce or eliminate interest
- Build good credit with timely payments
- Always ask for help
- This is a government website that helps you, manage and use your money wisely, use credit and loans carefully, protect your personal information and protect your money from people who try to take it