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What is Credit?

When looking for a credit card, one of the most important factors, if not the most important factor, is your credit score.  Whenever you hear someone speaking about a person's "credit," this is what they're referring to - it is a score derived from a consumer's history of debt and purchases.

What is a credit score?

A credit score is a three digit number issued by the credit bureaus to determine the credit worthiness of an individual.  This is useful because the credit score provides different banks and credit card issuers with objective insight into the likelihood that a credit card holder pays back their credit card debt.  Credit Unions will derive this number from your payment history, whether it be from mortgages, prepaid credit cards, or even general credit cards themselves.

Why should I worry about my credit score?

Users should worry about...

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