Your credit history affects the fees and interest rates you will be expected to pay when you take out a private student loan, auto loan or mortgage. Landlords may check your credit when you rent an apartment, and 30% of employers now run credit checks during the hiring process!
A credit report is a record of your credit history. It includes personal information, 信用账户, 托收票据, public records and a list of credit inquiries. 信贷 bureaus collect, organize and store this information in your credit report. That information is then made available to lenders, landlords and other parties that you authorize to access your report.
The three largest credit bureaus are Experian, TransUnion and Equifax. You are eligible to access your credit report for free from each of these institutions once per year.
To access your credit report, visit annualcreditreport.com.
Accessing your credit report will not impact your credit score.
As you review your credit report, you should look for any incorrect information. Errors on your report may mean your identity has been stolen. College students are often targeted for 身份盗窃 because they have limited credit history and rarely review their credit reports. If you see an error on your report, you should contact the reporting agency to dispute the information. Check out our page on 身份盗窃.
看Your credit score is a single number which represents your credit worthiness. It is not included on your credit report. While there are multiple versions of the credit score, the most common is the FICO credit score.
FICO scores range from 300 to 850 and are determined based on information from your credit report. High scores are better and indicate to lenders that you are likely to make your payments on time and in full.
Many banks and credit card companies will provide credit scores to their members for free.
看信贷 cards are one of the most widely used forms of credit. A credit card allows you to borrow money in real time, up to a predetermined limit. Responsible credit card use can be a great way to build credit history and boost your score.
While there are many positives to credit cards, they can also cause problems if you are not well informed. Your credit card limit is not additional income. Every time you pay for something on a card, you are responsible for paying it back. If you do not pay off your balance each month, you will be responsible for that value PLUS interest.
看Beginning Balance: Financial Literacy (信用评分)
小贴士Start your 信贷 Search with Ease ——NerdWallet
Intro to 信用卡: A College Student’s Guide – 信用卡 Explained
信贷 Card Payoff Calculator ——益百利
These recommendations are being provided for informational purposes only; they do not constitute an endorsement or approval by the University of Missouri-Kansas City. The University of Missouri-Kansas City bears no responsibility for the accuracy, legality or content of the resources listed.
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