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Financial Education Series: How Credit Works

These Credit Education posts will get you started down the path of pristine credit, superior financing terms, and all the glamour of a high FICO!

Factors of a credit score

Financial Education Series: How Credit Works #1 – Where Does a Credit Score Come From?

By Michael Swaleh | Jan 31, 2015

Daddy, where do Credit Scores Come From?   Throughout my career in Finance, I have reviewed thousands of Credit Reports.  Literally, thousands!  One thing that has always stood out to me is how little the average consumer truly understands “credit”, what is actually on a “credit report”, how “credit scores” are determined, or really how…

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Credit Score Scale

Financial Education Series: How Credit Works #2 – Tips for Improving Your Credit Score

By Michael Swaleh | May 20, 2015

How Credit Works Tips for Improving Your Credit Score In our last “How Credit Works” post, we briefly touched on what goes into to calculating your FICO credit score.  While that is all great information to familiarize yourself with, it’s more important to be aware of what YOU can do to improve your score if…

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How Does a Credit Score Impact You

Financial Education Series: How Credit Works #3 – How Does A Good or Bad Credit Score Impact Your Life?

By Michael Swaleh | Jun 12, 2015

How Credit Works Cause and Effect: How Does A Good or Bad Credit Score Impact Your Life? In our last “How Credit Works” post, we discussed some important actions you can take to improve and maintain your credit score.  Today, let’s take a brief delve into the “Why?” What’s the point of focusing all of…

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Antique Credit Report Bulb
This page on Credit Education will enlighten you on how credit works

The three articles above will established a good baseline understanding of the way the credit system works in this country.  Credit education is important.  Oftentimes, there are small and counterintuitive actions you can take to better your credit profile.  The best course of action is not always obvious. Our financial education series here at VAFinances is all about setting you up to succeed.  In this series, you'll learn how credit works.  In the first credit education article you'll learn about what factors make up your credit score.  In the second credit education article you'll learn some tips for improving your FICO (Fair Isaac Corporation, effectively, your "credit score").  Finally, in the third and final credit education article you'll learn the important role your credit score plays in your real life, and why it matters so darn much.  

 

Hope you enjoy learning a little bit today, and walk away with a greater understanding of the credit system.  I know this type of information can be a bit dry, so I try to add some personality to make it easier to follow along.

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