Good credit helps with more than borrowing; it can factor into everything from renting an apartment to getting a cell phone. lenders, landlords, and utility providers may all review your credit report when making decisions about your credit history. Establishing good credit habits as essential, so that you can build and improve your credit history and credit score.
Pay your bills on time
Keep track of your credit balances
Manage your debt-to-income ratio
Contribute to an emergency fund
Practice making payments before taking on new debt
Avoid maxing out credit accounts
Monitor your credit reports
Fair Credit Reporting Act (FCRA)
The Fair Credit Reporting Act, (FCRA) is U.S. Federal Government legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies. It was intended to protect consumers from the willful and/or negligent inclusion of inaccurate information in their credit reports. To that end, the FCRA regulates the collection, dissemination, and use of consumer information, including consumer credit information.