|
Credit is the ability to borrow money or access goods or services with the understanding that you'll pay later. From Credit Cards to Auto Loans, and even a Home Mortgage, credit is an important part of your financial success.
Types of Credit
You want to have a great mix of revolving credit (credit cards), installment credit (car loans, mortgages, student loans), and open credit (cellphone and utility bills).
Credit Score
You want to have a great mix of revolving credit (credit cards), installment credit (car loans, mortgages, student loans), and open credit (cellphone and utility bills). to learn more about the components of a credit score, check out this video:
Things That Don't Affect Credit
Checking and savings account information, medical history and records, marital status, buying habits, income and asset information are not stored in credit reports and do not affect your credit.
No Credit?
Don't have a credit score?
The best way to build credit is to open a credit card, put a manageable amount on it and pay it off every month!
 Return to Financial Wellness Home
|