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It's Important to Know What Credit Reports Are--and How They Work
Citi Cards ConsumerFeature
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CREDIT CARDS--IF USED WISELY--ARE AN IMPORTANT WAY FOR COLLEGE STUDENTS TO ESTABLISH A CREDIT HISTORY--WHICH THEY'LL NEED AFTER GRADUATION TO GET AN APARTMENT, A CAR--EVEN A JOB. PART OF BUILDING A STRONG CREDIT HISTORY IS KNOWING WHAT CREDIT REPORTS ARE--AND HOW THEY WORK. ACCORDING TO CITI CARDS, YOUR CREDIT REPORT INCLUDES INFORMATION ON WHO GAVE YOU CREDIT, AND WHEN; HOW MUCH YOU PAID; HOW OFTEN; AND IF YOU PAID ON TIME. CREDIT BUREAUS COLLECT THIS INFORMATION--AND ASSIGN YOU A CREDIT SCORE, BASED ON YOUR PAYMENT BEHAVIOR. THE HIGHER YOUR CREDIT SCORE, THE LESS RISK YOU PRESENT TO PROSPECTIVE LENDERS OR EMPLOYERS. BECAUSE YOUR CREDIT HISTORY REFLECTS YOUR PAYMENT BEHAVIOR, YOU CONTROL WHAT'S IN IT. SO, ALWAYS MAKE YOUR PAYMENTS ON TIME--EVERY TIME; JUST ONE OR TWO MISSED OR LATE PAYMENTS CAN AFFECT YOUR CREDIT SCORE. ALSO, REVIEW YOUR CREDIT REPORT ANNUALLY, AT EACH OF THE THREE MAJOR CREDIT BUREAUS, TO CHECK FOR INACCURACIES. FOR MORE ON BUILDING A GOOD CREDIT HISTORY, STUDENTS CAN TAKE THE "CREDIT-ED CHALLENGE"--AT W-W-W-DOT-"STUDENTS"-DOT-"USE-CREDIT-WISELY"-DOT-COM.
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