Featured image forCredit: What is it, why is it important, and how do you manage it?

We talk a lot about credit around here at PATF. After all, we extend loans for assistive technology. But what exactly is credit? And why does your credit score matter? And once you know how important credit is, how on earth do you keep it in check and work to raise your credit score? These are common questions and we’ve put together a list of articles and resources we’ve found helpful so that you can get a handle on your credit.

Chapter 6 of Cents and Sensibility, our financial education book, is all about borrowing money. In this chapter the following questions are answered with activities to help your understanding:

  • What is credit?
  • Why is it important to have good credit?
  • How do you establish credit?
  • What are credit reports and credit scores?

5 Reasons Why Good Credit Matters outlines a few of the reasons why it’s important to track and raise your credit score.

What Are the Credit Score Ranges? lists the number ranges that represent bad, fair, good, and excellent credit, and suggests ways to keep track of your score.

How to Build Credit covers several ways to build your credit and some good habits to adopt along the way. A PATF loan to purchase your assistive technology is a great way to build credit, and if you make your repayments on time every month you’ll be building good credit.

Your Credit Report: What You Need to Know goes over how to read your report, what to look for, how to get a copy of your report, and how your report relates to your credit score and affects your finances.

Could a Credit Counselor Help Me? explains what it’s like to work with a credit counselor, someone who is trained to look at your finances and help you reduce debt and use credit responsibly.

What is a Balance Transfer, and Should I Do One? provides ideas on how to pay off your credit, and when it might make sense to consider a balance transfer.

Disputing Errors on Credit Reports goes over why you need to check for errors on your credit reports, how to check for errors, and how to correct it if you find one.

Have more questions? We consider ourselves experts (we know a whole lot!) on credit and financial education. Check out our financial education resources to learn more.