Building Credit and Keeping Yours Healthy

Over the past 6 weeks America Saves has featured blogs on the importance of building and maintaining good credit. 

You probably know your credit score can affect the interest rate you get on a mortgage or car loan. But did you know it could also affect your employment options? Building good credit takes work but it can be done. Check out this video from BetterMoneyHabits.com on building credit and keeping yours healthy. The video features five things you can do to build a healthy credit score as well as how to avoid some pitfalls that can hurt your score.

 

Want to learn more about credit? Check out these articles:

Things for Watch Out for When Looking at Your Credit Report

Everyone knows that credit scores are important. They determine what interest rates you’ll be charged on loans and credit cards, and for that reason a higher credit score could save you hundreds or even thousands of dollars in interest charges. But how do you really know what is going on “behind the scenes” with your credit score? READ MORE

The 5 Pillars of Credit: What Goes Into Your Credit Score

Being a savvy consumer, you know that having good credit is important for getting mortgages, car loans, credit cards, and other types of credit. But do you know how your credit score is calculated? Here are the five factors that go into calculating and changing your credit score. READ MORE

Credit Scores and Credit Reports – Why Does it Matter?

It is important to know the definitions of credit score and credit report.  A credit score is a numerical representation of an individual’s credit worthiness.  Your credit score can be different depending on how it is calculated and by whom, but one of the most popular scores is a FICO score.  Your credit report is a report of all your credit history, payment history, loans, credit cards, and other financial and personal information. READ MORE

6 Ways to Jump-start Your Credit Score

It's a common financial predicament for most 20-somethings: You need credit to get credit. But even if you're older and have been through some credit-wrecking havoc in your life, you could face the same issue.

"The only way to build a credit history is to use credit," explains Maxine Sweet, vice president of public education at the credit bureau Experian®. Check out these six easy steps to help get you started. READ MORE

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  • Written by Tammy G. Bruzon | January 16, 2017

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Saver Stories View all »

Taking Back Control Over Finances

Written by Virginia Saves | August 5, 2015

After becoming a Virginia Saver and getting help from BankOn classes and coaching, Nadine Bialo took back control over her financial affairs.

Read more...

Taking Steps Toward Financial Fitness

Written by Tammy G. Bruzon | November 7, 2014

Nicky Vasquez learned about Virginia Saves when she attended her first class with Bank On Virginia Beach. The instructor shared how important it was to have a written savings goal, and the entire class joined Virginia Saves as the first step toward financial fitness.

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Getting Out of Debt

Written by Katie Bryan | October 28, 2013

In 2004, Tonya Shelton was facing financial ruin. Barely making more than minimum wage and having lost her home to an unexpected family crisis, Shelton and her family were forced to live in a rundown hotel.

Read more...

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