Credit 101

A comprehensive guide to understanding, building, and leveraging your credit as a student, designed to empower your financial journey.

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Financial Literacy

Choose your level and get a short, practical course on credit that fits your week.

Beginner

Credit Rookie

I am just getting started

Learn the fundamentals of credit and day to day money choices

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Intermediate

Credit Climber

I know the basics

Build habits that raise your score and protect your report

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Advanced

Credit Ace

I am a credit score master

Optimize for big goals and long term wealth moves

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Credit ScoreMyths vs Facts

Swipe the cards to learn essential credit truths

myth

Checking your credit score hurts your credit

Checking your own credit is a "soft inquiry" and doesn’t affect your score.

When you check your own credit score, it’s considered a soft inquiry and has no impact on your credit score. Only hard inquiries from lenders can temporarily lower your score.

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fact

Payment history is the most important factor

Payment history accounts for 35% of your FICO credit score.

Consistently making on-time payments is the single most important thing you can do to maintain and improve your credit score over time.

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myth

Closing old credit cards helps your credit

Closing old accounts can actually hurt your score by reducing credit-history length.

Keeping old credit cards open maintains your credit-history length and keeps your credit-utilization ratio lower, both of which help your credit score.

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fact

Credit utilization should stay below 30%

Keeping your credit-card balances low relative to your limits helps your score.

Credit-utilization ratio is the second most important factor in your credit score. Keeping balances below 30% of your limits shows responsible credit management.

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myth

You need to carry a credit-card balance to build credit

Paying off your balance in full each month is best for your credit and wallet.

Carrying a balance doesn’t improve your credit score and costs you money in interest. Pay your full balance each month to build credit without paying unnecessary fees.

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fact

Authorized-user status can help build credit

Being added as an authorized user on someone else’s account can boost your score.

If you’re added as an authorized user on an account with good payment history and low utilization, it can help improve your credit score.

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myth

You only have one credit score

There are many different credit-scoring models used by lenders.

Different lenders use different credit-scoring models (FICO, VantageScore, etc.) and may pull from different credit bureaus, resulting in multiple credit scores.

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fact

Credit mix affects your score

Having different types of credit accounts can positively impact your score.

Having a mix of credit cards, auto loans, mortgages, etc. shows you can manage different types of credit responsibly, which can help your score.

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myth

Student loans don’t affect your credit score

Student loans are reported to credit bureaus and impact your score.

Student loans appear on your credit report and affect your credit score just like other loans. Making on-time payments helps build credit, while missed payments hurt it.

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fact

Credit reports can contain errors

Studies show that up to 25% of credit reports contain errors that could affect your score.

Regularly reviewing your credit reports and disputing any errors you find is important for maintaining accurate credit information and protecting your score.

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Credit Resources

Download essential guides and tools for financial success

Student Credit Guide

Complete guide to building credit during college years

Credit Score Cheat Sheet

Quick reference for understanding credit score factors

Budget Planning Sheet

Excel sheet for tracking expenses and planning

All resources are regularly updated with the latest financial guidelines and best practices

Build Credit Safely

Learn proven strategies to build your credit score responsibly without falling into debt traps.

Track Progress

Monitor your credit journey with interactive tools and personalized insights tailored for students.

Earn Rewards

Discover how to earn rewards while building credit, turning responsible spending into benefits.