Successful Savings and Your Credit History

April 24, 2012

By Katie Bryan, America Saves communications manager

April is Financial Literacy month and we want to make sure you understand the importance of your credit history and how this ties into successful saving. It is important for all Americans to have savings. Having a savings account allows you to pay for emergencies, gives you financial freedom, and can help you avoid credit problems that could hurt credit scores.

Having a strong credit history, reflected in good credit scores, allows you to qualify for lower interest rates and fees. This helps you to free up additional money to set aside for emergencies, retirement, and other smaller unexpected expenses.

The connection between successful savings and good credit plays an important role in your financial life. Not only is it essential for obvious things like qualifying for a loan or getting a credit card, but also for less obvious things like getting cellular telephone service, renting a car, and perhaps even getting a job.

Want to learn more about the importance of credit history and successful savings?

Download the Importance of Credit History and Successful Savings packet, which includes information on:

What are you waiting for?

Set a Goal.

Make a Plan.

Save Automatically.

 

Are you ready to take charge of your financial future?

America Saves is here to help. America Saves can help you develop your goals and take action. When you join as a saver, you’ll receive the following benefits: