Tools and education for better credit
Learn how to make credit work for you. Reduce debt, manage your money, and reach financial milestones with credit advice from Mint.
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Keep tabs on your credit score and learn key strategies for managing your credit with tips and tools from Mint.
There can be a small gratifying feeling of swiping your credit card to pay for something without really thinking about how it will affect your finances until way later. Especially when you first get a credit card and you’re thrown...
Credit is a measure of how trustworthy of a borrower lenders are likely to find you. It's based on your financial history, like how consistently you've made payments on loans or repaid credit card balances. The more reliable of a borrower you are, the higher your credit score, and the more likely you are to be approved for a loan in the future, and the better the interest rate you're likely to get.
There are two different credit scores, FICO and VantageScore. The way they measure credit varies slightly, but they both range between 300 and 850. A score over 650 is generally considered good, and above 750 great.
Building credit can take time. The best way to build credit is to borrow money reliably, and stay on top of financial obligations like rent and utilities bills. If your credit takes a hit due to a missed loan payment or other financial hurdle, it's a good idea to take time to rebuild credit before seeking a loan in the future.
Credit bureaus are large companies that maintain information on consumer and business credit. They are also referred to as credit reporting agencies. These companies provide information to lenders about potential borrowers. If you apply for a mortgage through your local bank, they may request information from a credit bureau, like your credit score, to help determine the interest rate on your loan.