Money 

Matters

Skip to main content
Staff Resources
Home
HOME
SPENDING PLAN
SAVE & INVEST
CREDIT & DEBT
PLANNING FOR COLLEGE
ENTREPRENEURSHIP
GAMES & TOOLS
Skip navigation links
Credit Basics
Credit Histories
Credit Reports and Scores
Credit Cards
Credit Card Basics
Credit Card Traps
Credit Reports and Scores

Credit Reports and Scores 
Credit & Debt 

Lenders use your credit reports and credit scores — which are typically between 300 and 850 — as important factors when deciding whether to lend to you and what interest rate to charge you.

The fewer problems there are in your credit report, like payments more than 60 days late or large credit balances, the higher your credit score will be. And, generally, the higher your score, the more likely you’ll qualify for credit and a better interest rate.

And lenders aren’t the only ones who check your credit report and credit score. So do potential employers, potential landlords, cell-phone providers, insurance companies, and others.


So what can you do to make a good impression?

 

Previous Section    Next Section

 

 Using Credit Scores

Lenders like to use credit scores because they provide a quick analysis of how responsible you’ve been with credit. Sometimes they require a certain score to consider your application.