A good credit record can be a leveraging tool to owning large assets, such as a home or small business. Learning how to read your credit report, correct errors, and improve your credit score are critical skills needed to take charge of this area.
 
Bad credit can prevent access to jobs, apartment rentals, and affordable car insurance.  It can also steer low-income families toward predatory lenders. No matter how negative your credit history is now, it can be improved if you gain the necessary skills and follow through on remedying problems.
Credit Reports

Consumers can request a FREE copy of their credit report from each of the three credit bureaus – Experian, Equifax and Transunion – once every 12 months through www.annualcreditreport.com. Learn more

• Learn about the type of information included in credit reports.
• Learn how to read a credit report.

Credit Scores

A credit score is used by a lender to help determine whether a person qualifies for a particular credit card, loan, or service. Most credit scores estimate the risk a company incurs by lending a person money or providing them with a service –– specifically, the likelihood that the person will make payments on time in the next two to three years. Generally, the higher the score, the less risk the person represents.

How can I get my credit score?

You can purchase a credit score by contacting one of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion. You can also purchase a credit score when you request your free annual credit report on www.annualcreditreport.com.

Education Materials

• The Credit Handbook (Minnesota Attorney General)
• Your Legal Rights: Know the FACT Act on Consumer Reporting (Minnesota Attorney General)
• Credit Reports (Minnesota Attorney General)
• Debt Collection (Minnesota Attorney General)