Learn about Credit

Do you wish you could get some credit? Well, we can’t convince your friends to give you credit for that great idea you had last week, but we have some tips and resources that can help you understand your financial credit and what you can do to build it! The resources below cover what credit is, credit scores, credit reports and how credit cards play into the equation. If you have questions, let us know! We’re here to help.

Financial Well-Being Score

Before we jump into all the nitty-gritty details of credit, take a minute to evaluate your current financial well-being. How do you feel about your current financial situation and your plans for the future? This questionnaire from the Consumer Financial Protection Bureau (CFPB) will help you score your well-being and compare your score to the US average.

What Credit is and How to Use it Properly

Before you can get credit, you need to understand what credit is, how it works and how to use it properly. This article from the Federal Trade Commission (FTC) gives you a good overview of the basics.

Building Credit

If you want a comprehensive resource about credit and how to build it, this article from Experian is it. Find out what credit is, how to build a credit history and how it all translates into credit scores and credit reports.

How to Build Credit without a Credit Card

Need to build credit but don’t want a credit card? You can build your credit without one using tactics like getting credit for paying rent and getting a loan made specifically to help with building credit. Also, you can use a secured credit card to build credit without the risk of going into debt. Want details? This U.S. News article has them.

What a Credit Score is and How it’s Determined

If you’ve wondered what a credit score actually means, we have the answer! Credit scores measure how risky it is for a creditor to lend to you, whether that means issuing you a credit card or accepting your car loan or mortgage application. Curious about what is considered when calculating that score? The Federal Trade Commission (FTC) gives you the 411 in this article.

How to Improve Your Credit Score

Want to know how to bump your credit score up a few notches? This infographic highlights some actions you can take. For the full infographic, click on the image below. For more information about each action step (and about credit scores in general), check out this Federal Trade Commission (FTC) article.

Difference between a Credit Score and Credit Report

Do you know the difference between your credit score and your credit report? Your credit report is a document that contains information about your past and current credit activity. That information, along with other factors, determine your credit score. For more details, read this article from the Consumer Financial Protection Bureau (CFPB).

How to Get Your Credit Report

Most creditors look over your credit report when deciding if they should offer you credit and what the terms should be, so it’s a good idea for you to know what’s on it! Side benefit: Reviewing your report helps you catch and report errors so they can be corrected. Find out how to get a copy of your credit reports for free in this Consumer Financial Protection Bureau (CFPB) article.

Errors to Look for on your Credit Report

Received your free annual credit report but aren’t quite sure what to do with it? Use this infographic to guide your review. Bottom line: Look for errors and, if you find any, report them. For the full-size infographic, click the image below. The Consumer Financial Protection Bureau (CFPB) has more information about each error in this article. They also provide links and resources to help report errors.

Items to Consider when Choosing a Credit Card

So, you’ve decided a credit card is the right option for you, and now you just have to pick one! Simple, right? Wrong. Few things are more overwhelming than looking at all the different credit cards that are available. Reward structures, credit requirements and fees could make anyone’s head spin. This infographic can help you focus your research and pick the card that is best for you. For the full-size infographic, click the image below.

Getting Out of Debt and Repairing Credit

Maybe you’re already very familiar with credit, but not in a good way. Don’t worry – you’re not alone, and you can recover! Even if you’ve made some credit mistakes, you can take steps to get your credit back on track, and this page from the Federal Trade Commission (FTC) has links to a lot of great advice for how to get started.

Settling Credit Card Debt

If you’re dealing with credit card debt specifically and feeling really overwhelmed, it might seem really appealing to work with a company that claims it can eliminate that debt for you for very little cost. Before you engage with anyone, read this Federal Trade Commission (FTC) article about debt settlement scams and the variety of debt settlement options available to you.