Why Your Financial History Matters

This month, we are focusing on building a strong financial reputation. At the core of that reputation is your credit and you need to know how it works, why it matters, and how to make it work for you.

Credit reports may seem complex, but they are essentially a report card of your history as a borrower. Lenders use this data to decide whether to offer you credit and what interest rate you’ll pay. However, your financial reputation extends beyond bank loans. Landlords, utility providers, and even potential employers may check your credit and base their decisions on what your says about you.

Because these records impact so many areas of your life, keeping your credit healthy is vital. To do that, you first need to understand the mechanics behind the numbers.

Click here for a short explainer on what builds your credit report and how it is used.