Credit History Your Financial Reputation. What is credit? Credit is a promise.

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Presentation transcript:

Credit History Your Financial Reputation

What is credit? Credit is a promise

Why is Credit History Important? A credit history shows your financial reputation.

How to establish credit history Apply for a secured credit card Secure a loan with a CD Obtain a retail credit card Authorized user on parents’ account Make monthly payments on an item in your name

How do I check my credit history (report)? Check at least once a year Major companies that keep track:  Equifax Credit Information Services  Experian  Trans Union ex.jsp ex.jsp

How to maintain a good credit history? Only apply for one card at a time Pay on time Pay more than the minimum Protect your identity Don’t spend more than you make