The Importance of Credit
As we start out in life we do not pay much attention to credit and its overarching effect on our lives. But credit affects our lives, present and future, in many ways. Good credit begins with paying bills on time, every time. Having good credit means lower interest rates on credit cards and loans. And lower interest rates translate into smaller payments. This is important when buying a car or house.
Did you know some employers check your credit as part of the hiring process? Imagine not getting your dream job because you made some poor choices with your finances.
There are ways you can build and protect your credit. First, take advantage of your free credit report. Everyone gets one free credit report from each of the three major reporting bureaus each year. Just go to annualcreditreport.com. You may get all three reports at one time or spread them out throughout the year. Second, pay all bills on time every time. Never skip a payment or pay a bill late. Third, use credit wisely. Do not carry more than two credit cards. Credit cards should be used sparingly. Do not charge more than you can pay off within one to two months. Fourth, visit the following sites to learn more about protecting yourself from identity theft and wise ways to use credit:
Did you know some employers check your credit as part of the hiring process? Imagine not getting your dream job because you made some poor choices with your finances.
There are ways you can build and protect your credit. First, take advantage of your free credit report. Everyone gets one free credit report from each of the three major reporting bureaus each year. Just go to annualcreditreport.com. You may get all three reports at one time or spread them out throughout the year. Second, pay all bills on time every time. Never skip a payment or pay a bill late. Third, use credit wisely. Do not carry more than two credit cards. Credit cards should be used sparingly. Do not charge more than you can pay off within one to two months. Fourth, visit the following sites to learn more about protecting yourself from identity theft and wise ways to use credit:
- Getting Credit - What is credit?
- AnnualCreditReport.com - Request your free credit reports from Equifax, TransUnion, and Experian
- Federal Trade Commission - Your Rights: Credit Reporting
- United States Department of Justice - Identity Theft and Identity Fraud
