| |
When it comes to extending credit, whether you're buying shoes, a vehicle, or a home, your credit approval hinges on good credit health. This section will show some ways to establish credit for the first time, how you can avoid credit issues that can exist without your knowledge, and how you maintain good credit through challenging life-changing situations. |
Many people think that credit reports and credit scores are one and the same. In fact, a credit score is derived from the information in credit reports. Your credit score determines your credit standing. |
 |
|
When you're new to the world of credit, establishing it for the first time can be frustrating. Most creditors want to see your credit history before they extend you credit. So, what if you're just starting out? How do you obtain that first credit card or car loan? While there's no foolproof solution to obtaining credit for the first time, there is a logical sequence of events you can follow to establish first-time credit. |
|
|
It's important to understand the impact of credit as you go through life's changes, from adolescence to retirement. As you contemplate entering a new phase in your life, plan for it as best you can in order to minimize any surprises. |
|
|
|
|
Whether you've experienced it firsthand or just read about it, there's no doubt that your identity is worth protecting. Remember the following: |
Keep a record of your credit card account numbers and other critical account numbers in a safe and private place.
Shred or otherwise destroy all documents containing personal or account information.
Follow up with all credit reporting agencies when you suspect your identity may have been stolen.
File a police report in cases involving identity theft. |
Carry more credit cards than necessary in your purse or wallet.
Carry your social insurance card or number in your purse or wallet.
Store PIN numbers or passwords near the actual account numbers.
|
| |
|
|
