National Credit Education Month


How fiscally responsible are you?  Do you know what your credit rating is?  Do you know how to wisely use credit cards?  If the answer to these questions are “I don’t know” then it might be time to find out.  March is “National Credit Education Month” and tailor made for those who want to manage their finances.


You are probably asking if there really needs to be a month dedicated to credit awareness.  Well, many lenders and banks believe so as your credit score is what they use to determine whether or not they will lend you funds to purchase a house, buy a car, or open a credit card.  However, March should not be the only time you should be financial responsible as you should always be thinking about building credit and keeping debt in check.

What is a good credit score you might ask?  There are many types of credit scores; however, FICO is one of the most well-known and they define a score of 800-850 as exceptional, 740-799 as very good, 670-739 as good, 580-669 as fair, and 300-579 as very poor.  Approximately 67% of Americans have a good FICO score.  The impact of these scores do affect the approval or denial of credit from lenders and/or the rates you can receive from lenders.

How are credit scores determined you may ask?  Well, there are several factors that make up your credit.  For instance, the amount of debt you carry, age of credit history, reports to collections agencies, late payments, number of hard inquiries for credit, and the number of accounts you might have.  So, what can you do to ensure your credit is in good standing, you can pay the balance of credit cards each month, establish a credit history, accurately report, make all payments on-time, keep requests to a minimum, and liquidate unused accounts.

So during this finance-friendly month, remember ignoring your credit score costs you; therefore, take control of it today!  Here are some resources to help you…

Bellevue University eCatalog

Facts From the Stacks


National Credit Education Month

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