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Receiving credit is a privilege, not a right. Credit does
not increase your income, but increases your debt. Use credit wisely! The
manner in which you've made your payments in the past is very important. A
lender will rely on the amount of credit an applicant has received in the
past and the manner in which the applicant has repaid the credit.
You can develop a credit file with:
- Retail store credit cards
- Major credit cards
- Personal loans
Important points!
- Make your payments promptly.
- If you are going to be late with your payment, call your creditor.
- Be honest on credit applications.
What is a consumer credit report?
The typical consumer credit report includes four types of information:
- Identifying information: your name (including generation, such as Sr.,
Jr., III), nicknames, current and previous addresses, Social Security
number, year of birth, current and previous employers and, if applicable,
your spouse's name.
- Credit Information: The accounts you have with banks, retailers,
credit card issuers and other lenders.
- Public Record Information: state and county court records related to
bankruptcies, tax liens or monetary judgments.
- Inquiries: If a credit grantor or potential employer has obtained a
copy of your credit report for any reason.
How to get a copy of your credit report?
You may obtain a copy of your credit report with a written request to the
credit bureau, once a year, free of charge. You will need to provide your
full name, current and previous addresses, spouse's name (if applicable),
Social Security number, and year of your birth. |
