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About Your Credit History

By Eva Norlyk Smith, Ph.D.
May 22, 2009
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When you apply for a credit card, the credit card company uses your credit score and the information in your credit report to decide whether or not to approve your application. Your credit report contains information about your current debt load, your history of repaying past loans, and whether or not you have ever defaulted on payment of bills, credit cards, or any other kind of loan payment. Based on this information, lenders determine if you meet their criteria for an acceptable credit risk, and make their decision accordingly.

A high credit score and a good credit history will give you financial flexibility and can help lower your costs of living. If your credit score is lower, there are ways to improve it. The information on the next few pages will answer any questions you may have about your credit report and how to obtain a free copy of your report.




How long will I pay for my credit mistakes? - Even the smallest financial mistakes can have long-term credit consequences. Here's the life expectancy of seven common credit events

Will Bad Credit Really Cost You Your Dream Job? - Employers can consider a lot of things when deciding whether to hire you -- including your credit report. But if you're close to landing your dream job, will poor credit be the thing that stands in your way?

How to Rebuild Credit After Hardship - When people develop bad credit, a common reaction is to get off the credit horse entirely and stop using credit. But that's exactly what you don't want to do. To get out of hardship, you have to go through hardship. And to rebuild credit, you have to use it first.



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