Information About Credit Cards and Your Credit Score


Credit Cards and Your Credit Score

Credit cards are not free money – they actually are loans, and you will be required to repay the money as soon as you make that first purchase. That monthly payment can quickly get out of control with interest and other fees.

Learn how to obtain, wisely use, and control your credit. Knowing how to use credit correctly will last you a lifetime!

Choosing a credit card

If you decide to get a credit card, shop first. That's right, shop! Credit card offers might all look the same, but before you sign on the dotted line, do a little investigating to make sure you're getting the best card for you. Choosing a credit card isn't easy, but you can find some really great information to get you started from the Federal Reserve Bank: Choosing a Credit Card.

Your credit history

Your credit history, often presented as a credit report, is a collection of information about you and your credit history and can have a major impact on your life.
Even if you do not have your own credit card or a loan, you may already have a credit history. AnnualCreditReport.com helps you fight identity theft by monitoring and reviewing your credit report. The site allows you to request a free credit report once each year from each of the national credit reporting agencies. 

Other resources

  • The Federal Trade Commission protects consumers and provides great information on everything from preventing fraud to unfair business practices.
  • At myFICO, you can find out more about credit scores (and how they affect you), your credit and identity theft, and many other related topics.
  • Credit Score.net provides a credit repair guide and other information regarding identity theft, credit reports and scores, bankruptcy, teen financial education, money management, and how to establish good credit.