Money Matters: Credit Reports

In this economy, consumers can never start too young planning their financial future. A credit report is the most important document in establishing good credit.

A credit report can be obtained for free

A credit report can be obtained for free once a year from each of the three major credit bureaus--Experian, Equifax and TransUnion. (Credit: News 12)

THE BRONX - In this economy, consumers can never start too young planning their financial future. A credit report is the most important document in establishing good credit.

A credit report can be obtained for free once a year from each of the three major credit bureaus--Experian, Equifax and TransUnion.

Upon request from a credit lender or bureau, credit reports are fed through a mathematical formula created by Fair Isaac Company to create your FICO credit score. The score is used by financial institutions across the world to make consumer credit decisions.

To start building the score, it is recommended that consumers get a credit card. Some card recommendations from experts include the Discover Student card, Capital One Journey Student Rewards Card, and the Chase Freedom card.

advertisement | advertise on News 12

Trending Video

News 12 The Bronx hit the streets to 1 Word on the Street: People who take selfies
Tips to stay commited to your fitness resolution 2 Tips to stay committed to your fitness resolution
Police say a 23-year-old man was shot inside 3 Police: Man shot inside Bronx barbershop
4 Volunteers repaint Bronx River Community Center
5 Bronx Sportscast, Jan. 16

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE