When You Use Credit Well and Responsibly
- You can earn a higher credit score.
- Adults with higher credit scores are more likely to get more
financial services at cheaper rates over time.
- You develop peace of mind.
Five Types of Credit
- Service credit (telephone, electricity, water)
- Credit card (Visa®, MasterCard®, store credit cards)
- Installment credit
- Loans (student, mortgages, auto, personal)
- Line of credit
Your Credit Score
Your credit score is a number that shows how well you use credit. The higher the score, the better.
What Makes Up a Credit Score
Your credit score consists of: your payment history, the amounts you owe, the length of credit, new credit accounts and types of credit in use.
Review Your Credit Report and Credit Score
Request a free copy of your credit report. Go online at www.AnnualCreditReport.com,
or call toll-free 1-877-322-8228.